If Macy's, a profitable and good company is closing this many stores....
8 replies (most recent on top)
I wasn't trying to compare Macy's to Sears at all. I was just simply stating that these 2 companies generally release their financial quarter results/store closure statements around the same time. I realize that both Sears & Macy's are both retailers rich with their own history through the years. I also know that Macy's performs better financially than Sears who appears to still appears to be on this downward spiral. Macy's is trying to concentrate or promote their online services by closing the stores that I assume will be announced later.
To answer the question about the price check, if the register was prompting "enter price" it was a pennied out item. To avoid the price check, the employee should have had an RMU at the register for them to use for the price check since there were no employees in the store.
both macy and shc websites are so flawed that consumer shopping is maddening. checking out @ registers(kmart) is something that only the mindless would do because of flintstone technology still in use. of course, I had time to think about it all while waiting in line for 2 items. We were waiting for a price check for which there was no employees to do.
Don't compare Macy's to Sears. Macy's earns a very healthy profit consecutively for years. Sears has a negative eps of $50 the past 4 years with projected of negative $10 this fiscal!
Just so you know --
Macy's, Sears and Kmart have many of the SAME suppliers.
As far as advertising, I will mention print. Macy's has a lot of markets with virtually no print advertising presence. If those numbers were crunched you will find almost all small markets with Macy's stores have no ads. Sears and Kmart have print for 90 percent of mainland stores.
Sears and Kmart pay less for print than Macy's per sharemail/newspaper/shopper distribution. That is probably due to a lack of aggressive negotiating on Macy's part.
Normally, when Macy's makes a store closure announcement, I have noticed that SHC's announcement isn't too far behind. I believe the 2nd qtr results are due out before the month's end. The news probably isn't good. I anticipate another round of closures pretty soon.
Problem is is that Macy's has kept their stores, hardware and IT current where as SHC has not. Macy's has an advertising presence where as Sears does not, Macy's has a store that looks like it belongs in the 21st century where Sears/kmart is stuck in the 80's Macy's has vendors and merchandise that people want to buy.. Sears/Kmart has a long road and much money to get current no matter how many stores they close. Macy's can close stores and what is left is still in the 21st century. SHC has burned too many bridges with customers, customers service and quality of products to make a difference, where at least Macy's still has a reputation to build on.
If you read the CNN Money article about this, you will see a lot of points that Sears Holdings has made about its own store closures and right sizing the company's store base. When I mention Sears below, it takes into consideration all of Sears Holdings.
Sears is leasing parts of its stores to other retailers. Macy's is going to do the same.
Sears is concentrating on its best customers and locations. Macy's is going to do the same.
Sears is restructuring store operations.
Sears is closing stores where the value of real estate exceeds the value of the store as a continuing operation. Macy's is going to do the same.
Sears has introduced new brands and brand extensions to improve sales. Macy's is going to do the same.