Macy's U.S. Department Store Network Announces New Development Strategy
12.08.2016 4480

Macy's U.S. Department Store Network Announces New Development Strategy

Macy's, the largest US department store chain, has announced the closure of 100 stores and plans to focus on online trading and digital retail technology, Footwear News reports.

“The plans that we announced are related to our new vision of the role of stores, the quality of shopping, and the realization of how and where we should invest for the further successful development of the business,” said Jeff Genette, president of Macy's Inc. “In the short term, the sales of the top line of our company will be slightly reduced, but all the changes made will allow us to increase sales relatively quickly and reach a higher level of profitability.”

Macy's will close 100 stores throughout the United States, since their availability has not been profitable for a long time - the cost of real estate is higher than the value of the store. Macy's retail network now has 728 outlets. Part of the stores will be closed in the first half of 2017.

According to the president of the company, the closure of 100 stores will allow Macy's to accelerate the development of the omni-channel strategy in the long term - “We will be able to direct more efforts to develop the shopping experience in our stores and strengthen interaction with our customers in all areas of sales.”

The company said that according to the new strategy, the stake will be made on the development of digital technologies. In addition, more new shop-in-shops will appear in Macy's department stores, the package of services under the My Stylist personal shopping service will expand, and emphasis will also be placed on conducting various events in retail for better interaction with customers.

Developing a new retail strategy, today many traditional retail operators are busy. While millennials are becoming major consumers, retailers are looking for ways to get closer to the representatives of this generation who grew up in the era of mobile technology. So in recent years, Macy's has been actively collaborating with IBM to equip its stores with digital technology.

In the future, Macy's and Bloomingdale's will expand the use of technologies such as online shopping, Pick Up Instore will also update its website and applications.

Macy's is one of the largest and oldest retailers in the United States, founded in 1858. The stores of the network are focused on the sale of clothes and shoes, and also stores sell furniture, household goods, bedding, jewelry, and cosmetics.

The largest US department store chain Macy's has announced the closure of 100 stores and plans to focus on e-commerce and digital technologies in retail, according to Footwear ...
5
1
Rating

Latest News

Major players in the sportswear and footwear market are experiencing a slowdown in sales

The sportswear segment was not immune to the effects of inflation: in 2023, sales of the main players slowed down, writes...
23.04.2024 265

Portugal overtakes Spain in shoe production

Portugal has become the second largest shoe producer in Europe, overtaking Spain. According to Eurostat, Portugal produced 2022 million pairs of shoes in 85, two million more than its Spanish rival, writes...
23.04.2024 1159

Puma has released a commercial version of the biodegradable Re:Suede sneakers

After two years of its biodegradable footwear pilot program, German sportswear and footwear manufacturer Puma has released a commercial version of its biodegradable Re:Suede sneaker...
23.04.2024 1214

"Sportmaster" will launch a branded Kappa network in Russia

The Russian retailer, which is developing a multi-brand network of sports goods “Sportmaster”, is going to launch a separate retail network of the Italian brand of sportswear and footwear Kappa, the products of which are already presented in “Sportmster” stores -…
23.04.2024 1190

Aquazzura opens a boutique in Saint-Tropez, France

Italian luxury shoe and accessories brand Aquazzura continues to develop its network in France. After opening its first boutique in 2022 on rue du Faubourg Saint-Honoré in Paris, the brand founded by Edgardo Osorio will open a second one at the end of April…
22.04.2024 1279
When you sign up, you will receive weekly news and articles about the shoe business on your e-mail.

To the beginning