POSTED 8:09 PM, JANUARY 6, 2016, BY ANDREA CAVALLIER AND ASSOCIATED PRESS, UPDATED AT 08:11PM, JANUARY 6, 2016
NEW YORK — Macy’s is closing dozens of stores and cutting thousands of jobs across the United States after disappointing holiday sales.
The Cincinnati-based department store chain says sales fell 5.2 percent in November and December at existing stores. Warm weather and lower spending by international tourists hurt sales.
The company also listed Wednesday which 40 stores it would close.
I have no problem, I thought I had the $800,000,000 power ball ticket, and then I woke up.
It is your fault James.
The stores can’t break out of the endless cycle of sales/coupons and “Friends and Family”.
JC Penny tried, Jos A Banks tried. Consumers want deals every day.
Do to a combination of factors, attributable mostly to the Internet and its ability to allow shoppers to find out within seconds where the price price is for any product, not to mention a cycle of ever-declining profit margins while stores operate in varying states of bankruptcy, this is not surprising. The Macy’s model is the most expensive way to sell products and it’s remarkable that it continues to limp along as long as it does.
Most of these so called anchor store suck. They have not changed in years, the layout is stale. Add to the fact that’s impossible to find sales help on the floor or a register that is open, unless you are buying cosmetics.
and returns are a pain in the neck compared to Amazon. Great example-I was in Lord and Taylor on Saturday to do a return with young kids in tow. I couldnt return the item at the register near the door. I had to go all the way to the basement and then find the men’s section. Why? It is 2016 you would think there would be 1 computer system so I could do the return and leave. Then I had to hunt for a sales person and got a nasty look when she realized I was just doing a return.
Compare to Amazon. I can do the return whenever I want, not just from 9-10 on Saturday. I can print the label and stick it on my front porch. Even on Sunday!!!!
There is no advantage to the store when there is no customer service and the same stuff is available for cheaper online. Sorry but all these department stores should go out of business. They stink.
Plus think of how nice traffic would be without all these malls all over the place