Macy's
Foot Locker is the latest retailer to reduce its store count in an effort to cut costs, according to a March 2 Business Insider report. More specifically, the retailer plans to close approximately 110 stores this year, mostly those that are considered underperforming locations. This latest round of store closures augments the 147 stores that Foot Locker closedโฆ
Traditional retailers are struggling. In the spring of 2016 alone, we saw Sports Authority declare bankruptcy, Aeropostale lose 93 percent of its share price before declaring insolvency, and sales at Kohl's drop. Even as recently as August 11, Macyโs announced it will close another 100 stores. There's little doubt that competition from online retailers hasโฆ
Macy's chief Terry Lundgren said Wednesday it was a business decision to end the retailer's 11-year menswear collection partnership with Donald Trump. Trump stirred a storm of criticism by making disparaging remarks about Mexican immigrants when he announced his bid for the GOP presidential nomination in June. Refusing to comment on what Trump said, Lundgrenโฆ
Alibaba Group Holding Ltd said it signed an agreement with the Chinese joint venture of Macy's to set up the U.S. retailer's store on its online marketplace, Tmall Global. The deal makes Macy's the first U.S. department store chain to join Tmall Global, Alibaba said on Wednesday. Alibaba and its newer rival JD.com have beenโฆ
Dozens of the nationโs largest retailers including Macyโs, Amazon.com and Home Depot have quickly moved to disassociate themselves from new discount retail website Jet.com. The retailers complained to Jet after discovering it had placed links to their sites without permission, promising its own members cash back for making purchases after clicking the links. A comparison of Jetโsโฆ
Nearly 700,000 people have signed a petition calling on Macy's to fire Donald Trump. NBC cut ties with Trump for calling Mexican immigrants rapists and drug runners. Those comments stemmed from a speech in which he announced his intention to run for president. Now, some consumers argue Macy's should follow suit and dump the businessman.โฆ
Tuxedos are coming to Macy's. The department store chain announced a 10-year agreement with Men's Wearhouse to open tux rental shops at 300 of its stores, according to MarketWatch. Menโs Wearhouse will staff and control the tuxedo shops in Macyโs stores. Seventeen pilot tuxedo shops will open in the fall of 2015 in New Jersey,โฆ
Department stores have dominated the cosmetics world for a long time. Macyโs purchase of the growing Bluemercury chain is an acknowledgment that things are changing at the lipstick counter. In February, Macyโs paid $210 million for Bluemercury, a chain of upscale beauty shops and spas based in Washington, D.C. Bluemercuryโs new Dallas store is the first of aboutโฆ
Kohlโs is about to try its hand at โoff priceโ retail, becoming the latest retail chain to open an outlet store to lift sales and profits. The department store will open a single 30,000 square-foot store in Cherry Hill, N.J., near Philadelphia, in June that will be stocked with โlike newโ clothes, accessories and homeโฆ
Macyโs is launching Macyโs Backstage to help it spur growth. The outlets will offer clearance goods from Macyโs stores as well as brand