That's clearly the direction we're heading. In five years, I think Macy's will follow the same fate as Sears.
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Retail is definitely NOT the only industry that feeds the top while the bottom starves
Years ago department stores had deals with vendors and designers for exclusive deals only available to their stores, but those days are gone, now all stores sell the same items
Including all online stores, way to much competition.
I give it till 2029
Respectfully I disagree. I think the fleet is shrinking yes as retail is completely changing as a whole but I think the CEO knows what he’s doing. Since he became CEO he has said that Macy’s does not need to have the most stores but the best stores. I think the real estate part of the three year plan selling off under productive stores is just a piece of it and that upcoming years are not going to feel the same as they have in the past decade for Macy’s. Tony is different than the past leadership. Just sharing a different perspective.
I give it 5 years as well! Clearly we are in the business of real estate and not fashion. For decades, “Federated” bought up all the competition thinking that’s the way to grow….but it has only caused the pigs to lay belly up! Now, we are experiencing the downfall of a hollowed out/ rotten tree, allowing sprouts to finally grow.
Retail is struggling because retail executives are bleeding companies dry. Neiman Marcus, Macys, Nordstrom, are all the same. Executives are getting huge bonus when store sales are down. Retail is the only industry where sales can be down, stores are closing, and executives are getting raises and bonus. This should be against the law.