Fitch Ratings: Sale of Lord & Taylor flagship a positive
Retailers continue to evaluate their physical footprints in the context of growing online sales in order to find the right balance between the two. Many department stores are selling square footage to add experiential components to the stores or allocating some of the existing square footage to growth concepts, such as Backstage inside Macy’s.
We expect department stores will continue to reevaluate their physical footprints in the near-term as they implement omnichannel strategies.
Fitch views Hudson’s Bay’s announced actions to pay down some debt and increase liquidity as positive. But concerns remain around the company’s ability to effectively manage SG&A and navigate through the secularly challenged department store space.
We expect department stores will continue to reevaluate their physical footprints in the near-term as they implement omnichannel strategies.
Fitch views Hudson’s Bay’s announced actions to pay down some debt and increase liquidity as positive. But concerns remain around the company’s ability to effectively manage SG&A and navigate through the secularly challenged department store space.