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Thats what they get for having an educated consumer as their best customer.
For most business a dumb customer is their first choice. nothing better than having a business and a customer that walks in and says ill leave it to you to hook me up.
Jeez, what's next...Men's Warehouse? I like the way I look!
Syms recently bought a stumbling Filene's and failed to turn it around. That has to be a significant reason for Syms demise. Marcy Syms (remember her introducing programs they sponsored on channel 13) said that "the two discount chains were burdened by increasing competition from department stores offering the same brands at similar discounts and by a rising number of private label discounters. She also said there was less overstock for her company to buy as businesses managed their inventory carefully because of the sluggish economy."
Maybe they should never had tried to rescue Filene's, or maybe Syms would have folded anyway. I don't know.
While there are obviously many people who wear suits, I can't help but think that the more casual style these days (very few restaurants require jackets anymore; fewer people were suits to the theater; take a look at a picture of a crowd at Madison Square Garden in the 1940s or 1950s--everyone is wearing a suit) has made selling suits a tough business indeed.
If it's any consolation, I went downtown a few weeks ago, and their stuff was sparse and not up to their past standards. I always liked them, but people seemed to prefer Century 21.
Mathjack, that's sadly hilarious about the educated consumer.
I guess it's the GREAT RECESSION that is beginning to take hold. It seems possible it will go on for decades, become systemic.
If so, one by one the retailers will start to fail.
Looks like Sears-K-Mart will be the next to go bye-bye after 125 years in business.
Is it only WALLMART and TARGET that will be left standing?
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