How does a department store company grow when department stores, as a category, are not doing so well? They have to go where customers are, and in general where customers are headed is “downmarket.” Looking at the success that its competitors have had with stores aimed at “aspirational shoppers” with thinner wallets, Macy’s is expanding into the discount brand-name model that you can find at chains like Nordstrom Rack and Off Fifth. [More]
