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.

Who's the 'department store' now?

retaildive

Big boxes, specialty stores and discounters have stolen share from department stores for years. Now some, most notably Target, are stealing their merchandising playbook too

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Report: Selfridges Seeks $5.5B Sale as UK Department Stores Continue to Struggle

Retail Touch

Selfridges ’ owners have launched a formal auction to sell the department store chain, which has been valued as high as £4 billion ( $5.5 A successful deal could see two of the UK’s most historic department stores coming together under a single owner.

Department stores' decade of decline

retaildive

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

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

Anchors, away: How department stores are ditching malls

retaildive

A once mutually beneficial relationship is falling apart

Americans prefer buying their shoes in department stores

Retail Wire

Americans continue to turn to department stores like Macy’s and Nordstrom when they need to buy non-athletic shoes.

Department stores struggle to make it through the pandemic

Retail Wire

Nearly 200 department stores have been shuttered over the past year and another 800 are forecast for the same fate by the end of 2025, according to Green Street Advisors.

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

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

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.

Amazon reportedly in talks with Simon on vacated department store spaces

retaildive

The e-commerce giant is eyeing mall properties for fulfillment centers, according to a Wall Street Journal report

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.

Department store chain Belk thrives during the pandemic aided by ship-from-store capabilities supported by Logistyx Technologies

Retail Technology Review

US department store Belk thrived as e-commerce orders surged during the pandemic by having ship-from-store order fulfilment facilities already in place across its 291 store locations with the help of parcel shipping software from Logistyx Technologies.

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

Department stores focusing on what will sell for Christmas

RetailWire

The department store chain is counting on gifting, including the kind whereby customers buy things for themselves, to drive its business in what has been an extremely difficult year Fragrance and jewelry are among the categories that Marc Metrick, president and CEO of Saks, says are selling.

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

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.

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.

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.

Retail, Wholesale and Department Store Union makes inroads in right to work states

RetailWire

The Retail, Wholesale and Department Store Union, which has about 100,000 members, including workers at Bloomingdale’s and Macy’s, is attempting to organize an Amazon.com warehouse in Alabama. If successful, it would build on the success the union has had in recent years organizing workers from so-called right to work states primarily in the Southeast

Department stores’ fall followed the decline of America’s middle class

RetailWire

Moderate-income Americans shopped at department stores for decades, but that changed as income disparity hollowed out the nation’s middle class. The result has been record numbers of department store closures in recent years with the number of stores falling from 8,600 in 2011 to 6,000 today. The number of people employed by department stores has fallen to fewer than 700,000 today, down from more than 1.2

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

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.

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.

Amazon Fulfillment Center Workers in Alabama Reject Unionization

Retail Touch

rejected the opportunity to join the Retail, Wholesale and Department Store ( RWDSU ) union. Fulfillment & Last Mile News Briefs Supply Chain & Sourcing Workforce & Scheduling Amazon Incumetrics retail wholesale and department store union

Boscov’s Enhances Website Experience with Unified Commerce Solution

Retail Touch

Family-owned department store chain Boscov’s is upgrading its ecommerce ecosystem through an expanded partnership with unified commerce platform Kibo. Currently marking its 107th anniversary, Boscov’s operates 48 department stores in the Northeast and Mid-Atlantic.

Hudson’s Bay Goes After Millennials/Gen Z via Forever 21 Partnership

Retail Touch

Hudson’s Bay is betting that attracting younger Gen Z and millennial shoppers will be essential for staying relevant and reinventing the department store category.

Macy’s Returns to Profitability in Q4 Despite Same-Store Sales Dip; Digital Grows 21%

Retail Touch

Macy’s Q4 and full-year 2020 results show signs of a turnaround for the department store, hard hit, like many of its counterparts, by the COVID-19 pandemic.

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.

How Amazon’s ‘Trench Warfare’ Against Unions Could Damage its Consumer Confidence

Retail Touch

Depending on the outcome from a month of mail-in voting that ended March 30, approximately 5,800 workers at the facility, BHM1, could gain the right to join the Retail, Wholesale and Department Store (RWDSU) union. An Amazon fulfillment center in Bessemer, Ala.

Malls may not even need anchors. Here's why.

Retail Dive

Department stores used to drive traffic, but now they're just a drag

Barneys is Back, via Saks Fifth Avenue, in New York and Connecticut

Retail Touch

Iconic luxury retailer Barneys New York has been brought back to life inside Saks Fifth Avenue ’s New York City flagship via a new department experience called Barneys at Saks. A standalone Barneys at Saks store will open on Jan. The In-Store Department Designed for Discovery.

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.