Maryland Congressman Jamie Raskin, chairman of the Subcommittee on Civil Rights and Civil Liberties, plans to hold a hearing to examine the wave of attempted book bannings in schools and libraries across the country. The hearing is set for April 7 at 10:00 a.m. ET. A livestream will be available on YouTube and the Committee on Oversight and Reform website. The hearing comes during National Library Week, and after the American Library Association announced on Monday that it counted some 729 challenges to remove nearly 1,600 books from school and public libraries in 2021—a striking uptick and the highest number of attempted book bans in the 20 years that the ALA has tracked this data.
“I’d like to thank our teams for executing well during the quarter. We delivered better-than-expected top and bottom line third quarter results and are entering the holiday period in a healthy inventory position. Our portfolio of nameplates are leading gift-giving destinations across the value spectrum offering exclusive products. We have refined our gift assortment, simplified our promotions and improved our shopping experience,” said Jeff Gennette, chairman and chief executive officer of Macy’s, Inc. “Looking forward we have strong continuity with Tony Spring transitioning to CEO in February and I am confident he and our leadership team will guide Macy’s, Inc. to sustainable long-term profitable sales growth in the future.”
Third Quarter Highlights
*Net sales of $5 billion, down 7% versus the third quarter of 2022. Brick-and-mortar sales decreased 7% versus the third quarter of 2022. Digital sales decreased 7% versus the third quarter of 2022.
*Comparable sales down 7.0% on an owned basis and down 6.3% on an owned-plus-licensed basis.
- Macy’s comparable sales were down 7.6% on an owned basis and down 6.7% on an owned-plus-licensed basis.
- Bloomingdale’s comparable sales on an owned basis were down 3.2% and on an owned-plus-licensed basis were down 4.4%.
- Bluemercury comparable sales were up 2.5% on an owned basis.
- Gross margin rate for the quarter was 40.3%, up from 38.7% in the third quarter of 2022.
details at https://www.macysinc.com/newsroom/news/news-details/2023/Macys-Inc.-Reports-Third-Quarter-2023-Results/default.aspx