Move Over Macy’s, Amazon is Taking Over


CNBC released a story on Monday, July 20 about Amazon’s goal to strip Macy’s of its title as the top apparel retailer by 2017. With a distribution warehouse in Murfreesboro and Mt. Juliet, this news could increase production at both of these facilities.

CNBC reports:

If realized, that distinction would come on the heels of the online retailer quietly ramping up its partnerships with fashion brands including Gucci, Kate Spade and BCBG, to offer 343,000 items from leading brands that sell directly or on a first-party basis.

To compare, Macy’s has 85,000 apparel items on its website, whereas Wal-Mart has 292,000, Nordstrom 85,000 and Target 35,000.

Cowen, which simultaneously upgraded Amazon from “market perform” to “outperform,” forecast in its research note that Amazon’s gross merchandise value in apparel and accessories will grow from an anticipated $16 billion in 2015 to more than $27 billion in 2017.

That figure would easily best Macy’s anticipated sales of $24.69 billion in those categories in 2017

Read the CNBC story in its entirety here.

Read a related story by Julie Verhage, read this BloombergBusiness story.

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