Amanda Nicholson, professor of retail practice at Syracuse University's Martin J. Whitman School of Management is available to comment on Macy's announcement today that it is closing 100 of its stores.
"Today's announcement that Macy's is closing 100 underperforming stores next year does not come as a complete surprise - in fact the Street has reacted positively to the news elevating its stock price. After two very poor quarters it was time for action.
"While focusing efforts heavily on its omnichannel strategy for the past few years, their commitment to updating and reinventing their store portfolio has been lackluster at best - as sales have increasingly moved online.
"It would be gratifying to see the company begin to pay more attention to the in-store experience. Right now the off-price retailers are looking as good or better than many of the Macy's stores and, as such, these department store locations offer little allure for the consumer."
To speak with Professor Nicholson, contact Kerri Howell, director of communications and media relations at the Whitman School at 315-443-3671 or [email protected].
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