With the economic state around us, even Macy’s is susceptible to the downfall of the “almighty” dollar. News is floating on the internet that Macy’s will be shutting down 11 stores in 9 states, including Los Angeles and Nashville. While it is inevitable, even for big department stores, to shut down stores in order to save the company, it nevertheless sad to see good companies go down the drain (and I’m not referring to Detroit’s “big” 3).
Thankfully, Macy’s will continue their online operations to generate revenue and business, and I believe that for 2009 and on, online business will become more important for retail operations than ever before.
Thoughts? Comments? Let me know what you think!