My personal opinion is the items in Macy's are crap!

 

I know this is old, but it's so nice to see I'm not the only one that thinks this.

 

A LOT of people here miss Kaufmann's. And look at the revolt of the loss of Field's in Chicago.

 

Well I do feel that way, but in all honesty, I've never shopped Macy's and definitely do not fit the mold of their "target" customer.

Macy's looks to restore local feel

Slumping sales lead to new tactic

http://news.cincinnati.com/apps/pbcs.dll/article?AID=/20080713/BIZ/807130347/1076/NEWS

This a publicity rehash of news Macy's shared a couple months ago.  How many times do I need to hear about them leaving swimsuits out longer in Phoenix vs. Minneapolis as an example of the changes they are making. 

 

 

This a publicity rehash of news Macy's shared a couple months ago.  How many times do I need to hear about them leaving swimsuits out longer in Phoenix vs. Minneapolis as an example of the changes they are making. 

 

Because the execution of this has been horrible!  It will continue to be an issue as long as the economy is bad.  Now those in outside of Cleveland (as well as Chicago and Boston) who were not in a Macy's market, know exactly what we experienced when that tacky hillbilly chain acquired Higbee's and destroyed it.

 

Ironically, as I type this there is a Macy's add on my screen. 

Leaving aside all considerations about whether or not Macy’s sells crap (and does or does not do a crappy job of marketing that crap) is not a question I am qualified to address. Being the furthest thing from a clothes horse, I find that most people just want basic clothes at affordable prices, and the consensus seems to be that Macy’s no longer delivers (I think my last purchase at Macy’s was a Salton Rice Cooker on sale for $20 three years ago). And I suspect that those who are really serious about clothing—profligate label whores with six-figure wardrobe budgets, such as Barney’s customers—never shopped there anyway (My one and only foray into Barney’s was the weekend its flagship on Madison Avenue opened many years ago, when the public—i.e. riff-raff—was invited to tour the store. I suspect that of the thousands who came through their hallowed halls during that period a few “normal” people might have sprung for one of their $600 shirts—maybe even having been transformed into a lifelong Barney’s customer!). Having said all of this (whew), I still regularly visit Macy’s Herald Square, because it’s still one of the few places in America where you can get the thrill of a big-city department store experience (albeit in perhaps a theme-park form). This might sound hokey, but I still get a sense of excitement walking through the Broadway entrance and onto the multi-tiered main floor with its soaring gilt columns, pulsating with people from all over the world, heading to the upper floors with their ancient, rattling wooden escalators (I believe the only place in the country where these are still in service—so far though, I’ve never seen Maureen O’Hara or the young Natalie Wood among the throng). Granted, much of the "mystique" of Macy’s comes directly from that famous movie, as well as the parade (a brilliant PR spectacle if there ever was one); but if you’re planning on visiting New York, make sure to at least stroll through this (once) great store, or perhaps sit in the Starbucks on the mezzanine level and enjoy the view—it’s still an only in New York experience.

EVD.  You  hit a sore spot.

 

Walking thru Macy's or Lord & Taylor hurts because I think, "Why can't I walk into Higbee's today and experience that "feeling"?:  Sigh... :oops: :cry:

 

And hey...take it easy on the Barney's shoppers.  :wink:

EVD.  You  hit a sore spot.

 

Walking thru Macy's or Lord & Taylor hurts because I think, "Why can't I walk into Higbee's today and experience that "feeling"?:  Sigh... :oops: :cry:

 

And hey...take it easy on the Barney's shoppers.  :wink:

 

aha! so you're the one buying those $600 shirts!! That's okay, nice work if you can get it. But you're right about Higbee's, etc. I don't think there is one big-city downtown store left in Ohio (I loved hanging out in Lazarus when I lived Columbus--that closed a few years ago. Sad)

I don't think the style of clothes Macy's is selling is appreciably different than that of other anchor stores (I don't think they can or should be compared to Barney's, but fairly, should and are compared to Dillard's, JCP, Sears), but the quality seems to have gone down.  JMO.

I don't think the style of clothes Macy's is selling is appreciably different than that of other anchor stores (I don't think they can or should be compared to Barney's, but fairly, should and are compared to Dillard's, JCP, Sears), but the quality seems to have gone down.  JMO.

 

I think it depends on the market.  The 34 Street Macy's is OK.  The Macy's in the outer Boro's , Jersey or Long Island are crap.  The State Street Macy's seems OK as well. My nephew and niece thought the Macy's in the WaterTower was crap.  the Macy's in Atlanta and Florida are crappy.

 

Macy's has done to Regional Brands what Dillard's did to Higbee's.  Their stores in Chicago, and Philadelphia are hurting.  Higbee's stores at Tower City, Severance (although they tried to make separate mens and women's stores) and Beachwood had more inventory, higher price point inventory along with luxury and niche items. Then Dillard's downsized the stores and now all of them are suspect and marginal at best.

Dillard's destroyed McAlpin's in the Cincy area as well. It was the dominant department store. Most of the crowd left and ran Laz's up through the transition to a national Macy's brand. Things were going well in and around when they shifted toward a national Macy's brand, then the May purchase and the recent addiction to crappy 'famous' folks and the quality and selection really dropped.

 

Part of it might be that they make their money on the house brands so there is no reason to push the other brands so why not invest in crappy famous people brands instead.

Macy’s valuation a topsy-turvy world

http://cincinnati.bizjournals.com/cincinnati/stories/2008/12/01/story1.html

 

These days, the merchandise sitting in Macy’s stores is worth more than all of its 421 million shares of stock combined. That situation, as much as any, helps explain why retailers are discounting their goods by so much, and so soon.

 

As of the end of the third quarter, the value of Macy’s merchandise inventory totaled $6.9 billion, according to its financial report. Its market capitalization, meanwhile, came to $2.9 billion as of Nov. 25. Macy’s priced its property and equipment, meanwhile, at $10.6 billion.

 

Essentially, that means the value of Macy’s assets are greater than that of the company. Or are they, analysts wonder?

 

...

I was just at the Marshall Field's downtown flagship on Friday. There weren't all the "Macy's = Potterville" and "Fu@k Macy's" signs and T-shirts that I saw two years ago, but people affiliated with www.fieldsfanschicago.org were passing out button that say "I want my Marshall Fields."

Just so everyone knows, Macy's flagship store at Herald Square (as I think other select branches around the country) will be open around the clock beginning Saturday at 6 a.m. until Christmas, just in case you were awake at 3:00 a.m. and needed something to do :sleep:

Just so everyone knows, Macy's flagship store at Herald Square (as I think other select branches around the country) will be open around the clock beginning Saturday at 6 a.m. until Christmas, just in case you were awake at 3:00 a.m. and needed something to do :sleep:

 

they've done this for the past three years.  Toys-r-us (Times Square) is also doing this.  Why can't Barney's stay open 24 hours.  :|

Just so everyone knows, Macy's flagship store at Herald Square (as I think other select branches around the country) will be open around the clock beginning Saturday at 6 a.m. until Christmas, just in case you were awake at 3:00 a.m. and needed something to do :sleep:

 

they've done this for the past three years.  Toys-r-us (Times Square) is also doing this.  Why can't Barney's stay open 24 hours.  :|

 

actually I believe last year was the first year the Herald Square store was open 24 hours. As per Barney's, their customers are 1) ladies and gentlemen of leisure who aren't dictated by time constraints and can therefore go there anytime during the store's regular hours, or 2) sooooo busy making money (or stealing it) and having lunch at the Four Seasons (at least they were) that they just send their wardrobe consultants to shop for them, eliminating the need to stay open that late.

Just so everyone knows, Macy's flagship store at Herald Square (as I think other select branches around the country) will be open around the clock beginning Saturday at 6 a.m. until Christmas, just in case you were awake at 3:00 a.m. and needed something to do :sleep:

 

they've done this for the past three years.  Toys-r-us (Times Square) is also doing this.  Why can't Barney's stay open 24 hours.  :|

 

actually I believe last year was the first year the Herald Square store was open 24 hours. As per Barney's, their customers are 1) ladies and gentlemen of leisure who aren't dictated by time constraints and can therefore go there anytime during the store's regular hours, or 2) sooooo busy making money (or stealing it) and having lunch at the Four Seasons (at least they were) that they just send their wardrobe consultants to shop for them, eliminating the need to stay open that late.

 

LMAO!  That was just hateful.  LOL

Macy’s cutting 7,000 jobs in restructuring

http://cincinnati.bizjournals.com/cincinnati/stories/2009/02/02/daily11.html

 

Macy’s Inc. plans to cut 7,000 jobs in a corporatewide restructuring that will centralize its operations and reduce expenses in one of the most difficult economic environments the retailer has faced.

 

The cuts follow by one year a consolidation where Macy’s folded three of its seven divisional offices into four. That move launched officially the “My Macy’s” merchandising program, which breaks each division into a number of buying districts, each tailored to align stores with specific market tastes.

 

...

This essentially means the end of May Company and the old Federated - which actually meant something. This is Macy's run like Penny's et al. It seems like each market writ large will have a small hq and then the big corporate folks. I'm surprised they haven't committed to closing more stores as a part of this. I wish I could shed a tear for Atlanta, but those were mostly Cincy jobs that got moved when Rich's and Lazarus were merged. San Fran is getting hit hard since Macy's West was pretty independent and May had a lot of stuff out there.

Macy's debt rating downgraded

The Associated Press • April 1, 2009

http://news.cincinnati.com/article/20090401/BIZ01/304010101/1076/BIZ

 

NEW YORK — Moody's investors Services downgraded Macy's Inc.'s debt on Wednesday into junk territory, saying the department store chain's credit metrics have deteriorated along with its operating performance.

 

Senior credit officer Maggie Taylor lowered her rating on the company's senior unsecured notes to Ba2, from Baa3.

 

The new rating is two notches below junk status.

 

...

Macy’s seeks tax credits for HQ growth

Business Courier of Cincinnati - by Lisa Biank Fasig Staff Reporter

 

 

Macy’s Inc. is seeking Ohio tax credits valued at more than $1.3 million in return for it adding 125 jobs at its corporate headquarters in downtown Cincinnati, following the consolidation of its four regional divisions into two.

 

Cincinnati City Council on April 8 will consider the emergency ordinance authorizing a job creation tax credit of 55 percent for six years, valued at almost $516,000. The state on April 6 approved the six-year tax credit, which is valued at $822,000 on the state level.

 

...

 

http://cincinnati.bizjournals.com/cincinnati/stories/2009/04/06/daily21.html

Report: Macy's closing a flagship store

 

 

A Minneapolis magazine is reporting that Cincinnati-based retailer Macy's Inc. will close one of its flagship stores.

 

Sources tell TwinCities Business that Macy's (NYSE: M) has informed the city of Minneapolis and downtown stakeholders that it intends to close its flagship department store in Nicollet Mall in 2017.

 

More below:

http://www.bizjournals.com/cincinnati/news/2016/12/02/reports-macys-closing-a-flagship-store.html

St. Paul, St. Louis, Pittsburgh, Portland, Minneapolis...how does Downtown Cincinnati survive?

St. Paul, St. Louis, Pittsburgh, Portland, Minneapolis...how does Downtown Cincinnati survive?

 

From my understanding since they don't own the real estate there's no incentive for a deal like this. I admit I don't know what a "ground-lease" is or if that applies to downtown Cincinnati though.

macys cutting 10k jobs and closing 68 stores (opening a few too):

 

http://phx.corporate-ir.net/phoenix.zhtml?c=84477&p=irol-newsArticle&ID=2234057

macys cutting 10k jobs and closing 68 stores (opening a few too):

 

http://phx.corporate-ir.net/phoenix.zhtml?c=84477&p=irol-newsArticle&ID=2234057

 

Closings in Ohio:

 

Two in the Columbus area:

 

Eastland Mall

Mall at Tuttle Crossing

 

Also:

 

Sandusky Mall

Fort Stuben Mall

St. Paul, St. Louis, Pittsburgh, Portland, Minneapolis...how does Downtown Cincinnati survive?

 

From my understanding since they don't own the real estate there's no incentive for a deal like this. I admit I don't know what a "ground-lease" is or if that applies to downtown Cincinnati though.

 

A ground lease allows a developer to develop the land without owning the land. They own the building and air rights, but not the land below it. The former Chiquita Center was built with a ground lease where the Joseph family gets rent on the land every year but they have no control over the building. The building may be sold to a new owner who controls it for the term of the lease. Often Ground Leases run for long periods even up to 100 years. It is common in urban cores to spur development and with public private partnerships. The URS building is another example of this.

 

With a gound lease, a property such as the Chiquita Center and be razed and rebuilt as something else as long as the ground lease is in effect since the land owner has no control over the building.

macys cutting 10k jobs and closing 68 stores (opening a few too):

 

http://phx.corporate-ir.net/phoenix.zhtml?c=84477&p=irol-newsArticle&ID=2234057

 

Closings in Ohio:

 

Two in the Columbus area:

 

Eastland Mall

Mall at Tuttle Crossing

 

Also:

 

Sandusky Mall

Fort Stuben Mall

 

There are two Macy's at Tuttle. The Home/Men's one is closing and moving its products over to the main one.

I've heard from someone who works at Macy's corporate that our downtown location is on the chopping block. He is unsure though if they will actually go through with it and thinks they are stalling to see if the population changes in downtown Cincinnati will affect performance.

I wish they would carry some better stuff downtown.  I would shop there a lot more often if I didn't have to make the trip up to Kenwood to buy things I like.

I wish they would carry some better stuff downtown.  I would shop there a lot more often if I didn't have to make the trip up to Kenwood to buy things I like.

 

When I didn't have a car the downtown Macy's was my only source of clothing for several years.  Then I got a car and went to Kenwood and it was like a visit to America by a Russian circa 1980. 

It was so sad when the large downtown department stores (which I guess most people on this forum are too young to have any memory) bit the dust, now it seems to be happening to the mall stores too. I guess this is all attributable to online shopping, no? I think the main reason Macy's flagship survives is from the millions of tourists who flock there (and Miracle on 34th St and the Thanksgiving parade), but I wonder how well it's really doing, especially after putting $400M (!) into redoing over the past few years.

Not online shopping really. America was over-retailed. People also just don't buy as much stuff as they used to in general. Identity-based commerce such as Homage, boutique retailers, nerd stores, Hot Topic is what's hot now, not logo wear. Also clothing has become so casual that department store looks aren't required to look "decent" anymore. In the case of Sears, they got wiped out by Lowe's, Home Depot and Menards.

 

People don't really think about all the Old Navys and Kohls' that have taken over the clothing space. And, starting in the 2000s the thrift stores lost their stigma as being only for the poor and have taken command of many a consumer dollar.

I make it a point to support the downtown Macy's so they keep the store open.

I've heard from someone who works at Macy's corporate that our downtown location is on the chopping block.

 

I worked for Macy's until march of this year. ALL of the Downtown stores are in danger, because the real estate is more valuable than the store itself. At this point, who's left?

 

Seattle

Sacramento

San Francisco

San Diego

Chicago- Old Marshall Fields

Chicago- Water Tower Place

Philadelphia

Manhattan- Herald Square

Brooklyn Downtown

Boston

Providence

Miami

Cincinnati

Salem, OR

Walla Walla, WA (yes, this is real)

There is also a downtown store in Salt Lake City.

Ah! Forgot about that one. That has the mall with the retracting roof.

 

Downtown Los Angeles also, apparently even recently updated:

 

http://brighamyen.com/2016/02/21/tour-macys-dramatic-makeover-into-flagship-store-in-downtown-la/

There is one in Santa Monica's downtown. 

Also Charleston, WV, come to think of it!

 

Just thinking that Macy's 10 years ago had 9 or 10 locations in the Cle-Akron area. Now down to 4. With the rise of online shopping I wonder if these retailers will realize they only need one flagship store in some of these cities and maybe save the downtown locations where they currently exist. Then maybe open new ones in new markets as the only location in a metropolitan area, much like how it was before the 50s.

Online shopping is still barely bigger than catalogs and ordering things out of magazines/papers were in the past. It's mostly newer stores such as Target and Wal-Mart wiping out the old ones.

Honestly, I go to TJMaxx for most of the items I can purchase at Macy's ... I'd love to support a Cincinnati company, but when I see the same coat that I can purchase at TJMaxx for $30, that's selling at Macy's for $100 bucks - it's hard to justify.

 

People don't really think about all the Old Navys and Kohls' that have taken over the clothing space. And, starting in the 2000s the thrift stores lost their stigma as being only for the poor and have taken command of many a consumer dollar.

 

 

 

this is why i keep pimping for someone in ne ohio to bring in ragstock. they are a cool, small upper midwest chain that combines both of those things, old navy/target type clothes + revamped thrift store clothes! in fact, i am wearing one of their flannel shirts that i stocked up on in duluth, mn at work today.

 

People don't really think about all the Old Navys and Kohls' that have taken over the clothing space. And, starting in the 2000s the thrift stores lost their stigma as being only for the poor and have taken command of many a consumer dollar.

 

 

 

this is why i keep pimping for someone in ne ohio to bring in ragstock. they are a cool, small upper midwest chain that combines both of those things, old navy/target type clothes + revamped thrift store clothes! in fact, i am wearing one of their flannel shirts that i stocked up on in duluth, mn at work today.

 

Hell, I own 2 suits that I bought from Goodwill in mint condition and have been tailored to my exact size for $50. One's a Jos. A. Bank one ... easily $600+ at retail!

Report: Macy's is looking for a buyer

 

Cincinnati-based retail giant Macy's Inc. could be shopping around for a buyer, according to a published report.

 

The New York Post reports that real estate investors have reached out to private equity firms as potential suitors for a Macy's (NYSE: M) sale, according to an anonymous partner at a private equity firm and other industry sources cited by the Post.

 

Bloomberg's Jeffrey Langbaum suggests that Brookefield Asset Management – with which Macy's already has an agreement to redevelop up to 50 of its properties – Simon Property and GGP could be possible buyers.

 

More below:

http://www.bizjournals.com/cincinnati/news/2017/02/02/report-macys-is-looking-for-a-buyer.html

"Activist investors" are raiders and looters.

They turn everything to cash.

e.g. Sears

And the people who just bought Bob Evans' restaurants. Basically they find companies that shouldn't be publicly traded any more but no one is willing to pay market cap for. A lot of them could be fine if one guy or a family owned them but Wall Street needs more.

^Which is why White Castle will be with us for a long, long time.  Still family owned company and the family owns all 400~ restaurants.  They only expand with cash.  They own the land the restaurants sit on.  Wall St. hates that.