Retail giants have had a rough year. While the economy continues to make gains, the stock market reaching record highs and jobs reports putting smiles across economists’ faces, retailers such as Macy’s have failed to exploit the improving economic landscape. In fact, according to WWD, Macy’s Inc., Sears Holdings Corp., The Limited, American Apparel, BCBG Max Azria Global Holdings, Wet Seal, J.C. Penney Co. Inc., and Abercrombie & Fitch Co. are set to shut down around 1,000 stores this year.
While there are undoubtedly multiple factors playing into these disappointing results, one of the main reasons for the slow sales was a result of bad product assortment. Basically, the retailers failed to put the right products on the shelves and consumers punished them by … Click HERE to continue reading