Downtown Prices Move Uptown

Discussion
Jul 21, 2003
George Anderson

By George Anderson


Bargains are in these days in the best of circles. Discount retailers such
as Stein Mart, covered in a Washington Post report, are finding new homes
and greater success in areas previously reserved for the Neiman Marcus’ of the
retailing world.


Renee Katziff, a spokeswoman for TJX Cos. owner of T.J. Maxx and Marshalls
said, “Off-price shopping is not about affordability. Even in an upscale area
like Chevy Chase, all classes like a bargain.”


Frank Guzzetta, president, Hecht’s knows that off-price retailers are benefiting
at his stores’ expense. “There’s a definite battle,” he said. “All of us (department
stores) are getting hurt by it to some degree.”


Moderator’s Comment: Are department stores going the
way of the dinosaur in the US?


They are certainly heading toward endangered retail species
territory.
[George
Anderson – Moderator
]

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