US retailers overhaul offerings to lure shoppers

Seeking customers: A Macy’s store in Los Angeles. Analysts expect the retailer to report a big drop in its second-quarter earnings. — Bloomberg

NEW YORK: Quarterly results from Macy’s and Nordstrom this week will allow investors to find out whether new inventory at lower prices, like US$59.50 (RM276.50) pull-on work pants and discounted UGG slippers, are finally drawing shoppers back to the US department store chains.

In an effort to boost sales, Macy’s has focused on revamping its private brands, including its new On 34th label launched in July. Nordstrom, which reports results tomorrow, hopes to turn around its struggling off-price Rack business with a focus on 100 “strategic” brands, chief executive officer Erik Nordstrom told investors in March.