Macy’s Inc, the corporate parent of luxury department store Bloomingdale’s, has been trying to shrink itself to prosperity over the past five years without much success. Back in 2018, the company generated $25 billion in revenues and $1 billion in net income out of 867 stores – 649 Macy’s, 55 Bloomingdale’s and 163 specialty Bluemercury […]
Tag Archives: Macy’s
Macy’s Plans for Bloomingdale’s: Reclaim Luxury Leadership
In Macy’s Inc. recent earnings call, the most surprising news was the opportunity it sees in luxury. It surprised CNBC’s Lauren Thomas too, who immediately got on the phone with CEO Jeff Gennette to get the scoop. He said the collapse of competing luxury department stores, notably Barney’s, Neiman Marcus, and Lord & Taylor, combined […]
What Malls Must Do Now That Macy’s and Sephora Are Abandoning Them
The fate of many of the nation’s malls hangs in the balance after Macy’s just announced it will close 125 of its stores over the next three years, most of them Macy’s. Here is a partial list of the malls impacted. The move will leave Macy’s with only about 400 stores remaining after shrinking from […]
Donna Karan’s Defense of Weinstein: When People Do Bad Things To Good Brands
Donna Karan walked out onto the red carpet recently at the CinéFashion Film Awards in Los Angeles and immediately stepped in a big, stinking pile of it. When asked about the allegations of sexual misconduct by her friend Harvey Weinstein, she instinctively jumped to his defense: “We have to look at ourselves [and think], How […]
The Macy’s 100 and its Collateral Damage
Following the news that Macy’s will close 100 stores in early 2017, Wall Street and the pundits gave thumbs up to the move. After all, everyone agrees that the U.S. economy is ‘over-stored.’ But while closing 15% of Macy’s stores may help its balance sheet, the move is going to result in collateral damage that […]