Wednesday, June 21, 2017

Macy's continues Backstage push into full-line stores

Along with a correction to its massive U.S. physical store footprint (which involves shuttering at least 100 stores), the company under CEO Jeff Gennette is aiming to foster the treasure-hunt mentality that has stoked the success of off-price retailers like T.J. Maxx. To that end, Macy’s is incorporating its nascent Backstage unit into its stores (in stark contrast to Nordstrom, whose off-price Rack stores are distinct from its full-line Nordstrom stores) and revamping shoe sales to “open-sell” racks reminiscent of off-price stores.

It’s also not clear whether these efforts have legs, though Howard Davidowitz, chairman of New York City-based retail consulting and investment banking firm Davidowitz & Associates Inc., says Gennette needs some space and time.. . . more

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