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Twix Voy and others interested in retail sales: Macy's close to bankruptcy!

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Nikki Stone1 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 03:57 PM
Original message
Twix Voy and others interested in retail sales: Macy's close to bankruptcy!
http://finance.yahoo.com/tech-ticker/article/336235/Ten...

4. Macy's

Does anyone even shop at department stores anymore?

Same store sales will likely keep falling at Macys right through 2009. With $2.4 billion of maturing debt over the next five years, the company is trying to cut costs, and has already reduced its dividend.

Hopefully the US consumer will bounce back soon, and actually want to shop at Macy's.

MC/EV=47%
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jpljr77 Donating Member (580 posts) Send PM | Profile | Ignore Tue Sep-22-09 04:07 PM
Response to Original message
1. You know what's so funny/sad/alarming about that?
A Citigroup analyst today upgraded Macy's stock to "Buy": http://www.marketwatch.com/story/macys-localization-foc...

Seriously.

NEW YORK (MarketWatch) -- Macy's Inc. shares surged Tuesday after Citigroup upgraded the stock to buy from hold, citing the department store operator's moves to tailor its merchandise assortment to local markets.

Analyst Deborah Weinswig also raised her profit estimates for 2009 to 2011 and doubled her price target on the stock to $30.

In late trading, Macy's shares jumped 6.3% to $18.91, leading the gainers in the S&P Retail Index.

Weinswig said the company's My Macy's initiative -- starting with 20 market regions last year and went nationwide in the first quarter -- should lead to improved sales and margin trends ahead, beginning in 2010.
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Nikki Stone1 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 05:00 PM
Response to Reply #1
19. WHAT?
Hmmm...
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Deja Q Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:08 PM
Response to Original message
2. If only they didn't buy Dayton's.
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CurtEastPoint Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:09 PM
Response to Original message
3. Macy's...they ate up the local retailers and now they're all the same
I get pissed when I go to one of their stores and see nook after nook of only high-end name brand shit like Tommy Bahama, Nautica, Polo, etc. I hate to sound like an old fudge, but I remember the days when stores had good-quality store-brand clothes. I grew up shopping at Belk's in Charlotte. We had Efird's, Ivey's and others. Here in Atlanta, we had Rich's and Davison's. Davison's got eaten by Macy's. Then Rich's sold out to Campeau then Federated then it became Macy's. It's no different from going to Target or Wal-Mart. Same crap in every store.
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:34 PM
Response to Reply #3
13. When they renamed Bon Marche--no, I'm not kidding--Bon Macy's,
I lost my lunch.

One of the last great local stores and they decimated it. So very sad.
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Jane Austin Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:18 PM
Response to Original message
4. My favorite brand of clothing
was Bechamel, a moderately priced sportswear house brand of Dillard's.

Dillard's is still around - they're building a big new store at the Domain in Austin, in fact - but they dropped that great brand.

They often had coordinated outfits with many pieces to mix and match, sometimes with dog or cat appliques, and their pants all had pockets.

First the appliques went, then the pockets, and now the whole brand is gone.

It's a shame.

I can't find anything at Dillard's I want any more - and I have a gift card that is nearing two years old.
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:21 PM
Response to Reply #4
6. Garanimals for grownups
:rofl:

There used to be a designer brand from Texas, that my aunt used to buy for her shop// they had a dainty little butterfly applique on everything..usually at the hemline or on the back, at the shoulder-seam

There is nothing unique anymore :(
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:19 PM
Response to Original message
5. They killed Robinson's May, who killed The Broadway
good riddance to all of the big-box department stores..

They all remind me of this pic
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Quantess Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:24 PM
Response to Reply #5
9. Is that an alligator eating another alligator?
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:26 PM
Response to Reply #9
10. snake that "tried" to eat an alligator
only partially "successful" :rofl:
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tammywammy Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:22 PM
Response to Original message
7. I bought some great kitchen canisters from Macy's a couple of years ago
I love them, they also have the rest of the matching dishes, which I hope to get, but I looked this past weekend and I can get them from a multitude of retailers.
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ddeclue Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:23 PM
Response to Original message
8. Oh Noes!!! How will Santa ever arrive at Christmas?
:rofl:
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Critters2 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:27 PM
Response to Original message
11. They bought Marshall Field's just as I moved back to Illinois.
I couldn't believe the whining! Then everyone swore they wouldn't shop there. They'd have been wiser to buy it, but not change the name.

Buying businesses before you're sure you'll sustain their customer base is not the wisest business model.
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Nikki Stone1 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:31 PM
Response to Original message
12. I just wonder if this will help Target
Twix Voy might know.
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:37 PM
Response to Reply #12
14. Target has much better clothes and home goods than Macy's.
If I can get a darling dress for $39 at Target, why would I go to Macy's and pay $100; and the Target dress is LESS cookie-cutter.
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Nikki Stone1 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:41 PM
Response to Reply #14
15. Really? I don't shop much at Macy's so I don't know how their clothes look.

Don't they have designer clothes there?
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 05:05 PM
Response to Reply #15
20. Designer labels don't equal designer clothes.
Calvin Klein didn't design those jeans any more than he did the Mossimo line at Target (which happen to fit me like a glove).
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Nikki Stone1 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 05:06 PM
Response to Reply #20
21. Really? I thought that they were at least related to Calvin Klein.
Really?
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shanti Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-23-09 12:57 AM
Response to Reply #14
24. i USED to shop at macy's
but haven't done so for about 8-10 years now. department stores are dead.
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Manifestor_of_Light Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:41 PM
Response to Original message
16. Macy's ate Foley's.
In Houston we had several family owned stores.

Foley Brothers, Sakowitz Brothers, Battelstein's, Neiman-Marcus (based in Dallas but had two stores in Houston).

Battelstein's got eaten by Beall's (YUCK). Lousy merchandise.

Sakowitz had different merchandise than Foley's and Neiman's. Sakowitz went out of business in the late 1980s.

Neiman's got eaten by some chain as well.

We had three GOOD quality stores in Houston - Sakowitz, Battelstein's and N-M.

And The Smart Shop.



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Libertas1776 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:43 PM
Response to Original message
17. I preferred Stern's
but they're long gone now. Friggin' Macy's gobbled up every unique individual dept store in major cities across this country and now they're on the verge of bankruptcy. GOOD RIDDANCE TO THE BASTARDS!!!
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Diane R Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 04:59 PM
Response to Original message
18. Our local Macys store shows FAUX near their dressing rooms. I'm boycotting them.
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Quantess Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-23-09 12:48 AM
Response to Reply #18
22. Be sure to tell them why you won't shop there.
I have a feeling they would rather switch the channel than lose customers.
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Nikki Stone1 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-23-09 12:50 AM
Response to Reply #22
23. I second that request!!!
:kick:
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Hekate Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-23-09 01:19 AM
Response to Reply #18
25. I asked them to stop showing FOX, and they did. Try being direct and pleasant.
I asked them if showing FOX was some sort of corporate policy and was told no. I gave my opinion that FOX is nothing but a propaganda organ and that I can't stand the hollering that goes on with their talking heads. I asked if they would they please show something else, like CNN or MSNBC or even CSPAN. It only took a few tries -- I haven't seen FOX on that tv in many months.

Hekate

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HCE SuiGeneris Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-23-09 01:27 AM
Response to Original message
26. Like the banks,
and much like government, the bigger they get, the more bureaucracy they add and the less capable they are to be proactive and innovative. Time to clean house.
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