It's simple, when your on top or hired into a top seat you have no real sweat equity to speak or skin in the game.
And when your new or old alike and your company is under performing and sales keep missing target you start trying to reinvent a way to attract customers which ultimately drives sales.
(This in itself is a wanderful thing for the company and customers.) Normally.
With that said Macys top brass has done this also.
HOWEVER unlike a traditional company that has reinvented itself successfully such as Caterpillar in the 90s and mid 2000s, Amazon has done a good job of knowing their business and customers adapting and changing with the climate through the years.
Macys top brass I guess has decided to add to the fall rather than doing real market studies and studying customer feedback.
To add to the already horrible idea of Backstage that customers hate and has somewhat stranded its mid to high consumers to cheap India made products rivaling the nearest gas station in cost AMD quality. It time to into the (build-a-bear) look with a Lego twist in the all new train wreck STORY.... Perfect...!
So in hindsight. Instead of looking at their business what's selling what's not. And saying oh hey the .com Direct to Consumer is still charging down 15% to 32% growth while the brick and mortar losses just as much. And investing into the D2C industry of Macys.
(By the way - key indicator of who your new consumer is. Incase Macys missed it. ITS A GAL OR GUY BEHIND A CPU AT WORK).
Instead they sell more stores, layoff more people to do stupid things to try and bring consumers back into stores. Still clinging to the Brick and Morter for dear life.
I will help an exec. Out as a top leve exec. Myself. Look at your customer, look at what sector is driving sales with consistency, and lay down the fairytale land crack pipes.
While we all wish for better, nicee experiences. Your share holders do not care. They want dividens, they demand just plane ole hard nosed business period end of story.
Fairytale land and scatter brained quarks are for when you have excess capital to flush down the toilet of it doesnt work in R&D efforts. Its should never, ever, ever be your go to fall back plan.
People are loosing their jobs, families doing without as you sell stores and lay people off to fund stupid ideas for a dead or dying brick and morter idea. In the interm your shareholders and banks as well as the market has lost faith in Macys, because of the reckless sell offs and reinvestment made.
Rule 2. When in a declined market, the street notices when top brass execs. And board members start selling of large chunks of their preferred stock.. really shows not even your own members are all on board with these ideas and behaviors.
All of this because of a knee jerk reaction to a declined market. Geesh.
To all that has been layed off by Macys my most sincere prayer fo out to you and your family.