Posted on 01/04/2017 5:08:21 PM PST by Olog-hai
Macy’s says it is eliminating more than 10,000 jobs and plans to move forward with 68 store closures after a disappointing holiday shopping season. The department store chain also lowered its full-year earnings forecast.
The retailer said Wednesday that sales at its established stores fell 2.1 percent in November and December compared to the same period last year. Macy’s Inc. pointed to changing consumer behavior and said its performance reflects the challenges that are facing much of the retail industry.
As if to underscore that point, Kohl’s Corp. also reported disappointing holiday shopping numbers Wednesday. …
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Likewise..
MACY’S used to be my favorite place to shop for the name brand business wear I like, but after the Gay-cy’s fiasco, I haven’t spent one thin dime with them.
My spending of $1,000-1,500 a year might not be much in the big scheme. But a few hundred thousand like me, and it adds up FAST.
Worse still, it will be a frozen day in hell before they ever admit that it was their POLITICS that led to their downfall.
Perhaps if they bring back Trump ties and other items, and make it very public, they might be able to save the rest of their stores!
Our local store, which opened in 1981, is on the closure list. I do feel sorry for the 65 associates who will lose their jobs, as they are not responsible for stocking decisions and I’m sure many of them are just hard working Americans.
Kohl’s men’s shirts are very thin. I buy Lands End shirts online instead.
On the other hand, there have been hundreds of articles written as to the change in Penney's marketing harming their sales. Their sales changed immediately because they cut back on advertising and lowered their prices.
On the other hand, there have been hundreds of articles written as to the change in Penney's marketing harming their sales. Their sales changed immediately because they cut back on advertising and lowered their prices.
The day of the “big box” store is fading quickly. Shopping online will soon overcome most big mall stores. In the last five years I have purchased a lot of home improvements from Sears. Never set foot in the store.
Interesting - I was about to do a tongue-in-cheek quip that they should add a Melania/Ivanka line....was unaware they had dumped a Trump line (probably saw the story but didn’t give it a thought).
Oh noze! Gay men use the Macy bathrooms for sex meet up places. Now what are they going to do? Maybe closing Macy’s is a civil rights violation.
Surprised Macy’s hasn’t tried that tactic. One-stop shopping and cruising, especially for the closeted who are married to the opposite sex . . . can’t let them close, can they?
There are a good number of people here on FR who DO believe it was due to Penneys hiring of a lesbian as their spokesman.
However, I acknowledge that you have a very valid point.
They hired a salesy guy from apple who tried to remodel hundreds of stores at cost when they were already in the red. He then reduced staff and removed checkout registers (how do customers pay?!). He tried to design a store within a store theme and added playground areas for children to play. Finally he advocated a gimmick token or something to collect points or whatever.
Sad demise for JCP. Just sold the HQ property in Plano for $350M. Might buy some time, but I don't think it will recover, sadly.
Interesting. Thank you.
Bill Ackman is the investor responsible for running JCPin the ground. He had no idea what he was doing. Apparently has a history of wrecking organizations.
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