Original article by Patrick Hatch
The Age – Page: 20 : 16-Jan-18
Terry Lundgren, the executive chairman of US department store chain Macy’s, says Australian retailers should aim to compete with Amazon by offering unique products and a unique shopping experience. Lundgren is upbeat about the outlook for department stores, and says they can survive by adapting their business models to reflect changes in the sector. Macy’s has scaled back its store numbers in recent years and opened discount outlets in some of its stores. Myer Holdings has adopted the same strategies in Australia.
RH MACY AND COMPANY INCORPORATED, AMAZON.COM INCORPORATED, MYER HOLDINGS LIMITED – ASX MYR, BLOOMINGDALES, BLUEMERCURY, TJ MAXX, NATIONAL RETAILERS FEDERATION