A Well-known Investor
Armani and Ferragamo Discontinue New Merchandise Shipments to Macy’s Stores – Customer support Atrocious!
The consolidation incanto heaven salvatore ferragamo and transformation of the Bon Marche, May’s, and Marshall-Fields into Macy’s is alleged to be an excellent thing, right You’ve a huge retail merchandising conglomerate, Federated, that has super buying power and affect over distributors. Theoretically, they’ll safe favorable deals with distributors and make a nice profit whereas passing financial savings along to shoppers.
It appears that some main excessive finish brands are pulling their merchandise from Macy’s stores. In accordance to 2 sales associates at the Macy’s Males’s Store in San Francisco, each Ferragamo and Armani are pulling new merchandise from Macy’s stores. They didn’t provide a rationale for the change, but my personal opinion is that it’s because Macy’s sucks. Relatively than elevating the bar with their multiple acquisitions and the consolidation of multiple retailers, they’ve lowered themselves to the lowest frequent denominator (in this case, the Bon Marche).
The one theoretic benefit Federated has is their actual estate – they’ve many prime areas throughout the US and they’ll focus their efforts on shops which can be performing well and shut locations which can be underperforming. Nonetheless, Federated has made an enormous, Big strategic mistake by consolidating their acquisition below the Macy’s model and then lowering the quality, service and selection of merchandise.
The addition of a brand new Bloomingdales’s within the renovated San Francisco Metropolis Middle, only blocks from Macy’s on Union Sq. represents unnecessary duplication as each are Federated brands.
A latest incanto heaven salvatore ferragamo visit to the Macy’s Males’s store in San Francisco’s Union Sq. was a nightmare!
Here is a run down of my dealings with Macy’s Affiliate #277632 on Terminal 511 (2/17/07 at four:27 PM within the SF Males’s Store at Union Sq.):
- The shoe guy was retarded once i asked questions concerning the shoes – he did not now which of them had been on sale and could not actually provide any particulars concerning the sneakers (Nike and Adidas running footwear – fairly basic).
I instructed him I take a 9 or 9.5 relying upon the shoe – he repeated it twice after which solely brought me the scale 9.
He handed me the field and watched whereas I struggled to pull the paper wadded up within the toe out in shreds and untie the knotted shoe strings. He didn’t offer to assist with a shoe horn.
4. He partially rang me up after which another affiliate threw my receipt at me because he wished the cash register.
Miserable Macy’s Males’s Store in San Francisco.
Unfortunately, I had to shop at Macy’s because I had a present card to redeem, otherwise I might have made my purchase at Nordstrom. I really like Nordstrom. They offer glorious service, a good collection of merchandise AND they have cheap costs. Neiman Marcus and Saks are too expensive for my finances, but I can splurge at Nordstrom.
I would love to see FD tank during their 4Q Earnings Webcast on February 27, 2007. Nevertheless, their similar retailer sales were up in November and they reported will increase of 8.6% on Feb. 8th. If they needed to drastically reduce costs to get hit these sales targets, their revenue should be out of attain.
A well-known investor, Carl Icahn, recently indicated a need to greater than tripled his stake in Federated Department shops. Mr. Icahn is a well known for shaking issues up at GM and Time Warner and he is concerned with many different companies. He strikes in on companies the place he thinks the management is doing a poor job and then tries to get on the Board of Administrators. He has had some success and who knows what this will imply for Federated Department stores.