I’m curious if the rest of the neighborhood stores will get the axe next year? My local store was on that list and it’s always busy and seen to be doing well.
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In NJ with the exception of Livingston, all Acts buildings are owned. Therefore, I don’t think any if the buildings will be closed ( unless they have a buyer)
If you are worried about your store closing, here are some signs to look for to understand how likely it is that your store will be on the list in January. The more of these questions you answer with a YES, the more likely your store will be on the list.
- Was/Is you store a Neighborhood store?
- Are your stockrooms empty and are your floors less than full going into Black Friday?
- Does you store do less than $15 million a year?
- Is your building old and reflect poorly on the Macy's brand?
- Does your roof leak or does the building need significant maintenance & repair?
- Does your mall lack anchor retailers or have low occupancy?
- Is there another Macy's within 30 miles where business would transfer ?
- Is your store in a "bad part of town" and have high shortage?
- Have you been directed to transfer fixtures and goods to other stores?
- Has there been a lack of investment in your store (Backstage/Fulfillment/ect..)?
How many neighborhood stores are left?
If this is true I'm guess Livingston Macy's in New Jersey will get the bad news after the holidays. It is a neighborhood store and it doesn't look like the fulfillment idea is working for that store.
It's not looking good for Neighborhood stores next year. Stock levels are way up, stores can't find space to keep all of the inventory that just keeps rolling in, and our chief of stores is already talking about the need to control expenses and hours. We are not seeing the expected traffic online and now store traffic is slowing as well. If we don't have a successful fourth quarter (and its not looking good with just 11 weeks to go), Jeff will fall back on the Polaris strategy to show investors that we are continuing to close our least productive locations in the face of a shortfall to the quarter and year forecast.
Macys Hamilton in Mays Landing has an extended Fulfillment area so not sure if they would still be on the endangered list. At least for now unless fourth quarter online orders are not strong. The store itself yeah I could see closing so they really need this Fulfillment expansion to work as do many other locations.
Hamilton Mall Macy's in Mays Landing, NJ will get the axe after the holidays.
so this should scare anyone working in the stores.. they already said they will shrink macys and that means jobs doesnt matter who
This is always a mystery as some of the locations you think would close don’t. And then some that you don’t think are closing actually do. Here in NJ no idea anymore
The choice has many variable's. Is the building a lease or do they own it? Store population and location. Sales in store and fulfilment. EBIT and profitability. This is just to name a few.
Corporate won't know until they play "Spin the WHEEL of store closures" at the beginning of next year. Also need to figure in how much of bonuses they want to receive.......