Macy’s Q2 Sales, Profits Fall

Macy’s (Cincinnati, Ohio) announced results from its second-quarter earnings, including falling revenue and profits. Same-store sales were also down 2.1 percent.

The retailer unveiled a plan to boost sales by selling to Chinese customers. It is partnering with Fung Retailing to create an e-commerce store on Alibaba’s popular Tmall Global shopping site.

“By making Macy’s accessible in China, we have an opportunity to deepen our relationship with domestic and international customers and to grow sales,” said Macy’s CEO and Chair Terry J. Lundgren.

According to The Washington Post, factors that affected the decline included a strong U.S. dollar that dampened tourist spending, as well as logistics that interrupted the arrival of new merchandise.