The Traderszone Network

Published in TZ Latest News 26 February, 2015 by The TZ Newswire Staff

For Macy’s, going downmarket looks like the way ahead

For the past six years, Macy’s has focused more on cutting costs and streamlining its operations rather than expanding as a way to fuel earnings. Macy’s said this week it would spend $1.2 billion to expand internationally and set up off-price stores, which sell items such as seconds, returned goods and off-season merchandise at prices that squeezed middle-class customers have found increasingly attractive since the 2008 recession. Since so many peoples’ salaries are off-price they also need to shop that way,” said Robert Brusca, chief economist at consulting firm Fact and Opinion Economics.

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