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user-inactivated · 2683 days ago · link · · parent · post: Macy's announces 5,000 job cuts, more store closures
Remember when we talked about Packard buying Studebaker was a recipe for failure? I think when you merge two companies right after both were coming out of bankruptcy, you can't hope for the best.
They did really well though, for quite a while. I think part of the reason they lasted this long was just by sheer market share. Their strategy seemed to consist of buying up a few more brands in an attempt to gain more market share and cut off other competitors. The changing economy though, seems to be catching up to them. It'll be interesting to see if they survive or start to sink faster and faster like SEARS is.