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Columnist puzzled over aggressive NYC department store development

Forbes 12/21/2016

Forbes contributor Walter Loeb is worried about department stores — in particular, one of his favorites, Neiman Marcus. Although Saks, Macy’s, Bloomingdale’s, Bergdorf’s and Lord & Taylor can certainly see sales slipping away to e-commerce, they have all initiated major renovation programs in attempts to keep NYC shoppers engaged. Neiman is expected to open a new 250,000 square foot store at Hudson Yards in September of 2018. Writes Mr. Loeb, “it is very likely the store will underperform from the start.”

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