"Macy’s is planning to test several, smaller Macy’s stores outside of shopping malls, as well as a Bloomingdale’s store off-mall."
Gotta tell you, makes me both laugh and cry. B & C size stores were always the cash cows for Belk. Yet they were allowed to rot from corp. neglect. Meanwhile the suits were wined, dined and blinded into investing into flashy money losing flagships.
My last store returned an EBITA well north of 20%. Think I could get new carpets, paint, fixtures, nevermind staffing to service a very busy hugely profitable store?
Nope. Flagships. 2 of the 3 monster sized ego massaging stores that were newly opened before I retired...now closed, forgotten and the debt simply rolled into the growing corp. deficit columns.
Kohls became who they were by emulating Belk's strategy of smaller stores in local profitable markets. Then they too became blinded by greed and began opening bigger and bigger stores in overbuilt markets. I-95, I-75, I-40, I-10 and so many more drive-by highway exit burb plastic mall centers.
Here's an idea!!! Maybe Sycamore can sell out to Macys enticing them with some 250 smaller locations around the South?
What?
Who cares if they're now all neglected s**tholes? A little paint, tile instead of carpet...lipstick on the fat bovines. Surely Macys would want them? Or not!