Posted on 08/11/2016 5:53:41 AM PDT by Olog-hai
Reading the article gave me instant Schadenfreude! :^)
I’m a Wal-Mart shopper myself. I also shop a lot online. My days of walking into Macy’s to take advantage of their coupon sales is over. Must watch my money.
They just beat earnings estimates and the stock is up +11% in pre-market this morning, so ditching the Trump brand was not quite the death blow some folks are making it out to be.
We used to have a chain of stores here in Houston called Foley’s. For my wife and me, this was our “go-to” department store. I even worked on the loading dock at one as a summer job back in the mid 70’s. About 10 years ago, they sold out to Macy’s and all the Foley’s stores became Macy’s stores. As a result, we found less appealing merchandise and higher prices. We almost never shop there.
Dat Obama ‘conomy B boomin’!
The Macy’s closest to me is stocked with urban and hipster-doofus clothing and very little traditional menswear.
So why are they closing a hundred stores?
Very accurate soaring cost-of-living assessment!
From what I understand, the upper+ middle class are feel’in too.
Golfing course activity and profits have dropped significantly, upper end boat and RV sales are down too.
Has anyone noticed that Sotheby’s and Berkshire Hathaway are increasingly representing lower end homes, < 350K?
Geez, Sotheby’s used to be only for the Thurston Howell set!
And does anyone ever remember hearing elders say to you in the mid-1980’s, “Kid, you’ll never have it this good again” ?
They were right...
RE: “Macy’s is definitely for the “middle class”. Well, the middle class has NO discretionary money any longer, will see 20-50% premium increases (again) on their health insurance this year, have seen state and local taxes increase, groceries are up, and Hillary promises to raise taxes on this group. Can’t wait for HRC to make some kind of statement about Trump has caused Macy’s to retract.”
Your post took me back to the “good old days” of shopping the Foley’s near the Alamo in San Antonio. Macy’s was a poor substitute, and we soon drifted to the suburbs to shop.
Obamanomics.
Marketing 101 - Pi$$ing off customers is not a strategy for success.
Part of this could be how Macy’s bought out other department stores around the country, and turned them into Macy’s.
I know there was great anger in Chicago, when Macy’s took over the Marshall Field’s chain. There was talk of boycotts of Macy’s in the Chicago area due to that. I understand Macy’s took over other local chains around the country and turned them into Macy’s, which created bad public relations for Macy’s as they took over local department stores.
Macy’s is definitely for the “middle class”. Well, the middle class has NO discretionary money any longer, will see 20-50% premium increases (again) on their health insurance this year, have seen state and local taxes increase, groceries are up, and Hillary promises to raise taxes on this group. Can’t wait for HRC to make some kind of statement about Trump has caused Macy’s to retract.
...
Maybe if Macy’s starts selling groceries like Walmart they can attract the EBT crowd.
Macy’s will have 666 stores including 38 Bloomingdale’s locations. That’s down about 23 percent from a peak in January 2007 of 868 stores including Bloomingdale’s.
Annual net sales at the stores Macy’s plans to shutter were estimated at about $1 billion.
Trump was right, they’re failing.
I pretty much Amazon most things.
I won’t shop there... Macy is the ‘neverTrump’ store...
I’m amazed Penney’s is still in business... and Target still has their doors open...
We no longer have Lord & Taylor in Houston. Really miss that store. Lucky you.
That happened nearly everywhere. Most of America’s great stores became Macy’s, and as you say, the merchandise became far less interesting.
They loved their “principles” more than their customers!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.