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Macy's CFO Anticipating Holiday Shopping Season

Macy's CFO Anticipating Holiday Shopping Season

The chief financial officer of Macy's said during a recent conference call with investors that the company's third-quarter net income increased, adding that the department store chain is fully prepared for the holiday shopping season.

According to The Associated Press, CFO Karen Hoguet noted that the chain's ability to tailor its products to local markets helped drive the net income boost. She added that both Macy's and Bloomingdale's department store chains increased their full-year profit forecasts following the relatively strong quarter.

While the company reportedly issued a conservative projection for the current quarter that includes the holiday season, Hoguet explained "our stores are more set than ever for the holiday selling, and we hope that that pays off."

As part of Macy's efforts to appeal to local markets, the chain is reportedly expecting to open a new store in the Bronx neighborhood of New York City. According to The Wall Street Journal, Macy's will look to capitalize on local shoppers seeking mid-priced merchandise offerings at the new store, which is expected to be constructed by 2014.