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May Department Stores: Retail Ventures
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MacMinute reader Eric Jasso let us know that Robinsons May stores now carry Apple's iPod: "I was just flipping through today's LA Times and saw an ad for the iPod at, of all places, Robinsons May department stores. Their ad copy says 'The world's best loved music player.' It ... says 'Authorized Reseller.' 20 gig model for US$399.99. Is this the beginning of a bigger retail push?"
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Part of the early allure of department stores was their atmosphere and decor, making the shopping experience a form of entertainment. At one time, these stores were the fashion monitors of the day and led the way with new trends in retailing. They were the first to provide consumer credit and to create mass-produced clothing, and they became the home for national fashion designers. They ... were influential in the development of many American holiday traditions still celebrated today.
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...In the retail sector, home decorating store The Great Indoors made significant cuts as did local branches of department store operator Saks Inc.... Both announced store closures in suburban Chicago, with the home decorator closing its Deerfield branch and Saks saying it would shut its high-end Saks Fifth Avenue store and its connected discount outlet at Skokie's Old Orchard mall.
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Most department stores had plans for some sort of international expansion by 2005. With the completion of the North American Free Trade Agreement (NAFTA) in September 1992, many stores sought opportunities in both Canada and Mexico. According to a Coopers and Lybrand survey, retailers had plans to open stores in Canada. However, those who wanted to expand in Mexico were more inclined to work through joint ventures or partnerships.
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The important Christmas season promised strong returns for department stores, judging by a late-1997 American Express Retail Index report. In a national survey of 800 consumers, the report notes that respondents expected their 1997 holiday spending to exceed 1996 levels by approximately 6 percent.
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"All the major malls are facing department store consolidation," says John Melaniphy III, vice-president of Melaniphy & Associates, a retail real estate consulting firm in Chicago. "There aren't department stores waiting in the wings (to expand), so malls are looking to specialty stores and restaurants."
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