These are all great! I especially like the IKEA ads, however, because there they are and you identify the brand and they are helping (possibly exasperated) parents keep the kids occupied with something easy and fun. Win-win. All of these are terrific to put some light-heartedness on a gloomy situation and bring some fun -- while not pushing. That is great marketing.
They were fortunate and in a great position and, given that, they had a lot to lose. However Walmart rose to the occasion and executed! I believe they have now even further enshrined themselves in the consumer's mind as the go-to store for a physical experience -- and on top of that, they have great online AND BOPIS, too! You have to congratulate their hard work. (I must say the same, with a little less impact, about Target. And really the other large grocers did a fantastic job as well, it is just that Walmart offers customers almost everything!)
Wow, J.C. Penney is unfortunately done -- but this gives Amazon a local position adjacent to MANY customers for last-mile fulfillment, and a pick-up opportunity also! It may give Amazon a few more large fullfilment center locations as well -- More regional in relation to J.C. Penney warehouses. And they would be able to OWN and control a lot of the real estate as theirs --no rent. Also, J.C. Penney does actually have some well-liked private brands and there might be something salvageable there (St. Johns Bay, Claiborne) And YES --- as others have said -- a few of the stores in more tony areas (King of Prussia for example) could become Amazon hubs with Amazon offerings within! This has potential! And this would be an unbelievable bargain! Finally, perhaps Amazon could employ some of J.C. Penney's 90,000 workers -- that would be best of all!
The problem here, as already noted by Mr. Saunders, is the crushing debt load upon Neiman's. Also, while not horrible, the luxury market is NOT what it used to be and as mentioned by several others, there may not be need for two near-by players in this arena. Having said all of that, as noted, the debt is crushing and must be sorted out, if possible.
If I were advising Mr. Baker, or HBC, I would advise not to even consider this until the debt is already sorted out through Chapter 11. As stated by Mr. Detroyer, Saks could more easily pick up locations much more economically if and when Neiman's was to fail. Both companies enjoy fantastic reputations and brand value so there is no need to think in terms of one being better than the other, so acquisition or merger is not required by Saks.
If the two did merge, both nameplates should probably go forward, with an attempt for the two to maintain their own different culture and aesthetics. (Example: Macy's ridding itself of all the acquired nameplates may not have been the best move, in retrospect.) Market review would need to be truthfully performed and the more productive nameplate should continue with closure of a nearby alternate, across the country. The maintained differences between the two would drive visits to "the other" when customers were in proximity of a different offering.
It will be interesting to watch this play out.
Brookfield is a great company and this will help the chains. This will not help the small retailers given the $250 million annual sales requirement. A second/different version of the proposal for small businesses in their properties might have been good --although costlier to run perhaps? I do give them credit for trying and doing.
I fear for them. I wish them the very best.
I am not a brilliant man, however, I am not stupid either. Fix yourself. Pay attention. Focus. I can't sell a boring unimaginative merchandise mix to uninterested customers, so let me expand into goods where I have never competed previously and where people who are supposed to know the business are failing? I hope they pull it off and prove me wrong!
The day of the department store is 50 years in the past. Mr. Seesel, wow -- a blast from the past! For those youngsters who do not know, the wonderful names mentioned by Mr. Seesel all had a unique and different culture and feel!
Associated Dry Goods was an excellent and genteel company with the crown jewel as Lord & Taylor, with many other wonderful stores!
Allied Stores Corporation was a great and well run company with Jordan Marsh as one of the top dogs! (Bonwit Teller was a part of that organization before being sold into disaster with Hooker).
Federated was, for the most part, the best store in its market. Such great names as Rich's, Lazarus, A&S, Bullock's -- oh and the top dog was Bloomingdale's, a brighter and more vibrant Marvin Traub version compared with today.
Marshall Field's was BATUS and then Dayton Hudson, and was a great store up to the very day of its demise! The May Department Stores Company was a terrific middle of the road retailer, fairly beloved in all of its markets, with great names like The May Company in LA, Kaufmann's, Famous Barr, all well run and in touch with their markets and customers.
Macy's under Mr. Finkelstein was a great, smart, exciting store. There were also Mercantile Stores too!
All of that -- hundreds of stores, and thousands of jobs are gone! All consolidated and folded into Macy's efficiency, and sameness (I still Hope that Macy's survives for the sake of all those employees!).
And with the internet now available, those stores are sadly no longer needed. But for a while it was great and fun and very competitive!
2,000 years ago Jesus Christ told us to do unto others as you would have them do unto you.
R-E-S-P-E-C-T! Is more than just a song by the Great Ms. Aretha Franklin.
People are dying and these people are doing their jobs! And they could pay a very big price for that exposure. They should be shown respect. Respect can come in a LOT of ways. Healthcare from employers, appreciation by customers, etc.
I HOPE that when this is over people do NOT return to the thought that "it is their job." Some people have the benefit of education. Some people are lucky to be born into moneyed families. These people working in grocery stores are hard working and get up every day and do their job and they might be doing a job that you might NOT want to do.
That ALONE should earn them respect!
As for the healthcare workers -- they do NOT know when the patient who is going to expose them is going to show up and they DO their job. They are professionals, as are all the others, but they have conviction and courage and God bless them!
ALL OF THESE PEOPLE DESERVE Every bit of appreciation and hopefully there will be benefits that will go forward for them.
I REALLY HOPE that we REMEMBER the courage and sacrifice of all these people when things return to "normal." The jaded part of me says that that will not happen, but the optimistic side says that people WILL remember the conviction and courage of all these true heroes!
This is such an awful, unprecedented, terrible time. Mr. Ryski is CORRECT. There has to BE a company that survives to go forward and terrible decisions must be made. Your associates, however, are YOU -- and they are paramount!
I personally LIKE J.C. Penney and I am rooting for them. I think Jill Soltau and her team are solid good retailers and merchants. I wish them the best. I however am very fearful that the store I REALLY do like will NOT be with us for long -- for so MANY reasons, as brilliantly already detailed above! I also worry about a LARGE debt which is unsustainable and I am afraid will suffocate J.C. Penney.
I was thinking about this the other day. I pictured floating angels in heaven and one yelling out "Hey James, You're namesake store closed down," and Mr. Penney's otherworldly persona replying -- "Well, 100 years isn't a bad run. Nothing lasts forever."
Mr. Sward, You are SO right. Those three LA stores had TOTALLY different personalities, cultures, and vibes and did different things for different people on different days. Most other cities had the same situation -- they are too numerous to list. As Mr. Phibbs said, we ended up with one big, very beige store. The situation of retail over the last decade did a lot of hurt and damage to this store as well as the industry overall also. I wish them the best!
When I talk to Millennials (if they will patronize me and speak with me) and if I bring up this store as well as others like it, I get a blank stare and a question, "Why would I go there?" usually followed by: "I would not go there, that is a place for my mom or grandma."