Can Macy’s revive “the miracle”?

From a recent RetailWire comment, about Macy’s plan to spend $400 million on the revamp of its Herald Square flagship. I say, “money well spent” with several side benefits:

There is now a Macy’s in almost every major city in the U.S., so it runs the risk of losing some cachet as the most famous New York-based department store in America. It’s a smart idea to refresh its flagship store in Manhattan, not only because of the enormous volume driven by the Herald Square store to begin with, but also because of the “halo effect” on the rest of the company.

Macy’s can also learn from its successes in the remodel in order to roll out similar ideas to its other flagships around the country. The Union Square store in San Francisco, the State Street store in Chicago and others can use more razzle-dazzle along with some rethinking of the department store experience. Macy’s certainly has one eye on Nordstrom and another eye on JCPenney’s new management team as it develops innovative new strategies.

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