So I'm sure were all in the same boat here, but the stores are looking super empty of clothes. I know stock is supposed to start back up. But like they look terrible.
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How much credit does Macy’s get for all this Penny Stockwe send back?
Boy, you are right about IA....we are drowning in stock, and no one to keep it merchandised. It's awful. Brands, sizes, colors, types of bras..what a mess. No sales associate to help customers. No markdowns done either.
they just placed new orders last month. They are dividing what stock they do get throughout the company. A vendor like Levi's is not cost productive. First of all you can buy Levis everywhere and for the same price. And the millions of dollars of product we sit on in these levis shops just doesn't make sense. Fashion watches stop doing good numbers a few years ago. The merch levels will come up. But don't look to carry a bunch of brands just because we always did.
Does your store have an IA department with an oversized assortment...Yes. Does your mens department carry the same polo shirt in 6 brands every spring. Yes. Has your MK watch assortment more or less been the same for 5 years. How many fashion jewelry brands to you really need..
I'm sure it's b/c after all those months they were closed b/c of covid that most of the stock went to last act or penny goods. So they took a huge loss keeping most of it in the stockroom or shipping penny goods out of the store.
Brands pulling out ,no new orders could be a ploy to close more stores quickly. Not saying the whole company will close just stores that have no return biz