Macy’s Closes Dozens of Stores and Lays Off Thousands

The press release by Macy’s is unreadable at best. An embarrassing waterfall of double-speak and euphemisms that passes for thought in the current corporate climate.

From Breitbart:

“In light of our disappointing 2015 sales and earnings performance, we are making adjustments to become more efficient and productive in our operations. Moreover, we believe we can operate more effectively with an organization that is flatter and more agile so we can pursue growth and regain market share in our core Macy’s and Bloomingdale’s omnichannel businesses faster and with more intensity. We will continue to invest in strategic initiatives that anticipate emerging customer needs and create shareholder value,” said Terry J. Lundgren, chairman and chief executive officer of Macy’s, Inc. “The cost efficiencies represent more than two-thirds of our goal of annual SG&A expense reduction of $500 million, net of growth initiatives, from previously planned levels by 2018. In some cases, there will be short-term pain as we tighten our belt and realign our resources. But our eye is on a long-term vision of Macy’s, Inc. as a dynamic retailer that serves existing customers and acquires new ones through innovative approaches to the marketplace.”

Does that sound like an organization listening to it’s customer’s needs? Their customers wanted Macy’s to defend America and Americanism.

Macy’s said no.

Economics is unavoidable but alienating your customers is not.

They can cite warmer winters, foreign supplier issues and the move to online shopping but for many the activism of Macy’s has tarnished the experience of the store.

Source: Breitbart




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