How quickly can we cut.
That’s the mantra for U.S. department stores these days after every
major chain in the industry reported disappointing quarterly sales. The
companies are adjusting to a new reality where customer traffic may be
slow for years, adding urgency to efforts to slash expenses, close
stores and improve product margins.
“These are structural issues that need to be addressed,” said Simeon
Siegel, an analyst at Instinet LLC. “Once you acknowledge that sales are
lighter, you need to address your profitability -- that’s the
do-more-with-less piece.”. . . more