Department stores' decade of decline

retaildive

The coronavirus pandemic has worsened an existential crisis that deepened over the last 10 years

Will Department Stores Be History By 2030?

Retail TouchPoints

The report that Barneys New York is examining strategic alternatives that could include a bankruptcy or sale is the latest indicator that department stores — even the luxury ones — just aren’t moving the needle for shoppers. The RTP editors share their opinions on the future of department stores and what they will look like over the next decade. With that said, it’s obvious changes need to be made if these retailers want their remaining stores to matter.

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The strategy behind turning department stores into warehouses

retaildive

Rumors are circulating about Amazon converting vacant department store space into fulfillment centers — a move experts say would round out its omnichannel approach

U.S. department stores struggle to stand out

RetailWire

Department stores in Japan and the UK are able to carve out a clear niche that drives shopper traffic while many of their counterparts are teetering on the edge of extinction. department stores are too stale and slow The U.S. players haven’t been able to replicate the same type of excitement and pizazz,” said Craig Johnson, president of Customer Growth Partners.

Estée Lauder will close up to 15% of its stores, exit some department stores

retaildive

The beauty giant announced a pandemic-related restructuring plan that shifts its priorities toward digital and away from unproductive locations

The Future of Department Stores

Forrester's Customer Insights

The Department Store’s Bright Future Department Stores Can Enjoy a Bright Future. Department stores must change to survive and thrive fierce competition from brands’ direct to consumer initiatives. But the Department Store’s Bright Future depends on enticing customers through the […]. Synchronizing supply and demand to sell inventory at full price is one issue.

Department stores miss out on Fourth of July consumer attention

retaildive

Specialty retailers, while giving off-price retailers a run for their money, leaned on promotions to sway shoppers, according to Wedbush analysts

Department stores may take malls down with them

RetailWire

Mall operators have long counted on anchors, typically department stores, to attract shoppers who also visit other retailers and restaurants on their visits. With a growing number of department stores closing locations or going out of business altogether, malls are having to quickly adapt if they want to survive. A report by Coresight Research says up to 25 percent of the nation’s malls are currently or will be in financial jeopardy in the near future

Macy's, Neiman Marcus look to resume exec payments as department store woes continue

retaildive

One has already reinstated equity bonuses while the other is under scrutiny in bankruptcy for its cash bonus plan

New York City department stores reopen for shoppers

RetailWire

The city’s retailers are looking to rebound after having to close stores in March due to the coronavirus pandemic and many already know that business will continue to be down as the millions of tourists that typically come to New York each year is severely affected by the COVID-19 outbreak There are deals to be had for customers wearing masks that go shopping at Nordstrom, Saks Fifth Avenue and Tiffany in Manhattan.

Department Store Shares Are Up. Your Hopes Shouldn’t Be.

Steve Dennis

Amidst reports that holiday spending was up nearly 4.9% , some optimism about the American moderate department store sector has started to creep back in. Tighter inventories, store closings and other expense reductions should lead to year-over-year profit improvements. As I pointed out several months ago , at least two major things must happen before any optimism about the prospects of any of the middle market department store brands is warranted.

New Uberall research shows struggling UK department stores are missing out on high street customers due to online ‘invisibility’

Retail Technology Review

Uberall, the Berlin-headquartered location marketing technology specialist, has announced the findings of its research into the accuracy of online location search results of the UK’s largest department stores. Critical Issues Internet Retailing

Better is not the same as good for department stores stuck in the middle

Steve Dennis

department stores reported earnings recently, a certain level of ebullience took hold. And in the otherworldliness that is the stock market, Nordstrom — the only department store with a truly distinctive value proposition and objectively good results — traded down on its failure to live up to expectations. Second, and more importantly, we cannot escape the fact that mid-priced department stores in the U.S. As most U.S.

Crossing the Digital Divide: 6 Best Practices for Department Stores and Digital Marketplace Retailers

Sailthru

When it comes to department stores and marketplace retailers, digital truly is the divide. It’s easy for department stores to get caught up in Shiny Object Syndrome, ignoring the fundamentals in favor of the bells and whistles like smart fitting rooms and augmented reality displays. Traditional department stores are improving their ecommerce offerings.

Department stores aren’t going away, but 3 big things still need to happen

Steve Dennis

It’s been a long, slow slide for department stores. In addition, Sycamore looks to be picking at the carcass of Bon-Ton Stores and Lord & Taylor is selling its iconic Manhattan flagship to WeWork. For many, this unrelenting parade of bad news leads them to believe that department stores are toast. But just as the retail apocalypse narrative is nonsense , so is the notion that department stores are going away.

Is this the beginning of a department store renaissance? Eh, not so much.

Steve Dennis

Then Kohl’s followed up with a similarly surprising upside report that led some to conclude that maybe, just maybe, the long-beleaguered department store sector might be seeing a resurgence or—dare we say it out loud?—the Without this shift, same-store sales would have increased only about 1.7% Penney and Sears ( and now Bon-Ton ) have been leaking volume through store closings and comparable store sales declines.

Department store quarterly performance: Better isn’t the same as good

Steve Dennis

Last week we had five major department stores report their quarterly earnings: Macy’s , Kohl’s , Nordstrom , Dillard’s and JCPenney. The main reason is that department stores failed to innovate. There is no fundamental reason why any given department store cannot not have a viable operation with hundreds of physical locations, particularly when we realize that some 80% of all products in core department store categories are purchased offline.

Leading department store chooses Bamboo Rose to revamp its backend

Bamboo Rose

Department stores have notoriously long, complex supply chains – take it from a leading specialty retailer with more than 30 brands offered in-store and online. The store’s brands, which should act as a cohesive unit, were acting independently of each other and using disparate systems to manage their supply chain processes. The post Leading department store chooses Bamboo Rose to revamp its backend appeared first on Bamboo Rose.

Nordstrom Launches Beauty Packaging Recycling Initiative

Retail Touch

Nordstrom has launched BEAUTYCYCLE, a recycling program that allows customers to bring their empty beauty product packaging to any of the retailer’s full-line stores or Nordstrom Local service hubs in the continental U.S.

Nike Shows No Brand Is ‘Too Good’ For Amazon

Retail TouchPoints

Nike has forged a strong direct-to-consumer (DTC) push, aiming to cut product creation cycle times in half and uniting its web site, stores and digital products under a single team called Nike Direct. If Nike — one of America’s most influential brands over the past three decades — is willing to make this jump, then it’s certainly an option retailers should take seriously, especially if their in-store or online channels aren’t selling up to par.

Can Macy’s Revive Its Brand Through Discounting?

Retail TouchPoints

Macy’s incoming CEO Jeff Gennette revealed at the Bank of America Merrill Lynch Consumer & Retail Technology Conference last week that the department store plans on making significant changes to its struggling brick-and-mortar presence. I personally have visited a store transformed from Macy’s to Macy’s Backstage and I was severely disappointed and unimpressed. Recently, this same store was slashed in half.

Nordstrom, Balsam Hill partner for in-store Christmas tree lots

retaildive

The department store joins other retailers in announcing holiday themed events to try and entice socially distanced shoppers to visit

A look back at the long history of Lord & Taylor

retaildive

The 21st century hasn't been kind to the oldest department store in the U.S.

Ecommerce Merchandising 101: The Ultimate Condensed Playbook

BigCommerce

Picture the inside of a plush department store. Above you, sparkling full-gamut LED lights illuminating the scene. To your left,… Ecommerce Marketing How to Sell Online competitive analysis

Macy's will 'reimagine' Thanksgiving Day Parade

retaildive

After disrupting the department store's turnaround, the pandemic takes yet another whack at its plans this year

Story founder Rachel Shechtman to leave Macy's

retaildive

Is the department store's reinvention over before it even began

Direct to Consumer Trends: Up & Coming Brands Succeeding with DTC

BigCommerce

Chances are you trudged along in a warehouse or department store, making… General Ecommerce Tips ecommerce trendsThink about the first time you purchased furniture.

Neiman Marcus Group plans store layoffs in pivot to e-commerce

retaildive

And they represent further erosion of the department store sector The changes are "substantial," according to WWD, which first reported the news.

Nordstrom to open 2 more Los Angeles-area Local stores

retaildive

The pandemic has interfered with the department store's ambitious plans to bring its "market strategy" to more cities

Macy's introduces virtual, in-person stylist appointments for the holidays

retaildive

Gifting experts will be available to help shoppers in a year where many events have gone virtual, including the department store's iconic parade

J.C. Penney looks to sell itself in bankruptcy

retaildive

Separate bidders are lining up for the department store, which hopes to sell itself quickly and exit Chapter 11 a slimmer, healthier business

What the pandemic has done to Nordstrom's revamp

retaildive

This was the year the retailer planned to expand its ecosystem concept and redefine the department store. Instead it's scrambling like everyone else

S&P Global Ratings sees slow recovery ahead for Neiman Marcus

retaildive

The pandemic and the recession threaten to undermine the department store retailer's recovery well into next year, according to a note released Thursday

Neiman Marcus adds 3 stores to closure count

retaildive

Seven full-line stores will shutter for good, along with almost all off-price locations, as the department store navigates a choppy bankruptcy process

Neiman Marcus gives up on Hudson Yards after just over a year

retaildive

The department store will also permanently close three other stores, in Florida and Washington state, according to a bankruptcy court filing Thursday

What happened to Lord & Taylor

retaildive

The country's oldest department store, a chic destination for the middle class, came through wars, depressions and pandemics. It couldn't survive neglect

Saks Fifth Avenue lays off store operations employees

retaildive

The department store confirmed the workforce cuts as part of a shift in strategy, but declined to say how many or which employees will be let go