So, someone asked me the other day, “Hey, what’s the deal with Macy’s? Are they actually doing okay in 2024, or are they just… you know… slowly sinking?” And it got me thinking. I haven’t really stepped into a Macy’s in ages, though I see their ads online sometimes. It’s one of those stores that’s just always been there, right? Like part of the furniture of shopping malls.
I decided to poke around a little, not like a financial wizard or anything, just out of plain curiosity. My usual first step is just to see what the general vibe is. You type it in, see what headlines pop up. It’s a bit like checking the weather before you go out.
My Quick Look-Around
First thing I noticed, and it’s not exactly a secret, is all this talk about them changing things up. Big time. They call it a “bold new chapter” or something like that. Whenever a company starts talking about “bold new chapters,” it usually means the old chapter wasn’t so great. That’s just my gut feeling, anyway.
I saw bits and pieces about them wanting to focus more on their luxury stuff. You know, Bloomingdale’s, that’s their fancier cousin, and Bluemercury for the fancy makeup. Makes sense, I guess. The folks with money are still spending, or so they say. Maybe they figure the regular Macy’s brand needs to either get more special or shrink down a bit.
And speaking of shrinking, yeah, there was definitely news about store closures. That’s always a tough pill to swallow for a company, and for the folks who work there, obviously. You don’t usually close stores if you’re massively growing in those spots. It feels more like they’re trying to cut off the parts that aren’t working to save the main tree.
What It Feels Like On The Ground (Or Online)
I did hop onto their website. It looks… like a website. Lots of sales, which is pretty standard for any big retailer these days. Everyone’s screaming for attention online. The real question is whether people are clicking “buy” enough, and more importantly, if they’re making good money on those sales.
It kind of reminds me of this old diner in my neighborhood. Used to be THE spot. Then a bunch of new, trendy places opened up. The diner tried to keep up, even put avocado toast on the menu, bless their hearts. But it was still the same old diner, just a bit more stressed out. I’m not saying Macy’s is exactly like that, but you get the idea. The whole shopping world has changed so much.
They’re also talking about making the remaining Macy’s stores better. More products, better experience. That costs money, of course. And they’re up against Amazon, Shein, Temu, all those online giants, plus the Targets and Walmarts of the world. It’s a crowded playground.
So, Growing or Declining?
Honestly, from my little bit of poking around, “growing” isn’t the first word that jumps to mind. It feels more like they’re in a massive reshuffle. A fight for relevance, maybe. They’re definitely trying things. Lots of plans, lots of changes.
Here’s what I gathered, just my two cents:
- They know things need to change: They’re not just sitting there. They have this plan, “A Bold New Chapter.”
- Focusing on luxury: Seems like a core part of it. Go where the money is, or where they think it is.
- Store closures are happening: Which suggests some parts are declining, for sure. They’re trying to make the remaining ones stronger.
- Digital is key: But it is for everyone, and it’s a tough battle.
So, is it “growing”? If you mean are they opening hundreds of new stores and sales are exploding everywhere, then probably not right now. It feels more like they are trying to re-grow in a different way, a more focused way. It’s like they’re pruning a big, old rose bush, hoping the new blooms will be stronger, even if the bush itself is a bit smaller overall. Will it work? Heck, I don’t know. Ask me again next year. It’s a tough world out there for these old department store giants. Definitely not a straightforward “yes, growing like crazy!” situation. More like “working really hard to not decline and hopefully find a new way to grow.” That’s the vibe I got.
