Posted on 01/09/2014 3:02:17 AM PST by SoFloFreeper
The axe is falling at Macy's.
The department store operator said Wednesday that it was laying off 2,500 workers and closing five stores. The company is also consolidating its regional management and restructuring its retail and merchandise planning staff.
"[W]e have identified some specific areas where we can improve our efficiency without compromising our effectiveness in serving the evolving needs of our customers," Macy's CEO Terry Lundgren said in a statement.
(Excerpt) Read more at money.cnn.com ...
“I doubt retailers did well during the holidays”
I hear because the after holiday markdowns were so good a lot of people were returning merchandise, getting the refund and rebuying the same thing at a deep discount. Heck, I did it myself once and saved $30.........so yeah sales were down, and we all know who we can thank for less expendable income.
“I doubt if there are more than eighty cities that could support a Macys operation.”
A big problem for these retailers is that the disposable incomes are leaving the dying, older cities and heading to growing cities in the South. I’m sure the same pattern is occurring for high-end cars and such; here in the Northeast many of the clients that used to do business there have watched their jobs disappear. Not too many Wal-Mart greeters in the market for a new Mercedes...
The one up the street from us here in Overland Park KS
Judas Priest, I do not want the OP store to close
I tell you what, for too long your business buds have voted for whatever looked like was best for business including going along with the Democrats.
This misplaced pragmatism is partially responsible for these Democrat thieves being in office
snort no
Macy’s is not high fashion
but they had a decent men’s department and good markdowns
A big problem for these retailers is that the disposable incomes are leaving the dying, older cities and heading to growing cities in the South.
A point to consider, also the people in the ‘south’ have less need for an extensive ‘winter’ ensemble of clothing. That makes a huge difference for these stores that are used to supplying clothing for both seasons as well as the ever-changing demands of ‘fashion’.
Add in less disposable income and store like Macy’s that rely on clothing sales are in trouble.
We all have so much crap it would take decades before all our clothes ran out. Have you seen how packed with clothes the thrift shops are
I just bought a food processor at Macy’s for $70, marked down from $149.
I have purchased a few other items there that were deeply discounted.
There are nice clothes, but I look at them to get ideas. I’m sewing more these days, because there is a lot more selection when you make your own clothes!
The “Kinky Boots” parade probably didn’t help much either.
They likely have leases that must be paid..... open or closed
We all have so much crap it would take decades before all our clothes ran out. Have you seen how packed with clothes the thrift shops are
I know what you mean, I still have some clothing in my closet from 30+ years ago.
Macy’s used to be a good store to purchase men’s clothing.
I don’t shop there but, when I walk through I thinktheir hip hop is oddly out of place for store that should cater to middle and upper middle class.
Their appliance section seems haphazard in layout as well.
JC Penny’s has been in trouble for years before they tried a hail mary pass with appealing to gays. They would be going out of business regardless of what they did.
I have seen similar things down here. The really scary thing is that small businesses are failing like popcorn pops.
I agree.. a hail mary is an understatement. We have one near us for as long as we’ve been married and I don’t think we’ve stepped in there since my wife was pregnant in 2006. We can get cheaply made children’s clothes at Salvation Army, Goodwill, Walmart and Target and we get better service and selection.
A few years ago the company that owned Macys and Hechts changed the Hechts stores to Macy’s in the few remaining and large Malls around Maryland like Towson and Columbia .
This meant replacing products with more expensive products, and raising the prices of products that were continued under Macy’s like certain clothes brands. (its Macy’s so it has to cost more)
I liked the Hecht’s , I dont shop at the Macy’s, its a rip off.
They slapped the Macy’s name on the Davisons chain in 1986 and ran that chain into the ground, and then slapped the Macy’s name on the Rich’s stores that they had bought. Wouldn’t surprise me if they didn’t run that chain into the ground, as well.
Penny’s fired the guy who was pushing the gay agenda, and has tried to turn the chain back around. They seem to be making some progress, but the jury is still out on whether the current management can save the chain.
I remember when friends said that their clothes were from “Jacques Penay” to give it some class.
Personally, I thought it was a great catalog company, but that was quite some years ago.
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