Shopper Alert: Retailer Macy’s Inc. is increasing coupons and promotions in the second half to spur store traffic.
    Goldman Sachs analyst Adrianne Shapira said in a research note that the effort, along with the launch of Martha Stewart-branded bedding and other home products, would likely help sales in the fourth quarter. But she cut her third- and fourth-quarter estimates for the operator of Macy’s and Bloomingdale’s stores.
    Macy’s spokesman Jim Sluzewski confirmed that the promotions were increasing. 
    “As initial tests of the strategy have proven successful across the Midwest and Northeast, we believe it could boost (same-store sales) into 4Q,”  wrote Shapira. 
    Earlier this month, Macy’s cut its second-quarter profit forecast, citing disappointing sales. The retailer, which had previously pared back coupons, is trying to lift results at former May stores it acquired in 2005 and converted to the Macy’s name last year.
    At a Goldman-sponsored lunch, management ”admitted it had enacted too much change too quickly,” Shapira said. She added that the company indicated it did not intend to permanently boost promotions.
    While the top brass didn’t directly address rumors about a potential buyout of the retailer, Chief Financial Officer Karen Hoguet did emphasize that the company “would entertain all options presented to maximize shareholder value,” Shapira noted.
    Stay tuned.