I hate to say this, but the department store has been eclipsed. This sadly means that it is unnecessary. It is non sequitur. It has no reason.
I personally like J.C. Penney and shop there. I believe that they will be done in by their debt.
Nordstrom really does a good job with salespeople who do seem to give a darn and be much better trained than the other stores. I do not consider Nordstrom a typical department store; it borders on specialty store, in my opinion. (Mr. Phibbs is RIGHT!)
Kohl's is a different animal all together, and Macy's is different too. Yet Macy's and Penney are most alike, even though I am certain that Macy's would incorrectly want to be compared with Nordstrom. That would be comparing a store brand with Hagen Daas, for example.
The problem is that none of these stores matter. If all of them disappeared tomorrow, it would NOT matter. It would be a horrible thing for all the people who work at those stores, but for the customer -- nil.
I believe that in ten years the only one to be around will be Nordstrom, if they remain committed to service, and perhaps Kohl's. I say that only because they seem to have been the "darling" for so long. It will take time for their customer to age and go away.
However, I hate to say this but again, if they all disappeared tomorrow -- aside from the terrible loss of jobs -- what would it matter? That is the problem: they do not matter. Making something relevant in that situation is difficult. And Amazon becomes easier and more accommodating every day!
Lord & Taylor is an American retail icon. L&T heralded and championed American designers in the mid 20th century and at that time was "new and modern"
Lord and Taylor is the last and only surviving carriage trade store! All other Carriage trade stores are gone, passed into history.
I am certain that no one knows that L&T is the last carriage trade store -- and no one cares!
The day of L&T sadly has long passed. It has some very nice locations and store properties -- that is it's value now --- and I am SURE there are some bright smart people working for the company, along with many other hard working people who will sadly lose their jobs!
That is brilliant! I am unaware of how dire things at Dillard's are, but the L&T store portfolio includes some very nice locations and this would be a terrific opportunity for Dillard's to get into some new markets -- if they have the wherewithal. Great possibility!
Dillards should however not over pay for L&T. That would be a terrible and costly mistake. The price would most certainly have to be "right." It would be better to wait and be patient for Lord & Taylor to fail completely, then they could potentially swoop in and get locations without the difficulty of closing bad locations/underperforming stores.
Many Stage stores are in communities where there really is little other choice. Like Mr. Mathews said, execution will be so important. But I believe that in a lot of their communities, this could really benefit them as well as the shoppers they are serving! Without doubt, in their larger communities they face stiff competition from TJX, Ross, and possibly Macy's Backstage, but if their execution is good and they build a good foothold, their customers may see them as a reliable and dependable destination.
Kudos to Philly! Detroit, Miami, L.A., Chicago, the New York Boroughs, and many others should do the same! So insulting and out of touch. I am so happy for all the Amazon
marketers and higher ups who are so well off that the thought of cash and dealing with it is ridiculous to them! How out of touch! There are a lot of people who do not have the ability to keep a minimum in a bank and avoid fees taking money out of a hard earned paycheck -- and maybe it is difficult getting credit. Many, many people live paycheck to paycheck.
I guess that is the plan! The Amazon higher ups and maybe even some of the potential customers may not want to actually "deal" with this part of the population?
I am sorry, I am being mean and judgmental. But it makes me wonder....
I applaud Walmart for their laser sharp focus. They know their customer and serve them well. At the same time they are so open to trying things. They take Amazon on -- head on -- and they do not seem afraid and they show NO SIGN of surrender. They are behind Amazon with regard to on-line, but they continue to learn and continue to grow! They really seem to be the only one with a decisive plan and attack to fight and be successful. They also seem to realize the strength of their bricks and ways to use them for overall benefit. They are being expertly lead and they are expertly executing right now!
When I was in college and for several years thereafter, I shopped Payless as a "go to" for shoes. They had an unbelievable selection of dress and casual shoes and many styles of boot. It was amazing. The quality was poor, however the prices were ridiculously low. On sale, I usually bought under ten dollars. When the shoes wore out, I was usually over them anyway, and they DID last for a few seasons. It was terrific.
I now can buy better quality shoes, however, the selection at Payless fell apart about ten years ago. All of the interesting and different shoe styles they had previously offered dried up and disappeared. The offerings became stale and expected. Also their prices steadily rose to the point where they lost out to much better quality shoes at many other retailers at the same price or less with a sale!
So now Payless is going out of business. I am really sorry for all the people that are losing their jobs! Their closure otherwise has no effect on me because they no longer enter my thought of a potential supplier when I am in need of footwear.
A mess! I never understood what they were doing going into appliances and I do not think they did either. The original "We have appliances since Sears is gone" was okay, and then -- nothing -- no advancement of that narrative! Likely simply a comfort spot for Mr. Ellison. Good riddance to appliances. However....
(And I really like JCP. I shop them for much of my business clothing.)
None of this matters. Their unsustainable debt load is going to kill them! I am very afraid that the debt will disallow any real change through the starving of operative cash! We are already watching this -- Painful!
This is an early implementation. Let us face facts. Eventually there will only be robots and they will replace associates. I do not know what all these people are going to do once robots have taken all their jobs.
The future is rapidly approaching and companies will save money. We need to think of the personnel expense. Someone has to think about that because money will be saved, yet what of the humans?
Hopefully we will be able to solve this and have robots both benefit us and save money, but will we need work to make money to buy the food the robots are selling?
Umm -- their day was done several years ago. Every younger person I know, when asked if they would go holiday shopping, looked at me kind-of sideways....
Search engines, predominantly Amazon, allow purchase from your home in your pajamas having your own coffee with unlimited selection, with the TV streaming You Tube or sports on Apple TV. Why would they get dressed, drive, park, perhaps pay for parking, fight the crowds, fight for attention from limited overworked untrained and possibly disinterested sales staff? Are you kidding?
Is there ANY way to compete with the search engine?
We have forgotten the show and we have bottom line pencil pushers only looking to save money. Sometimes it costs money to make money!
When I lived in Chicago, every Saturday, I got up early and took the EL into the Loop and spent the morning at Marshall Field & Company. The selection was unparalleled, the staff were trained, knowledgeable and excellent, and the store had several floors that morphed and changed as seasons changed. A cute young lady would hand out samples of that seasons flavor of Frango mints, I would dine at the Walnut room or more likely enjoyed a great meal of homemade style food at the Marketplace in the stores' lower level. (I particularly liked the meatloaf and mashed potatoes!) On any regular weekend it was fun and well worth the trip every time. At holiday season it was magical and even more spectacular. This was not 1976 -- it was 2000-2001 and-2005-2006.
In the future, someone with a vision and smart enough to read history may open a store like that in some big city and perhaps it will be great. I think Nordstrom has hit on a future relevance with its experience store in the Los Angeles area. But as for the regular outpost of any name you want to throw out, I think, unfortunately, it is simply time -- until they are no longer.
I hope they try anything and everything that they can afford to, and give it some time to succeed in the chosen stores where they are experimenting with "X." We must give Ms. Soltau a little time. Hopefully, steady, small continuous steps will create a forward path!
My biggest concern is that the darn debt will kill them! There is no getting around that. They were left cash starved after Mr. Johnson, and that situation has become worse. And the debt is formidable and terrible.
I am biased; I really like Stafford and buy a lot of my work clothes and clothes in general at Penney's, at my JCP. They have nicer selection than everyone's favorite -- Kohl's.
I wish them the best and I remain worried for their demise. The debt is the biggest problem ---it takes away their time.
This is a mess and I did not think the acquisition was a good one for Dollar Tree in 2014. Family Dollar has a big problem with its identity. People see Dollar General as far better if you ask random shoppers in front of either store.
The mention of a new brand is good. Cherry pick the best locations of Family Dollar and transform those to your new brand with a store renovation and re-merchandising. That is expensive, but will utilize good locations that Dollar Tree already has in its control.
As for the remaining Family Dollar stores, I would let them limp along as long as they pay their way and if there is a problem, close the location. Family Dollar does give Dollar Tree an entry into the more than one dollar price business, which may become very important into the future.
The younger generation will never miss the closed flagship stores and will also never know what they were or what they meant. And what they were and what they meant no longer applies either. The restaurants, service, extensive and extended offerings at the flagships have lost all meaning in today's world, where anything can be found online and delivered to your door. The online portal -- the search engine is the new flagship -- not even a specific store, because it is all there. However the sights and smells and service and attention, the fancy boxes and bags, the feeling and the experience of the former flagship store ... that is not available online and that is a sad thing to lose. Ralph Lauren has Madison and the Gap flagship really was not. However, with the demise of L&T and 5th Avenue, we see disappearing one of the last and final representatives of what was. (L&T was the last carriage trade store of American history!)
In the glory days, 5th Avenue was lined with incredible flagship stores that were amazing places to experience -- L&T, B. Altman, Bonwit Teller ... All amazing places. And before my time, Arnold Constable and Best & Co. And there was Franklin Simon ("A Store of Individual Shops"). They were amazing places, but their time has passed. Thank goodness Saks is still there -- and Bergdorf's.
New retailers will head to 5th Avenue in the desire to be in that important place, as it always has been. It will be different, but there is nothing that stays the same. I am simply happy that I was able to experience the end of the "glory" of the American department store. It is not necessary anymore.
However, if you make your store an experience and a pleasure -- even today -- you can be a destination, drive sales, and can remain relevant (Nordstrom, Von Maur). Today we have businessmen and retailers, but we have lost the art of being a merchant -- and we have lost the "show."