An iconic retail giant that could use some good news right about now is turning to the tech world to help it right the ship. According to Fortune, Macy’s has signed an intriguing deal with Apple with an eye towards boosting sales in its physical stores.
Macy’s flagship store at Herald Square in New York City will soon be home to its very own Apple store. Additionally, the company will be offering the Apple Watch at more than 180 of its physical stores – just in time for the most important time of the year for retailers.
“It will be in all of our top buildings for the holiday season,” said President and CEO-designate Jeff Gennette.
Apple has made some news of its own of late with the introduction of new products across its successful product lines, and those same products will be at the top of consumers wish lists. That could pay tremendous dividends for Macy’s, as stores that are packed with holiday shoppers just may wish to kill two birds with one stone and grab the Apple product on their list while their within the confines of the iconic retailer. It could also serve as a drawing card for Macy’s, so the move looks like a win-win for both parties.
Gennette, who will take the reins of the company from longtime CEO Terry Lundgren early next year, announced the plans in a call with Wall Street analysts. He alluded that there may be some other things in the works for the retailer that’s looking to break out of a sales slump, which should include increased food offerings in its stores. It’s rumored that Starbucks could have an increased presence in Macy’s moving forward, as the coffee chain already has a presence in nearly 50 of its locations.
Macy’s has been going through a pretty significant rough patch of late, as same-store sales have declined for six consecutive quarters. Last year, the company closed 40 of its underperforming stores, and that was followed by the announcement that 100 more will be closing early next year. The deal with Apple and the plans to increase food offerings are encouraging signs, and they could very well help right the ship for one of the world’s most iconic retail chains.
