What does a rise in Macy’s profits of 3.8 percent in the last quarter mean to other retailers? It means this is no time to be asleep at the wheel retailers.
JC Penney and Kohl’s are being mentioned as losers in most of the financial news stories. Can’t argue with that.
If you want to grow business as a retail store, retailers need to do it at the expense of your competition. I think we all agree with that. But where is the sense of urgency and the absolute need for change in this category? I don’t see it anywhere.
The analysts assert that advancements in delivering online orders are mostly responsible for the good results for Macy’s. To my thinking, this is a thin and fleeting advantage.
As an expert in increasing market share, I can tell you straight out — there is room to take a lot of share in this category. All you need to do is get out of your own way and be willing to reinvent your importance to the shopping market. We know how to do this and yet no one from the category has called us to ask us how. Whoever calls first will win.