Cramer reports Macy's 2Q earnings as poor execution? Macy's should be gaining the JC Penny customer. Walmart and JC penny stocks both increased after their earnings report. Macy's has lost it's unique brand. Go back to the drawing board and re-invent your strategy. You can do it. Maybe in 20 years!
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Story is a joke and a waste of money. They change it every 3 months (at a cost, no doubt), but never seem to advertise or promote what it is in their ads on TV or radio. How are customers to know about it, unless they are already in the store? IMHO, they need to seriously get back to basics, and look at how to reach out to people to get them off of their phones and computers (and online shopping), and into the stores. Be creative: demonstrations, entertainment, blood drives, themed sales (carnivals with clowns, etc). There is alot they could do to invigorate the Macy's brick and mortar shopping experience. Visual appeal and glitz (which is very expensive) will not attract customers into stores.
Macys stock is tanking quickly
They have laid off all the executives that had a business sense or else they left .
Retired Sales Manager here........"rent a garment?"......M has already done that.....for years......except it was free........buy any garment........wear it once, or until you don't want it anymore......return for full refund with your receipt.......no receipt? We will be happy to spend half an hour or more to find your purchase in our database......this was our culture for years and years......to make our customers happy.....but not a sustainable business model......the journey to where M is currently has not been a happy one.........
With that said, they have already attempted to re-invent them selves with Backstage and Story. Now rent a garment? problem is they copy everyone. Can't you guys come up with something unique? Hey, I know Taco Bell just opened a Hotel. Why not try that! The Red Star Hotel..... there you go. You heard it here first!
They don’t have 20 years!