Well there will be some more people sent to the ranks of unemployment. Macy's, Target, Wal Mart, the retail industry is going to see many of those jobs disappear. Never to return. What say ye? In the near future, Macy's stores could turn into discount outlets. CEO Terry Lundgren told CNBC that the brand is planning to put some of the "Backstage" stores in its existing retail locations this year. The stores will sell Macy's brands at steeply discounted prices up to 80% off. This model copies highly successful brands like TJ Maxx and Nordstrom Rack. The outlet locations would serve as a test of whether the store's new discount outlets will take business away from the higher-priced traditional stores. Macy's is closing 40 stores in the beginning of this year. Analysts at RBC Capital Markets believe that this is part of a larger trend in retail, as more customers shop online instead of in stores. Shoppers are also increasingly unwilling to shell out for expensive apparel, deciding instead to spend their money on electronics and restaurants. "Macy's announced store closings could have a number of implications on the overall retail landscape," the analysts at RBC write. "We believe Macy's decision will catalyze other specialty retailers and department stores to take a harder look at their boxes in these underperforming centers."....snip~ http://finance.yahoo.com/news/macys-just-announced-end-department-201100218.html
Would this decision have anything to do with the push for a much higher minimum wage ? 40 Macy's stores has to put a lot of people out of work . Walmart also indicated they would close stores .
Its showing they wont need those jobs. They will just go with distribution. Which then the delivery drones comes into play. Getting rid of delivery companies who will first go thru the process of laying off their drivers. Also, Target and Sears Stores. Nation-wide.
