Macy's, Kohl's close department stores as they struggle to remain relevant
(www.yahoo.com)https://www.yahoo.com/finance/news/macys-kohls-close-department-stores-as-they-struggle-to-remain-relevant-225146211.htmlAmerica's department stores are trying to stay relevant in a new era of consumer behavior.
As consumer preferences have shifted to low-price convenience players like Amazon (AMZN), Walmart (WMT), TJX (TJX), >and Ross Stores (ROST), legacy department stores face a critical juncture.
"There's all these other alternative retailers [that] didn't use to exist like Walmart and Target, ... in hardware Home Depot and Lowe's, and in beauty like Ulta, and, of course, online like Amazon," Morningstar analyst David Swartz told Yahoo Finance. "The department stores were created for a completely different customer."
