Do you expect department stores, as a whole, will perform better this holiday season than they did in 2016?
Interactive Edge’s CEO, Zel Bianco comments:
As we all know, New York City is not indicative of the rest of the country but I walked into Macy’s and could not wait to get out due to the crowds. I was in a mall in the Washington, D.C. area and it was also very crowded and was anchored by not one but two Macy’s stores. There was an article in The New York Times last weekend that stated Macy’s real estate was worth way more than Macy’s, especially stores in urban areas where they own very desirable properties. You could have fooled me with the crowds. Lord & Taylor on the other hand was a pleasure to shop because it was not crowded at all. So my guess is that if Macy’s can get though the credit card issues, and continue to close some stores as there are just too many, they may be able to make it.As Neil indicates, it may be too little too late for department stores.