A recent Retail Traffic report puts the market outlook in stark terms for department stores. Some are making it and some are not. The growing trend in retail toward bold reinvention has businesses scrambling to rebuild and redesign their stores, integrating specialty sections and signing exclusive deals with brands.
“For many, many years, the specialty chains were where the excitement was in retail, they were bringing out the newness and fashion and the department stores were bland,” industry consultant Craig Johsnon said to the news source. But now “there is uniqueness and value that, if you want to get it, you have to go to a particular department store.”
Businesses building new stores or renovating old ones could benefit from modern bid management software and change order management systems, both of which could save logistical costs of renovation. The news source places the price tag for J.C. Penney's ambitious renovation plans at $100 million dollars.
Recently released data for January, according to Chain Store Age, shows that the range of revenue movement is vast. With some large chains boosting same-store sales by less than 1 percent this year and others, such as Saks, boasting a 10 percent rise, the divide is sharp between those with a working strategy and those without.
