SUFFERED A BLOKEN JAW IN THE
CRASH.
THEY ARE LOOKING FOR THE DRIVER
WHO DROPPED THAT CRATE.
TODAY, MACY'S ANNOUNCED IT
IS CLOSING 100 STORES.
THEY DID NOT SAY WHICH ARE
CLOSING.
THAT WILL BE ANNOUNCED LATER.
ANGELA DAVIS SHOWS US, MAILS
SI'S AND OTHER RETAILERS HAVE
BEEN WORKING WITH DECLINING
SALES AND PROFITS FOR YEARS.
THEY HAVE 11 LOCATION INSIST
MINNESOTA AND MOST OF THEM
INSIDE SHOPPING MALLS.
LOYAL CUSTOMERS SAY THEY DON'T
GO TO MALLS ANY MORE.
TWO KIDS.
WORKING FULL TIME.
I END UP GOING TO ON LINE.
IT IS EASIER.
MORE CONVENIENT.
THEY HAVE GOOD SHIPPING.
DR. GEORGE IS A MARKETING
PROFESSOR AT THE SCHOOL OF
MGHTD.
I WOULDN'T SAY BECAUSE
EVERYBODY KNOWS ME AND SEES THE
THANKSGIVING DAY PARADE AND
BUSINESS REALITIES OF WHAT IS
GOING ON.
RETAIL IS STRUGGLING FOR THE
LAST SEVEN YEARS.
IT IS A TOUGH, TOUGH WORLD
TO BE IN IF YOU ARE IN RETAIL
AND EVEN TOUGHER IN YOU ARE
LIKE MAY SIS'.
YOU ARE THE MIDDLE MARKET WHICH
USED TO BE THE CENTER.
YOU SEE THE TOP END DOING OKAY.
HARD DISCOUNT END DOING ALL
RIGHT AND THE MIDDLE MARKET IS
WHERE IT IS REALLY HURTING.
OUR SHOPPING HABITS HAVE
CHANGED.
CLEARLY, THERE IS SOME
PRESSURE FROM ON LINE.
I DON'T WANT TO STRESS THIS AS
THE SOLE CAUSE IT OF IT.
WE DO DIFFERENT THINGS.
YOUNG PEOPLE WANT IS NOT WHAT
THEIR MOTHERS AND FATHERS
WANTED.
PEOPLE ARE WORRIED ABOUT THE
ECONOMY AND HOLDING ON TO THEIR
MONEY.
WE HAVE MONEY AND WE ARE A
LITTLE CAREFUL ABOUT HOW WE
SPEND THE MONEY.
WE ARE INUNDATED WITH SALES AND
STUFF.
AND WE LOOK SHARPLY BEFORE WE
GUY.
DARRELL HARRIS WORKS AT THE
MACY'S IN DOWNTOWN MINNEAPOLIS.
YOU KNOW THE BUSINESS AND WE
WILL BE FINE AND MACY'S WILL
RECOVER.
WELL, THE 100 CLOSINGS
REPRESENT 15% OF THE TOTAL
NUMBER OF MACY'S STORES
NATIONWIDE AND WILL RESULT IN
THE LOSS OF SOME JOBS EARLY
NEXT YEAR.
THEY DID NOT ANNOUNCE WHICH
STORES ARE CLOSING.
THEY ARE FINALIZING THE LIST
AND THEY WILL MAKE THAT AT A
LATER DATE: IT IS A BIT OF A
SURPRISE.
WAS HE THANKING YOU
PERSONALLY.
YES, ME AND YOU AND WOMEN OF
WCCO FOR CONTRIBUTING TO MACY'S
PROFITS.
WE DO ALL THE TIME.
A LOT OF THEM ARE INSIDE THE
MALL IT IS AND ANY SORT OF
IMPACT ON SALES.
HE IS NOTICING AND HE SAID
NATIONWIDE MALLS ARE NOT DOING
WELL.
THEY ARE NOT SEEING THE TRAFFIC
THEY HAVE SEEN IN YEARS PASSED
AND WHEN YOU LOSE A BIG STORE
