« Discounts are a cancer »
In an interview on CNBC, Allen Questrom ex-CEO of JC Penney, Macy's, Neiman Marcus and Barneys described sales and discounts as a "cancer for department stores". Specialists like Uniqlo and Zara maintain traffic without constant sales. Furthermore, department stores should leverage their brick-and-mortar assets. These are valuable as is shown by online retailers such as Bonobos or Warby Parker opening stores. Department stores should worry that brands like Coach or Ralph Lauren are cutting back their wholesale shipments to department stores.
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