Macy’s says it will close 35 to 40 stores in early 2016

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If you shop at Macys are you worrid about losing the store?

YES
0
No votes
NO
6
75%
Don't care other places to get cheap appliances for under 20 bucks on BF.
2
25%
 
Total votes: 8

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ikey2
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Macy’s says it will close 35 to 40 stores in early 2016

Postby ikey2 » Wed Sep 09, 2015 5:17 pm

This will not be an issue this year for BF but i can see this cause some issue for some people in 2016 that shop at Macy's. So now the question is how many of us actually buy anything from Macy?

http://wkrn.com/2015/09/09/macys-says-it-will-close-35-to-40-stores-in-early-2016/

NEW YORK (AP) — Macy’s says it will close 35 to 40 stores in early 2016, or as much as 5 percent of its namesake department stores.

Macy’s said Tuesday it hasn’t selected all of the stores that will be closed yet. It expects the locations will have about $300 million in combined revenue. The company says employees who work at the closing stores may be offered positions at nearby locations, and workers who are laid off will be offered severance benefits.

The Cincinnati-based company says it closes a few underperforming stores every year. The company runs 770 Macy’s stores and has closed 52 locations over the last five years while opening 12.

Macy’s and other retailers are looking for new ways to boost their sales as middle-class customers try to keep their spending down, looking for deals and doing more of their shopping online. The company is preparing to open six lower-priced Macy’s Backstage stores later this year and intends to open more of them in 2016.

Over the last few quarters Macy’s has been hurt by the strong U.S. dollar, which has cut into spending by tourists, as well as a labor dispute that slowed down ports on the West Coast. The company reported $28.11 billion in revenue in 2014, up less than 1 percent from the year before.

Macy’s is also getting ready to test selling goods online in China through a joint venture with a retailer based in Hong Kong.

Macy’s Inc. also runs the Bloomingdale’s chain, and earlier this year it bought upscale beauty retailer Bluemercury. It has a total of 885 locations.

On Tuesday the company said it will experiment with selling consumer electronics, as it will open Best Buy shops inside 10 of its stores in November. Those departments will be staffed by Best Buy employees.
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Re: Macy’s says it will close 35 to 40 stores in early 2016

Postby cinemike16 » Thu Sep 10, 2015 2:38 am

Two of my nearest Macy's stores closed over the last five years. I never shopped there much so their "passing" didn't bother me. When/if Sears/Kmart ever closes up, then I'll start being concerned as those stores are the ones we shop at the most it seems :lol:

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Re: Macy’s says it will close 35 to 40 stores in early 2016

Postby teknoge3k » Thu Sep 10, 2015 5:53 am

Yea let's be honest, how many of us or even people we know really even shop there? lol - I think we bought a pillow from there last BF because they were on sale. Aside from that, we've never shopped there.
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Re: Macy’s says it will close 35 to 40 stores in early 2016

Postby cinemike16 » Thu Sep 10, 2015 4:13 pm

My question is, will these store closing which I assume is due to a company-wide financial crisis effect the Macy's Thanksgiving parade in NYC? We look forward to catching it on TV every year, I've said for years that one of these days we'll take a trip down the city to see it in person but haven't made it yet.

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ikey2
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Re: Macy’s says it will close 35 to 40 stores in early 2016

Postby ikey2 » Thu Sep 10, 2015 5:30 pm

cinemike16 wrote:My question is, will these store closing which I assume is due to a company-wide financial crisis effect the Macy's Thanksgiving parade in NYC? We look forward to catching it on TV every year, I've said for years that one of these days we'll take a trip down the city to see it in person but haven't made it yet.



Don't see that ever ending since it is such a big deal and important historical parade.
“Every time a cash register rings, a food court employee gets his Buffalo Wings.”
Hester, Pat

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Re: Macy’s says it will close 35 to 40 stores in early 2016

Postby kenziekinz09 » Thu Sep 10, 2015 10:50 pm

cinemike16 wrote:My question is, will these store closing which I assume is due to a company-wide financial crisis effect the Macy's Thanksgiving parade in NYC? We look forward to catching it on TV every year, I've said for years that one of these days we'll take a trip down the city to see it in person but haven't made it yet.


We did it once when I was a kid. I'll never do it again :lol: :lol: Maybe if I had a hotel room along the parade route but no way I'm gonna be outside again.
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Re: Macy’s says it will close 35 to 40 stores in early 2016

Postby raymacfla » Sat Sep 12, 2015 1:11 am

So now best Buy becomes the proverbial Trojan Horse. It gives each evil empire a chance to see what works and where to possibly build a future store without a full retail commitment.


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