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29 days ago
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Like other drugs that provide a momentary high but lead to a downward spiral, discounting in retail can have a similar effect. Macy’s M +0.2% announced plans for 45 additional Backstage, off-price shops-within-shops by year’s end may seem like a good tactical move but based on current trending seems like a strategic misstep. The announcement was made, during J.P. Morgan’s 7th Annual Retail Round-Up conference, as reported by Retail Dive. In discussing the plans, Macy’s CEO Jeff Gennette defended the move since existing Backstage departments outperform the rest of the store by 20 percent.

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