While the Black Friday 2022 shopping event is still a week away, holiday deals and sales promotions have already been underway for weeks at some of the nation’s largest retailers. Ray Wimer is an assistant professor of retail practice at…
Macy’s stores offer “little allure for the consumer”
Amanda Nicholson, Professor of Retail Practice and Associate Dean of Undergraduate Programs at Whitman School of Management at Syracuse University, offers insight on the recent news that Macy’s is closing 100 stores.
“Today’s announcement that Macy’s is closing 100 under-performing stores next year does not come as a complete surprise, in fact The Street has reacted positively to the news elevating their stock price,” said Nicholson. “After two very poor quarters it was time for action. While focusing their efforts heavily on their omnichannel strategy for the past few years, their commitment to updating and reinventing their store portfolio has been lackluster at best as sales have increasingly moved online. What would be gratifying to see is the company paying more attention to the in-store experience. Right now the off-price retailers are looking as good or better than many of the Macy’s stores and, as such, these department store locations offer little allure for the consumer.”
Nicholson, spent 20 years in the retail management field before entering higher education. She began her career with Marks & Spencer in London and then moved to Chicago to work in a variety of department store management positions. She is available to speak to media and can be reached via email at email@example.com or by contacting Kerri Howell at 315.443.3671 or firstname.lastname@example.org