Some may constantly argue Macy’s clothing industry are great in their craft of producing their different styles of clothing. But professionalism or in hiring the most appropriate prospects for the job. But, in recent years Macy’s has drastically failed in professionalism or in hiring the prospects that are equipped for the job. Macy’s poorly lacks in clothing sales which people aren’t buying their products, customers and employee demands and shortfalls in receiving shipments of products on time which is hurting the company. Macy’s has been lacking in professionalism during their recent years of an active company. The author of this source is Suzanne Kapner that writes about an industry for The Wall Street Journal. Kapner coverages area includes …show more content…
departments Macy’s, J.C Penney, Neiman Marcus and Polo. Furthermore, Shelly Banjo who also was partner in crime with the article of The Wall Street Journal whom written about corporate news with a focus on retailing industry at The Wall Street Journal in New York City. The main proclaim is that Macy’s is losing tons of consumers due to their products and prices. The prices and products haven’t really been negotiated throughout the process of the shopping industry. Macy is losing consumers due to the lack of the professionalism inside the company (Kapner). There has been controversial about Macy’s lacking of professionalism and that they should do a better job on hiring employees.
The prospects that they’ve been selecting over the years has not done a great job at assignments for Macy. Macy’s has re-evaluated and now searching for employees to better their future at all Macy’s stores. Consumers believe that Macy’s had some major professionalism habits within the stores around the world. The consumers of that buy from this company has decided not to shop there if service of Macy is not fixed. Macy’s has change dramatically and its hottest crisis is the lack of professionalism inside there industry. Macy’s professionalism lacks in appearance and reliability due to the fact there employees can’t keep the company professional …show more content…
(Kapner). Macy’s is dropping sales due to the release of Donald Trump who was an ex contributor to the company. The main claim towards this article is that Macy’s sales are dropping which is a negative aspect of their company. Not just that but, consumers rather not spend their money with Macy’s anymore. They had bad shipments to receive products on time especially the winter’s editions. The wholesaler experienced an unexpected decline in foot traffic to its stores. It was associated with the decline to unseasonably warm weather that kept shoppers from buying cold weather goods like sweaters and coats and also to a continued fall off in tourists because of the strong dollar. The deceleration left Macy’s with excess index that it will have to reimburse in the fourth quarter. I believe that Macy’s sales has declined about five percent to five billion in the three months to below the six billion that Wall Street investigators had probably expected.
Precluding freshly opened or closed stores, sales about three percent. Macy’s sales haven’t grown since the fourth quarter of last year. During the time that the first department-store chain order to report earnings, Macy’s acts as a guide for the industry and its troubles are contemplative of challenges retailers are facing. Macy’s has been struggling as it’s commonly offerings of vestment and attachments such as accessories have fallen out of assistance with consumers (Kapner, Pg.
2). As a result of the continued share repurchases, the financial position of Macy's continues to reveal a modest increase in net debt. The company ended the quarter with $1.5 billion in cash and $7.3 billion in debt, resulting in a net debt load of $5.8 billion. While this is a sizable amount, the company has $7.7 billion in property, plant and equipment on its balance sheet. These assets largely represent huge real estate assets while the inventory position of the company is equivalent to the net debt load as well. While the company cites the West Coast port issue as a reason for slow sales, inventories did increase by nearly 3% to $6.05 billion. While this sounds contradictory, it might very well be the case that shipments came into inventory late in the quarter and the company has not been able to sell these inventories quickly. The continued share repurchases have reduced the share count to 338 million shares. At $64 per share, equity is valued at $21.6 billion. Including the $5.8 billion net debt load, the enterprise valuation comes in at $27.4 billion. Based on the outlook, sales are seen at $28-$29 billion, which implies a 1 times sales ratio, as shares trade at 13-14 times earnings (Kapner). The author of this source is Mark Egan. Mark Egan is a staff writer on CNNMoney’s market and investing team. He covers Wall Street, alternative investing, M&A moves, IPOs, and geopolitics and cyber security. Egan has been with CNNMoney since April 2014 and previously was a senior reporters at Fox Business and staff writer at the Trenton Times. Egan lived the state of New Jersey and has graduated from the college of New Jersey in the year of 2007 (Egan). Nevertheless, Macy’s has lost half of their consumers who actually love the store and its product but not till now. Macy’s has blamed everything from the nasty winter weather, to tourists cutting back on spending, to a West Coast port slowdown for its 0.1% comparable sales decline in the first trimester of the fiscal year. Macy’s has to blame someone for the reason of losing consumers in this period time. Macy's portion disorientated about fourteen percent of their worth on in last week crisis, which was the sizable one-day loss since the economic crisis in 2008. Macy has lost sales drastically since the loss of Donald Trump and definitely paying their debt since his last time with Macy’s (Egan). In addition to Macy’s industry which has drastically changed over a period of time. Macy’s has failed to cooperate with employee and consumers demands. In the article the main argument is Macy’s is going underneath the ground in sales but most importantly is losing a revenue which has decreased about 1.3% and has drastically affected Macy. As of 2015 Macy’s has lacked in consumers and employee demands which has put them in the hot seat (Egan). The author of this article was Samantha Sharf whom graduated from University of Pennsylvania and majored in English. Sharf calculates stockings and writes about stock markets, art markets and their money. Sharf also explores in Journalism which has been very successful inside that field of work (Sharf). Consumers that purchase products within the Macy’s isles are concerned about the improvement skills. They believe Macy’s should always have room for improvement skills such as better products referring to better quality updating. Employees on the other hand has been requesting for higher wages or a better position on the team. The management didn’t hire enough help during the holiday season resulting in call offs increasing demands on other employees (Sharf). Macy’s failed in another area which issue was the failure of management not informing the employees in the junior's section to keep the area neat and clean. Employees are raged and keen to know exactly why Macy’s are so late and limited with information of what goes on inside the company. The author of this source is Mark Egan. Mark Egan is a staff writer on CNNMoney’s market and investing team. He covers Wall Street, alternative investing, M&A moves, IPOs, and geopolitics and cyber security. Egan has been with CNNMoney since April 2014 and previously was a senior reporters at Fox Business and staff writer at the Trenton Times. Egan lived the state of New Jersey and has graduated from the college of New Jersey in the year of 2007 (Egan). The management should permit the employees to work hours so they can spend time with their families during the holiday season. Management should recognize that more help needs to be hired during this time. Macy’s management advertises help wanted; however, they still need to hire more than needed to fill spots for employees who call off. In recent years Macy’s changed in receiving shipments on time is now depleting very slowly. In late year of 2015 Macy’s have received shipment late which affected their winter seasoning opening and has left customers devastated. Consumer who had high interest in Macy’s now has tossed Macy’s towards that dirt and somewhat unhappy about their performance of shipments on time. Macy’s has been several issues regarding packaging problems and shipments of products to produce sales which has change the company’s image over a period of time. As a result of the continued share buyback, the financial spot of Macy's continues to reveal a modest growth in net debt. The companionship ended the quarter with $1.fin one thousand million in hard cash and 1000000000000 in debt, resulting in a net debt freight of five million. While this is a sizable amount, the company has seven billion in property, plant and equipment on its residuum sheet. These assets largely represent huge real land assets while the inventory position of the company is equivalent to the net debt load as well. While the company cite the West Coast port issue as a reason for slow sales event, inventories did increase by nearly 3% to $6.05 billion. While this sounds contradictory, it might very well be the subject that loading came into inventory late in the quarter and the company has not been able to sell these inventories quickly. The continued share buyback have reduced the share count to 338 million shares. At $64 per share, equity is valued at six billion. Including the five point two billion net debt load, the enterprise rating comes in at $27.4 billion. Based on the outlook, sales are seen at twenty-nine billion, which implies a 1 times sales proportion, as shares trade at 13-14 times earnings.
Lowe’s tries to foster collaboration and strength in a variety of methods; many are through leadership training tracks and supporting employees and their families. During times economic uncertainty, it is important that individuals know that they an organization that cares and supports them. In a comprehensive report released by Lowes, the company detailed improvements Lowe’s achieved in important focus areas, including the health, safety and engagement of employees, the company’s advancement towards its 2020 goals and its partnership with suppliers to maintain the highest ethical standards and improve the products it sells (Lowe’s Companies, 2015a). According to Lowe’s Companies (2015a), “For the first time in Lowe’s annual Employee Opinion Survey, all of its U.S. stores, distribution centers and customer support centers all reached the company’s benchmark engagement goal of 65 percent, indicating a highly engaged and satisfied staff” (para 4).. “Career Bliss recognized Lowe’s as one of the 10 happiest retailers to work for in 2014” (Lowe’s Companies, 2015, para 5). To keep an organization running efficiently and effectively, you need a good customer base; you cannot achieve this without helpful, courteous and willing employees. Lowe’s understand that to keep up in the industry, they need to ensure they employees are taken care of
Macy’s intended to deliver enhanced shopping experiences to its consumers through dynamic department stores and online sites. In this regard, the company developed a North Star strategy that allows it to improve its sales growth and to develop its existing core activities. The company’s consumer research monitors, analyze and anticipate their needs and wants based on the changing market trends. This allows it to strengthen its customer base and also helps it in identifying new markets and customers. Macy’s also identifies different styles and designs based on various occasions and events that allow it to capture the changing preferences of its customers. The company also celebrates various iconic events to interact with its customers which
This nationally recognized mass merchandiser that stood as Kohl’s other leading adversary in the market has everyday low prices that were able to compete with Kohl’s promotional events. Wal-Mart also outdid their competition when it came to number of store locations around the country. The weaknesses of this reputable company come to light when shoppers are looking to buy clothes and are not presented with nearly the selection that the department store can offer. Also, their service is not considered to be as helpful as the department stores that can input more expertise when trying on
JCPenney is a chain of American mid-range department stores that is based out of Texas that started over 100 years ago. JCPenny has been successful for most of its time up until the last three to four years. The company is trying relentlessly to overcome the lingering effects of the makeover that former CEO, Ron Johnson, had implemented in order for the company to take a new direction in hopes of increasing sales. The new CEO, Myron Ullman, has taken a close look into the markets demographic segmentation along with the income segmentation in order to attempt to return the retailer back to its old self, which is to appeal to middle-market customers. A couple issues of major concern for the company are the dissolving of Johnson’s Boutiques, the price of their products, and overall revenue.
After co-branding the Macy’s name with local Federated stores in 2003, the Macy’s division became the central focus for revamping. Federated descri...
Nordstrom is one of the top retailers in the United States. With a solid brand image and a sound financial situation, Nordstrom is relentless in their expansion in the US, and are beginning to expand into international markets. Nordstrom takes pleasure in providing state of the art client support and having experienced sales people. In order to hold their position as the most successful high-end retailer in the United States, Nordstrom must continue to figure out ways to improve their brand image and customer satisfaction. Nordstrom’s current business working strategy is successful but I believe there are a few ideal solutions that the organization could apply to further enhance the organization. Due to the aggressive characteristics of the fashion retail store market, it is crucial that Nordstrom preserves an aggressive advantage providing the highest level of customer support as possible.
Over the years, the American department store has developed and evolved as not only a commercial business but also a cultural institution. While it has weathered many storms and changes since its inception and throughout history, its most predominant enemy has been a change in the lifestyle of the American people (Whitaker, 2013). As the customer’s needs and wants have shifted, department stores have struggled to keep up with demands. It has been argued that the decline of the department store has been ongoing for the last 50 years (Whitaker, 2013). This dissertation aims to understand how the department store has historically played a role in consumer culture and spending, and additionally, how this has evolved and changed in today’s retail market. Although department stores may not be able to take all the credit for inventing modern shopping, they certainly made its conventions and conveniences commonplace. They set a new standard for the way the consumer should expect to be treated, the type of services that should be provided, and the convenience that should attend the process of acquiring the necessities and niceties of life all in one place. They made shopping into a leisure pastime. This environment meant shopping was a means of freedom to look around, pick up objects with no obligations to buy. As one historian remarked, department stores: “encouraged a perception of the building as a public place, where consumption itself was almost incidental to the delights of a sheltered promenade in a densely crowded, middle-class urban space” (Whitaker, 2006). Although this perception and view of the department store has changed over the years, this paper aims to follow the trail of how and why that happened.
Paco Underhill has created a way for stores to draw more customers in and spend more money by getting in the mind of the customers. I found some of Underhill’s theories to be true. Underhill’s theories have helped provide research of the actions of consumers inside of American Eagle, Meijer and Hollister, these theories include, the need for shoppers to acclimate to their surroundings, the way customers turn into stores, and by placing most used products in the farthest places away from the
In fact, it is the culture of motivated and empowered entrepreneurial employees that makes Nordstrom’s culture unique (Spector & McCarthy, 2012). There are less rules and procedures for Nordstrom’s sales personnel than in other retail organizations. Their sales clerks also operate with a certain level of autonomy, running their departments almost as if they are private stores (Mello, 2015). This overall strategic approach to HR keeps training costs low, and consequently the cost of turnover is also minimized. This is important, as Nordstrom’s turnover, due to the level of internal competition and entrepreneurialism this type of retail strategy requires, is one of the highest in its market (Mello, 2015). The high turnover rate makes HR planning an important factor in ensuring a stable workforce that can create and maintain ongoing customer relationships (Spector & McCarthy, 2012).
My company of choice for this report is Macy 's. 'The Magic of Macy 's ', as the company advertises it, has inspired me to shop there, take advantage of their incomparable discounts and great online shopping experience. Macy 's, Inc. is one of the largest department store chains in the United States of America. Macy 's manages stores under the Macy 's and Bloomingdale 's brands. I enjoy shopping at both of the company 's store brands, Macy 's and Bloomingdales. Bloomingdales provides a more personalized experience
Weave Tech has several strategic challenges and opportunities since the purchase of the once then called Johnson-ware apparel in 2007. Since the organization has had the challenge of rebranding themselves to attract a new customer base which is also an opportunity to grow the organization. Weave Tech has to reposition the organization to be successful throughout the changes. Another strategic challenge the organization is undergoing is reorganizing and attracting a new management team which causes for cuts and layoffs. These cuts and layoffs can drastically effect the morale of other employees and ultimately production. Over the next 3 years Weave Tech goal will be to strategically handle these challenges and opportunities while
Amazon follows the ethical principles of reliability, fairness, and responsiveness. The goal is to please customers, which helps the company’s shareholders. The company’s number one leadership principle is customer obsession (Amazon.com). Amazon does this by keeping promises to its customers, dealing fairly with its customers, and responding to the claims and concerns of its customers. When one entity is obsessed over, others are forgotten. Amazon’s obsession of customers led to poor employee treatment. Without employees, Amazon would not be able to accomplish anything. The company’s executives might believe that they are doing what is best for the company by having a singular focus on customers, but this is not the case. While Amazon cares greatly about its customers, the principles of fairness and dignity are not as important to the company when it comes to employees. Some stakeholders, customers, are treated more ethically than others, employees. This is a problem and Amazon’s lack of care for employees has hurt the company
Introduction Being one of the largest retailer in US, Sear Holding Corporation, a parent company of Kmart, Sear Canada and Sears, used to enjoy high market share and a strong reputation. However, the sales of Sear has been declining and people are skeptical of its ability to survive in the market. The latest news revealed that Sear is going to close 64 more Kmart stores across the 28 states (Hayley Peterson, 2016). Several factors are causing the downfall of the sales of Sears. Besides the changes in consumers’ behavior and saturated market, the rash strategic decisions made by the management also led to the negative performance.
The thriving economy of the 21st century revolves around its ability to expedite professionalism. Image in commercialism becomes pragmatic in our visual driven choices. The single most powerful tool an employer possesses is the ability to unify their workforce under a single dress code. Wal-Mart has succeeded in creating the largest commercial enterprise in the modern world by reinforcing the standards of its brand; all while producing affordable supply, across multiple, everyday demands. I’ve chosen Wal-Mart’s dress code as a guideline because of their overwhelming work force, continued financial climb, and unique, easily recognizable brand.
Managing a store is fundamental component of any retail store. Whether this is a brick and mortar store or an e-commerce platform, the store manager or e-commerce manager is responsible for achieving sales targets. Having worked in a fast fashion clothing retail store for almost 18 months and as a former assistant store manager in training. I have experienced the importance of a brick and mortar retail store. Upon reflection besides learning basic retail skills in selling and operating day-to-day store business, the most fundamental learnings where about effective communication, teamwork and leadership, scheduling and costs.