Another rough year for department stores

Quick Summary:

The segment is undergoing a quiet shakeup in 2024, with major players pursuing varying degrees of change to their operations.

Number of stores Macy's plans to shutter over the next three years, with 50 set to close by the end of 2024.

That is a reversal of fortune for department stores, whose original purpose as anchors, envisioned some 70 years ago, was to drive traffic to the mall.

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Article Details

Author / Journalist: Daphne Howland

Category: EconomyBusiness

Markets: United StatesCanada

Topics: Year Retailer Department Major Last Footprint Years Number Plans Stores Growth

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-07 @ 08:49:00 (20 hours ago)

News Timezone: GMT +8:00

News Source URL: retaildive.com

Language: English

Article Length: 740 words

Reading Time: 5 minutes read

Sentences: 34 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Retail Dive

News ID: 22925939

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Official Website: retaildive.com

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