Macy's (M) Unveils New Online Fashion Platform Mstylelab
Macy's, Inc. M recently announced the launch of mstylelab, an innovative fashion platform built on the metaverse infrastructure solution, Journee. The company’s new engagement platform is designed to blend the physical and digital worlds to create an advanced shopping experience for customers.
As part of the company’s web3 digital strategy, mstylelab provides a virtual platform for style inspiration and fashion immersion experiences for its customers. The new fashion platform leverages the latest technologies to enable users to embark on a mission of discovery, self-expression and connectivity. Compatible on any device at macys.com/mstylelab, the online platform will feature clothing from Macy’s new ‘On 34th’ brand.
Mstylelab users will have the option to log in with their macys.com profile or create a new one. They will be prompted to select a Mstylelab username, design and personalize a digital fabric to create a community identity and explore the virtual fashion environment.
Within the company’s online platform, users can choose from a wide collection of apparel from the On 34th brand. While navigating the star checkpoints, users will also be able to unlock a digital t-shirt that complements their personalized digital fabric.
As noted, the online platform will have the scope to develop over time, encompassing new immersive experiences and partnerships. With the advent of the holiday season, the activation will also exhibit the company’s Thanksgiving Day Parade metaverse experience.
What’s More?
Macy’s is on track to strengthen its omni-channel capabilities with investments in online shopping experiences, data and analytics, technology infrastructure, as well as better fulfillment capabilities. Incidentally, Macy’s expanded its omni-channel offerings, such as curbside, store pickup and same-day delivery, which bode well. However, M has been grappling with a tough macroeconomic backdrop, waning consumer confidence and a pullback in spending activity.
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The Zacks Rank #3 (Hold) company’s shares have gained 6.1% in the past month compared with the industry’s growth of 2.4%.
3 Solid Picks
A few better-ranked stocks from the same space are Abercrombie & Fitch Co. ANF, American Eagle Outfitters, Inc. AEO and Dillard's, Inc. DDS.
Abercrombie & Fitch is a specialty retailer of premium, high-quality casual apparel. The company currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Abercrombie & Fitch’s current fiscal-year earnings and sales indicates growth of 1,644% and 10%, respectively, from the year-ago period’s reported figures. ANF has a trailing four-quarter average earnings surprise of 724.8%.
American Eagle Outfitters is a specialty retailer of casual apparel, accessories and footwear. It sports a Zacks Rank #1 at present.
The Zacks Consensus Estimate for American Eagle Outfitters’ current fiscal-year earnings and sales indicates growth of 33% and 2.2%, respectively, from the year-ago period’s reported figures. AEO has a trailing four-quarter average earnings surprise of 43.2%.
Dillard's, a department store retailer, currently sports a Zacks Rank #2 (Buy). DDS has a trailing four-quarter earnings surprise of 77.1%, on average.
The Zacks Consensus Estimate for Dillard's fiscal 2024 sales indicates growth of 0.3% from the year-ago period’s reported figure.
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