topic Re: Macy's To Close 100 Stores Next Year in Fashion

Macy's To Close 100 Stores Next Year

handygal2 — Thu, 11 Aug 2016 13:20:21 GMT

Macy's has seen a 3.9% drop in sales the second quarter of this year. Online shopping competition is mostly to blame. The chain plans to improve the shopping experience to help draw more customers back into the store, as well as to retool their website. I notice that their stores are sometimes in disarray, and sales help is hard to find.

I hope they can turn their operation around. They are a national retail institution, and l would hate to see them go out of business!

Here's a link to a brief article:

http://www.usatoday.com/story/money/2016/08/11/macys-second-quarter-earnings/88529042/

Re: Macy's To Close 100 Stores Next Year

software — Thu, 11 Aug 2016 13:26:31 GMT

And online is saying their sales are down??

What gives?

Despite the glowing news reports of a great economy, I think people are conservative with their $$$$$

Maybe holding back until Christmas.

@handygal2 wrote:
Macy's has seen a 3.9% drop in sales the second quarter of this year. Online shopping competition is mostly to blame. The chain plans to improve the shopping experience to help draw more customers back into the store, as well as to retool their website. I notice that their stores are sometimes in disarray, and sales help is hard to find.

I hope they can turn their operation around. They are a national retail institution, and l would hate to see them go out of business!

Here's a link to a brief article:

http://www.usatoday.com/story/money/2016/08/11/macys-second-quarter-earnings/88529042/

Re: Macy's To Close 100 Stores Next Year

Snicks1 — Thu, 11 Aug 2016 13:28:48 GMT

The Macy's store closest to me (about an hour away) closed this past year.

Re: Macy's To Close 100 Stores Next Year

SilleeMee — Thu, 11 Aug 2016 13:34:04 GMT

Macy's has been closed here for several years now. Everytime I was in that store I never saw any crowds. So I am not surprised at all to see more closings.

When I was a kid my grandma would take us to the NYC Macy's on 34th at Christmastime. I loved their window decos! And then the parade!

Re: Macy's To Close 100 Stores Next Year

QVCkitty1 — Thu, 11 Aug 2016 13:38:33 GMT

We lost one too at a nearby mall, and I miss it.

Re: Macy's To Close 100 Stores Next Year

bri20 — Thu, 11 Aug 2016 13:39:03 GMT

I haven't shopped at Macy's in years. The store is always a mess.

I could never find a sales person. If you ask for a box, they make such a big deal about it.

Don't even get me started on the coupons...

Re: Macy's To Close 100 Stores Next Year

colliegirls — Thu, 11 Aug 2016 13:39:46 GMT

I have no idea how Dillards stays in business. There has been hardly anyone in the store close to us for years.

Re: Macy's To Close 100 Stores Next Year

Sweet_Serenity — Thu, 11 Aug 2016 13:40:37 GMT

Retail sales aren't the only area, Restaurants are experiencing low sales. Agree with previous comment, People are saving money.

Re: Macy's To Close 100 Stores Next Year

Lipstickdiva — Thu, 11 Aug 2016 13:42:08 GMT

My local store was on the last closing list. It closed earlier this year. It's sad to see these stores closing. I was out and about last night and drove past our local mall. It's like a ghost town.

Re: Macy's To Close 100 Stores Next Year

CAMOGIRL — Thu, 11 Aug 2016 13:43:21 GMT

There is never many people in the one I shop at occasionally - VERY occasionally. It is not the products they sell, it is the people they hire that keep me away from shopping there. Totally and completely useless. I think their never ending sales have hurt them more than help them too - I think people have finally caught on that there is always some kind of sale with that store and it really is not big of a deal anymore.

Re: Macy's To Close 100 Stores Next Year

Lipstickdiva — Thu, 11 Aug 2016 13:45:47 GMT

@colliegirls wrote:
I have no idea how Dillards stays in business. There has been hardly anyone in the store close to us for years.

This was another store at my local mall that closed years and years ago. I loved that store.

The only 2 anchor stores left at my local mall are Penneys and Sears and I'm surprised they have lasted this long. I actually look for our entire mall to close in the next couple of years.

Re: Macy's To Close 100 Stores Next Year

Winkk — Thu, 11 Aug 2016 13:53:36 GMT

@software wrote:
And online is saying their sales are down??
What gives?

Despite the glowing news reports of a great economy, I think people are conservative with their $$$$$

Maybe holding back until Christmas.

@handygal2 wrote:
Macy's has seen a 3.9% drop in sales the second quarter of this year. Online shopping competition is mostly to blame. The chain plans to improve the shopping experience to help draw more customers back into the store, as well as to retool their website. I notice that their stores are sometimes in disarray, and sales help is hard to find.

I hope they can turn their operation around. They are a national retail institution, and l would hate to see them go out of business!

Here's a link to a brief article:

http://www.usatoday.com/story/money/2016/08/11/macys-second-quarter-earnings/88529042/

@software - I just read an article this morning confirming your statement. People are just not spending money.

Re: Macy's To Close 100 Stores Next Year

novamc1 — Thu, 11 Aug 2016 14:25:11 GMT

The analysts who study retail trends say that people have NOT stopped spending money. They've just changed their shopping habits.......buying cars, eating out (despite rumors about restaurants lagging--only some are), having recreational "experiences" and doing most of their shopping online. Not so much emphasis on shoes, accessories and clothes these days, apparently.

The department store as a business model apparently has become outmoded. Few people (myself included) enjoying cruising a huge store for an hour or more and pawing through shopworn merchandise just to come up with one item they might want to buy.

I've long admired Macy's CEO, Mr. Lundgren, and he spoke on TV this a.m. about how Macy's is adapting to more online selling. Also, Macy's got on board with the big boom in cosmetic/beauty product sales by buying Blue Mercury in the past year or two.

Meanwhile, Kohl's just reported decent earnings. And stores such a TJ Maxx, Marshall's and HomeGoods are doing extremely well.

Re: Macy's To Close 100 Stores Next Year

Scooby Doo — Thu, 11 Aug 2016 14:24:25 GMT

I recently received an email from Macy's saying that the store about 5 min from my home is closing. I usually buy on line and if I decide to return the item I take it to the store close to me. So this is going to be inconvenient. However, they are currently building a nice new Macy's at one of our busy popular malls. Dillards did the same thing last year, tore down an older building and built a new one on the other side of the mall.

Re: Macy's To Close 100 Stores Next Year

ChynnaBlue — Thu, 11 Aug 2016 14:50:53 GMT

@Sweet_Serenity wrote:
Retail sales aren't the only area, Restaurants are experiencing low sales. Agree with previous comment, People are saving money.

In my case, I stopped shopping at Macy's in 2013, when they and other retailers sent Rick Perry a letter asking him to veto a fair pay for women bill in Texas. I used to shop at Macy's but haven't spent a dime there since. The majority of their shoppers were women and if they're not going to respect the money we earn, they don't get to have any of mine.

Re: Macy's To Close 100 Stores Next Year

PinkyPetunia — Thu, 11 Aug 2016 14:52:13 GMT

I would not be surprised to see the Macy's near me close. It's outdated and never has the sale items advertised in the flyers. Recently I saw a piece of hard anodized cookware I wanted (Sunday flyer). It was not in stock in this store but the clerk ordered it for me online and I got it with free shipping.

This is the Livingston Mall in NJ. The whole mall is in a time warp going back to 1980. I go there because it's close and the parking is easy. If this store closes I can go to the Macy's in the Short Hills which is not even 10 miles further, but the parking there is crazy busy.

Re: Macy's To Close 100 Stores Next Year

wilma — Thu, 11 Aug 2016 14:53:50 GMT

My Macy's is usually pretty busy. It is neat and organized. Someone usually asks to help me. Overall, I have good shopping experiences there. I hope mine doesn't close.

I guess I am in the minority because I still prefer shopping in person. There are just too many things that can go wrong when buying clothes online. Just because I like it online, and it's in my size, it might not fit the way I want or just not look right. I hate returning things so taking time to shop and try on in a store solves that issue.

Re: Macy's To Close 100 Stores Next Year

novamc1 — Thu, 11 Aug 2016 15:00:56 GMT

re: consumer spending

New York Federal Reserve Bank reported this week that borrowing to finance vehicles and credit-card purchases rose in the third quarter, offsetting declines in outstanding mortgage and student loan debt.

I believe consumers are devoting more money to buying homes and furnishing them. I've been working via Craigslist to downsize my own home and have sold several thousand dollars worth of goods in the past year. If folks aren't spending in stores, they sure are doing it in the secondary market. Why pay retail price to a store when so many transient job-changing younger people and aging baby boomers are getting rid of their household goods and moving on?

Meanwhile, today's Washington Post reports serious declines for luxury brands such as Coach and Michael Kors, attributed largely to their previous push to discount goods via outlet stores and thus losing their prestige status in the marketplace. Coach fell victim to the same trend and reportedly has had some success in revamping its business.

Re: Macy's To Close 100 Stores Next Year

ALRATIBA — Thu, 11 Aug 2016 15:01:54 GMT

Perhaps cosmic justice. There have been several reports in recent months/weeks on their discriminatory employment practices.

Re: Macy's To Close 100 Stores Next Year

Trinity11 — Thu, 11 Aug 2016 15:18:54 GMT

@wilma wrote:
My Macy's is usually pretty busy. It is neat and organized. Someone usually asks to help me. Overall, I have good shopping experiences there. I hope mine doesn't close.

I guess I am in the minority because I still prefer shopping in person. There are just too many things that can go wrong when buying clothes online. Just because I like it online, and it's in my size, it might not fit the way I want or just not look right. I hate returning things so taking time to shop and try on in a store solves that issue.

Like yourself, I prefer to shop in person. I also enjoy shopping at Macy's because I can always purchase Charter Club clothing and it always seems to fit me.