The retail tailspin continued last week when big chains including Macy’s, Kohl’s and JC Penney reported first-quarter sales declines. On earnings calls, brands suggested better marketing would help reverse the slide. But analysts aren’t so sure and predict more store closures than the hundreds already announced.
“The problem with some of these stores is too much sameness the brands aren’t special enough,” said Oliver Chen, retail analyst at Cowen & Co. “These stores need to reinvent themselves.” He noted more personalized marketing, better products and radical changes to the store experience could help the situation.
Here’s what to expect later this year from America’s biggest retailers:
The retail tailspin continued last week when big chains including Macy’s, Kohl’s and JC Penney reported first-quarter sales declines. On earnings calls, brands suggested better marketing would help reverse the slide. But analysts aren’t so sure and predict more store closures than the hundreds already announced.
“The problem with some of these stores is too much sameness the brands aren’t special enough,” said Oliver Chen, retail analyst at Cowen & Co. “These stores need to reinvent themselves.” He noted more personalized marketing, better products and radical changes to the store experience could help the situation.
Here’s what to expect later this …read more
Source: AdAge