Macy's Plans Job Cuts, Kohl's Cuts Earnings Forecast

The video discusses the challenges faced by retailers, particularly department stores, in the wake of the election and changing consumer behaviors. Retailers like Macy's and Kohl's have struggled with declining sales, especially in accessories, and have been forced to close stores and adjust strategies. The video highlights the secular shift in shopping habits, with consumers moving away from malls and traditional department stores. It also examines the financial implications for these retailers and their attempts to adapt through real estate and store size adjustments.

What was the primary reason for the decline in department store visits according to the first section?

• Higher prices in department stores

• The election results

• A shift in consumer behavior

• Increased online shopping

Which retailer was noted for better performance due to focusing on different consumer segments?

• Amazon

• Kohl's

• JCPenney

• Macy's

What financial challenge did Macy's face in 2017?

• Increased competition from online retailers

• A decline in accessory sales

• Rising operational costs

• Store closures and sales declines

Which category was surprisingly weak during the holiday season?

• Electronics

• Apparel

• Home goods

• Accessories

How did Macy's plan to manage its financial challenges?

• By expanding store sizes

• By leveraging real estate assets

• By reducing product prices

• By increasing online sales

What strategy did Kohl's prefer over closing stores?

• Rationalizing store sizes

• Expanding into new markets

• Partnering with other retailers

• Increasing advertising

What common excuse did retailers use to explain poor performance?

• Bad weather

• Election impact

• Supply chain issues

• High competition