The Critical Question For Struggling Retailers: Too Much Store Or Not Enough Brand? [Forbes]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: Forbes
New York City, USA - April 7, 2018: Aerial view of Macy's Herald Square store in Manhattan. Getty I suspect hardly anyone is surprised when an ailing retailer announces plans to shutter locations en masse. Across the last several years we've seen dozens of once mighty chains close hundreds of stores in hopes of staving off a trip to the retail graveyard. This week, having already closed some 120 stores in a bid to shrink to prosperity, Macy's announced that it plans to eventually reduce the size of many of its under-performing stores. These neighborhood stores (four of which are currently being tested) will also undergo merchandising and service changes. In a Wall Street Journal article discussing the new strategy I was quoted as saying “If you’ve got too much space, it means your brand isn’t resonating. It’s not a real estate problem, it’s a brand problem.” And while that quotation was a bit out of context and not meant specific to the viability of
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Earnings
- 2/27/24 - Beat
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Sec Filings
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