People Like Brick-And-Mortar Retailers, Just Not Bad Ones
Online retailers may be luring business away from brick-and-mortar shops, but consumers still like going to stores that offer the right experiences, Hudson’s Bay CEO Jerry Storch said Friday. While there was good news in June’s retail sales, which saw a 0.6 percent jump from May, apparel sales dropped 1 percent. And nonstore retailers saw a 14.2 percent rise in sales in June compared to a year earlier, while department stores had a 3.7 percent drop. “A lot of department stores are tired and ugly,” said Storch, who as chief executive of Hudson’s Bay, oversees names such as Lord & Taylor and Saks Fifth Avenue. “People don’t dislike bricks-and-mortar retail, they dislike bad bricks-and-mortar retail. They love experiences.” See more at CNBC.
