Watch: Macy’s CEO Jeff Gennette Sees Strong Black Friday Sales

NEW YORK, NY - NOVEMBER 22: Customers wait in the cold outside the Herald Square Macy's Flag ship store for the early Black Friday sales on November 22, 2018 in New York City. Known as 'Black Friday', the day after Thanksgiving marks the beginning of the holiday shopping season, with …
David Dee Delgado/Getty Images
JOHN CARNEY

Macy’s online Black Friday traffic has been “terrific” and traffic in its stores is “better than last year,” according to its chief executive.

In an interview with CNBC, Macy’s chief Jeff Gennette said it looks like “really strong start to the holiday shopping season. Customers showed up early online. And when we opened up our stores at 5:00, they were there. So they were responding to all the great values. And I also saw it in our competitors in walking around last night. It looks to be a strong start for the holiday season.”

Macy’s, which operates approximately 690 department stores, is a considered an important bellwether for the U.S. retail industry.

In an interview with Bloomberg, Gennette said that “cold weather products” were selling especially well thanks to the particularly cold weather in many parts of the country.

 

“It is a great consumer spending environment, record low unemployment and consumer confidence is high,” Gennette said on Bloomberg.

Consumer sentiment slipped a bit in November following the midterm elections. Despite the dip, however, consumer confidence remains very strong and should support strong spending in the 2018 holiday spending.

 

 

.

Please let us know if you're having issues with commenting.