M8: Assignment 3 Deniro Dawson Justin Palyvoda Caitlin Gayle Po Melanie Shane INFO 290_21 Professor Chen Macy’s vs. JCPenney Word Count: 1205 Introduction Macy's, Inc. is a retail company operating stores, websites and mobile applications under various brands, such as Macy's. The Company sells a range of merchandise, including apparel and accessories, cosmetics, home furnishings and other consumer goods.
This industry is very competitive with as many as thirty-seven firms and total estimated annual revenues of $125,904,840,000 (http://bi.galegroup.com/essentials/industry/448140?u=bentley_main). Retail giants like TJX, H&M and Gap are the top players of this industry with Nordstrom vying for the fourth largest market share and Dillard’s further down on the list. The success of Nordstrom Inc with respect to
Companies like Gap, Abercrombie & Fitch and Victoria’s Secret have been called out
Sears and Montgomery Ward sold some houses that were so similar it can be difficult to tell them apart without an interior inspection. If a certain style was selling well for one company, the other rival would design their own version of the same house. This leads to all kinds of confusion today, when homeowners misidentify their houses as being from Sears and they are actually from Wards, and vice-versa.
Carrefour S.A. Crystal Rock Holdings, Inc. Delhaize Group SA Cencosud S.A. EBay Inc. J. C. Penney Company, Inc. Koninklijke Ahold N.V. Metro AG Price Chopper Operating Co., Inc. Roundy's, Inc. Sears Holdings Corporation Shopko Stores Operating Co., LLC The Kroger Co. There always will be a rivalry in this particular market; because they are always competing for consumers, governments, and businesses to purchase their merchandises.
It is in the Department Store industry with over 1,000 stores nationwide. The Industry and the Competitors As the economy has been taking a recent downturn, families are forced to make more frugal financial decisions when it comes to apparel and accessories. Therefore, it is of no surprise that the competition among reasonably priced clothing and department stores is pretty fierce.
Competition According to Hoovers, Target main competitors are Macy’s, Kohl’s, and Sears (Hoovers, n.d.). The reason why these retailers are competitors is, because they are large department chains, and they sell similar merchandise as JCPenney. For instance, these retailers offers a wide range of products which includes, apparel, footwear, jewelry, housewares, handbags, cosmetics, electronics, and many other products. The department stores Kohl’s, Macys, and Sears all sells different type of brands that sets them apart from competitors, as well. Kohl’s added Under Armor to its store, as a way to attract younger shoppers who shop there.
It all began on April 14, 1902 when James Cash Penney founded in the small town of Kemmerer, Wyoming, the Golden Rule store, which had as slogan "to serve the public, as nearly as we can, to its complete satisfaction". The 26-year-old boy had the nickname "Cash" due to his opposition to moral credit. For in your store, selling merchandise only in cash. Initially, the store, in partnership with two merchants, Guy Johnson and Thomas Callahan, sold clothing and accessories, in addition to small varied products. The society was undone a few years later.
Introduction The significance of research is to generate knowledge that can used to solve existing problems. Research creates the basis of policies and program development throughout the world. It allows us to learn more about people, things, and events, in turn, providing the necessary information to make smarter decisions (Sreevidya & Sunitha, 2011). J.C. Penney Corporation is a retail giant possibly on the brink of collapse with sales continuing to decline following the recession of 2009.
Gap is one of America’s leading chain of clothing stores that operates under the brand names Gap, Old Navy, Banana Republic, and Athleta. This humongous company has over 3000 stores worldwide and is located in major outdoor shopping centers and malls. The store's chain offers American type style clothing that ranges from Jeans, Shirts, and Khakis at a fair price. One of its brands, Old Navy offers lower priced clothing’s that include denim, t-shirts, and cargo pants. Its other Brand, the Banana Republic offers a much higher priced luxury line of clothing along with other accessories like shoes.
RECENT OPERATIONAL PERFORMANCE Gap Inc. Gap Inc. is a global specialty retailer offering clothing, accessories and personal care products for men, women, children and babies. The company has grown from a single store to a global fashion business with five brands — Gap, Banana Republic, Old Navy, Athleta and Intermix. Gap was founded by Doris and Don Fisher in 1969. The Fisher family still owns about 40% of Gap Inc..
Sears Roebuck Company is currently a subsidiary of Sears Holdings Corporation a publically traded company. Sears Roebuck Company is in the retail industry providing merchandise and related services to consumers. Sears Roebuck Company range of services include the following: merchandise, apparel, and automotive products. The Kmart Holding Corporation acquisition of Sear Roebuck Company was corporate strategy completed in hopes of creating synergy. Sears Roebuck Company offered consumers leading proprietary brands that included the following: Kenmore, Craftsman, and Diehard.
Banana Republic’s biggest competitor is J.Crew with the addition of Brooks Brothers and for the purposes of our collaboration, Alexander Wang. These brands carry products very similar to Banana Republic such as casual and dress shirts, sweaters, outerwear, pants, denim, swimwear, sleepwear, shoes, bags, accessories, fragrances and stationery gifts. (Add individual market share here). Competitors have their own strategies and ways to stand out. For example, J.Crew partnered with New Balance to bring a sportswears collection to their store and attract a new customer.
GAP is a popular retailer provides several lines of products, clothing, personal care products, accessories, for women, men, children and babies. 2. GAP owns different brands (GAP, Old Navy, Banana Republic, Piperlime, and Athleta) which provides different styles, and targeting different segments which makes it meeting different consumers wants and needs. 3. GAP has franchising agreements with unaffiliated franchisees that operates GAP and banana republic around the world.
For this particular segment, what’s in and what’s out is a matter of what fashion magazines dictate the next day. Gap should have instead done a thorough market research to identify if its customers would want such a new product line. d. DISCOUNT PRICING: Another quick fix method that Gap used only ended up increasing gaps within sales.
