Macy’s, J.C.Penney accept that it’s Amazon’s world and they just live in it

quote:

---

LA Times - Consumer Column

First the good news: The Commerce Department reported last week that consumers went shopping in July. Retail sales rose 0.7%, after a 0.3% gain in June.

This is important because consumer spending accounts for about two-thirds of U.S. economic activity, so what’s good for retailers is literally good for America.


Now the not-so-good news. Major retailers such as Macy’s and J.C. Penney reported some dismal quarterly numbers, suggesting that things may not be as upbeat as the Commerce Department would have us believe.

---

quote:

---

Reinvention is the watchword for department stores. Some, such as Kohl’s, are inviting crowd pleasers like fitness clubs and yoga studios to share their space. Others, such as Nordstrom, are experimenting with micro-stores that don’t even sell things — they’re designed to promote online sales.

Macy’s and Penney both announced last week that they’re partnering with a company called ThredUp, which sells second-hand women’s duds. Yes, two of the most prominent names in retailing are getting into the used-clothing business. That’s what it’s come to.

---