February 28, 2005
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Federated is preparing to buy May Co., which owns the Foley's chain for which I occasionally work. I was all a-twitter this morning, gleefully anticipating the time when Foley's is morphed into Macy's . . . gone, surely, will be the weird opening and closing times and those pernicious coupons!
Ha. Maybe the times of operation will be sorted out, but apparently Federated has itself fallen into the coupon trap.
Here's what really gets my goat, however . . . the various news pundits are talking about the proposed merger as a way to create a retail behemoth capable of going toe to toe with Wal-Mart.
Wal-Mart???
Look, I shop at Wal-Mart myself, but still . . . when I'm on the floor at Foleys I think of Dillards and Penneys, perhaps, as our competition, not Wal-Mart. Lo, how the mainstream department stores have fallen, if they have to consider the Big Box Discount Stores as their competition.
Comments (2)
Just remember how clueless the "various news pundits" tend to be about soooo many things.
And, I doubt that they were talking about "category" purchasing so much as end of year sales amounts. After all, It's All About The Money.
Who cares that what Walmart sells, including automotive, garden equipment, eyecare, pharmaceuticals, food, toys, etc, is vastly different than those others? Hmmm? Let's not compare apples to apples.
Sheesh.
And you know what's worse? I bet those stores are just as happy to have a shot at toppling Walmart from the top of the retail heap!
me<><
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