Recently, I read a RetailWire article about Macy’s shutting down 150 of its 500 stores. For those in other parts of the world, Macy’s is a department store chain, and its stores often anchor large shopping malls. However, while that describes more than 25% of its stores, it represents less than 10% of sales. Some might say Macy’s is “trimming the fat” or “getting rid of the dogs.” From a financial perspective, that may be true. But it’s more than that. What they are doing is what any good business would do, and that’s changing to keep up with customers’ ever-changing habits and expectations.
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