Originally Posted By Jim in Merced CA I can't remember the last time I bought something at a Macy's, Boston Store, Sears or JC Penney. I either shop at Kohl's or Target.> I like Macy's. I like Target and Kohl's too, but I can't find clothes for myself there -- so have to venture out into the 'real' stores to do that.
Originally Posted By Jim in Merced CA This just in... Fresno-based, regional department store Gottschalk's is going to file for bankruptcy, possible today. The closure of 15 stores is supposed to be announed. To me, not surprising... The one here in Merced doesn't really carry anything that you can't get at other department stores. And for me, fashion icon that I am, I've never bought clothes at the Gottschalk's here, as the men's department seems to appeal to 60+ year old retirees. Stay tuned.
Originally Posted By alexbook Don't forget Cost Plus. They just announced 26 stores closing. Here's a depressing read: <a href="http://blog.robertsalomon.com/2009/01/05/notable-bankruptcies-of-2008-final-tally/" target="_blank">http://blog.robertsalomon.com/...l-tally/</a> has a list of "notable" bankruptcies of 2008, from AIG to Ziff Davis.
Originally Posted By SingleParkPassholder "I think Macy's didn't handle the transition as well as they should have when re-making the properties they purchased. Many people in the Twin Cities area really loved Marshall Fields. When Macy's bought the stores they pretty much ignored what shoppers had come to expect and seemed to have an attitude of "We're MACY'S... we'll tell you what you REALLY want". Well, they were wrong." Boy howdy. As someone who poured 16 years of his life into the Broadway Department Stores out here in California, literally leaving a trail of blood and broken bones (Loss Prevention, remember), Macy's blew it BIG TIME when they purchased the Broadway and changed the name. They did the same to Robinson's/May Company as well. Broadway, Bullock's, May Company, Robinson's, were all institutions out here. In retailing, tradition matters to quite a lot of customers, and they don't seem to understand that while macy's is a tradition in its own right, so were Marshall Field's and the aforementioned stores. Really, what would it have hurt to keep the names?
Originally Posted By Jim in Merced CA I don't know, SPP. I grew up in SoCal and when The Oals openef in Thousand Oaks in 1978 -- truly, there just wasn't much difference between May Company and The Broadway. And a certain sameness to Robinson's and Bullock's.
Originally Posted By beamerdog >>Once was enough for me at RFC<< And for my children (10 & 8 at the time we went) who thought it was lame and the food bad and service non-existent. Macy's has always done well in Delaware. The two stores in northern New Castle County will remain open. I know that a few years ago the one in Christiana Mall was one of their top producing stores. It helps to have no sales tax here and border or near 3 states with tax.
Originally Posted By beamerdog There are no "large" stores here that are high end. All high end shopping is in Greenville in specialty shops. I just found a purse in a resale shop listed at $8,000, lol. Maybe in my next life <a href="http://tinyurl.com/7jwuh7" target="_blank">http://tinyurl.com/7jwuh7</a>
Originally Posted By alexbook Does anybody else find it ironic that National Wholesale Liquidators has gone bankrupt?
Originally Posted By RoadTrip And is Macy's losing money?? Heck no. They just aren't making as much as the shareholders want. The retailers can cry crocodile tears and the gloom and doomers can wring their hands all they want. They fact is many retailers, even with the reduced sales volume, are still making money! <<Same-store sales fell 7.5 percent during the combined November and December holiday period. The company said it marked items down sharply in the fourth quarter to gain sales and reduce its inventories, but that hurt its margins and led it to lower its profit forecast for the fourth quarter and full year. Macy's now expects earnings of 90 cents to $1 per share in the fourth quarter, down from its previous guidance of $1.10 to $1.30 per share. Analysts expect earnings of $1.11 per share. For the full year, the company now expects to earn $1.10 to $1.20 per share, down from its previous forecast of $1.30 to $1.50 per share. Analysts expect a profit of $1.35 per share.>> Source: <a href="http://www.twincities.com/allheadlines/ci_11405319" target="_blank">http://www.twincities.com/allh...11405319</a>
Originally Posted By dshyates For many retailers we are just seeing the correction of over expansion during the years of fat credit. Macy's is definitely guilty. No Tears here.
Originally Posted By vbdad55 no tears here either except for those who will lose their jobs as they correct their balance sheets
