Department Stores Reposition for Today’s Consumer While Outlet Stores Proliferate, Business and Industry Trends Analysis

In order to better understand what is happening in the department store sector, a bit of history is in order.  Older consumers may remember Sears Roebuck’s “Sears has everything” line?  Others might recall going into Saks Fifth Avenue’s flagship store in Manhattan and finding everything from haute couture to a travel agency to a restaurant, plus a hair salon, a toy department and a fine jewelry department—all at full price?  Things are quite different today. The department store industry has evolved and generally suffered in recent decades.  Originally, the department store was developed and enhanced by retail pioneers in France…

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