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Recently, Macy’s announced the combined closing of over 125 stores and the layoff of approximately 2,000 workers nationwide.
Do some research on Macy’s. Visit IBISWorld and research the U.S. Department Store Industry, then address the following:
- Describe the specific strategies that you believe Macy’s has followed in the past 3 years.
- Discuss why the strategies of this company appear to be failing (why are they now needing to close so many stores?).
- Are the strategies of the company you selected flawed? If so, why? If not, what else is the cause of the multiple store closures on the part of both companies?
