Department stores will endure says Macys exec

Department stores like Myer and David Jones are not going anywhere despite the disruptive forces battering them on all sides, according to a leading executive at Macy’s, one of America’s most iconic retailers.Executive chairman Terry Lundgren, who was chief executive from 2003 to early last year, said department stores still offered a compelling basic proposition to shoppers and could thrive again by adapting to the tectonic shifts in the industry.
"If you want only Nike footwear, you can go to the Nike store," Mr Lundgren told Fairfax Media on the sidelines of the National Retailers Federation annual expo in New York.
"But if you want athletic apparel and you want to choose among your options, you go to Macy’s or Bloomingdale’s." Sydney Morning Herald – Read more…