In the near future, Macy's stores could turn into discount outlets.
CEO Terry Lundgren told CNBCthat the brand is planning to put some of the "Backstage" stores in its existing retail locations this year.
The stores will sell Macy's brands at steeply discounted prices — up to 80% off. This model copies highly successful brands like TJ Maxx and Nordstrom Rack.
The outlet locations would serve as a test of whether the store's new discount outlets will take business away from the higher-priced traditional stores.
"We have to make stores more productive — all of us box stores," Lundgren told CNBC. "Customers buying online have got to find more reasons to visit."
Macy's is closing 40 stores in the beginning of this year.
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5 comments:
That's not what they are doing. The "backstage" discount line will be within the existing Macy's to see if drawing in the discount shoppers leads to them purchasing traditional items.
My opinion: Its all just cheap junk from China. Everywhere not just Macy's.
They charge too much for what you can get elsewhere. EVERY TIME you try too use a coupon or discounts they ALWAYS give you a reason why it can't be used. Haven't set foot in a Macy's for 10 years and going. BOSCOVS IS THE PLACE TO GO!!!!
Macy's is already one big yard sale!
I've not had any problem using coupons at Macy's. In fact, last time I gave a cashier my coupon, she told me she had a better one behind the counter that she could use on my purchase and saved me even more money.
The discount racks at Macys have been full of junk for years. The store is overpriced and poorly stocked in this area. The stores in the city always have better merchandise. I do not shop Macys unless I have a coupon and then it is only once in a blue moon. Too high $$$, poor quality. I will shop Annapolis mall and pay more for things that are worth it. Other than designer labels their stuff borders on WalMart merchandise.
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