The US retail giant is in for a "scoop"! Macy's (M.US) has joined the summer sale frenzy.

Macy's Inc. (M.US) announced on Wednesday that it was launching a summer promotion, joining other large retailers in a line-up of seasonal promotions to attract customers. The largest U.S. department store chain said it would hold its first "Macy's Week" from July 16 to 23, offering thousands of summer best buys and exclusive offers for its Star Rewards members.

As Macy's launches its promotion, its rival is also stepping up its summer promotions. Macy's Week will begin at the same time as Amazon.com's (AMZN.US) two-day shopping event, Prime Day. Target's (TGT.US) "Target Circle Week" and Walmart's (WMT.US) "Walmart Deals" promotions have already started, but both will end this week.

Macy's shares were down 0.26% to $18.82 at the close of trading Wednesday, down nearly 5% from their 52-week high.