RJ Cilley’s Post

In an interview a while ago, Richard Baker, the owner of HBC and SAKS, described himself as a real estate guy, not a merchant.  Yesterday, it was announced that SAKS is buying NM. This was presented as a good thing: consolidation of resources, diversification of offerings (currently, the companies share a high number of brands), and many other great initiatives. Unfortunately, the real reason is unknown. When the principal of the company is not a merchant, who knows what the end goal is? Neither SAKS nor NM is doing well. A few years ago, when online was still hot, SAKS spun off their online business (remember OMNI mantra? No more). You don't need to be an economist to understand why. At the same time, NM went through bankruptcy, picking up an additional bank loan for recovery that is probably difficult to pay back. I don't think there is a bright future for department stores the way they currently run. In the last 30 years, society has undergone a dramatic change; the way people look at brands, clothes, and shopping is very different. However, department stores have patched their old ways and remain the same. Mergers like this add to this narrative, to the attempt to stay in business: cutting locations and payroll is the way to go if you have no other strategy. Macy's has been doing it for years. We will see stores closing, layoffs, and brands losing distribution. But this is justified to help both companies to survive. It is a short-term strategy - nothing is going to change if the department store doesn't change its way of doing business. If they want to keep the old model (I guess they do), two changes need to happen for them to succeed: Different ways to work with brands (partnerships). Different ways to work with sales associates. PS> WWD mentioned that only 6 malls have both NM and SAKS. However, in almost all key markets: LA, San Fran, Chicago- free standing stores are across the street from each other. #wwd #bof #fashionretail

I am still looking for my next long term career but in the mean time I’m currently in the process of earning my Red Vest at Lowe’s as a Part Time Indoor Lawn and Garden Associate! TL;DR - A True People’s Leader. My husband celebrates his one year anniversary at Lowe’s tomorrow 🎉 and when I resigned from my role that came with some financial stressors. When that happened he spoke about it to his boss and before you know it I had an interview! During the interview Leo asked me what I wanted to do, not just at Lowe’s but in general. He spoke on his experience and gave me some great advice, and found me a part time role to get my foot into the door. We spoke about my interest in growth within the company and also outside of the company but for the first time in a very long time it felt genuine and I felt heard, not just as an employee but as a person. It has helped me get over the embarrassment of being unemployed. A few things Leo said that have stuck with me are that he believes in giving someone a second chance and giving them an opportunity to get them on the right path, he puts pressure on his people to see what they can and can’t handle to help direct them in their careers and to learn how to communicate, and “I want to get rid of my people” and not in the bad way, he wants to see growth. Leo could’ve said I was over qualified for an hourly position, but he never did. He could’ve said I couldn’t work there because my husband does, we didn’t even speak about anyone else but he and I. He took time to speak with me and is giving me my “second chance” that he spoke about. It’s giving me a glimpse of the leader I want to continue to grow to be. Now I get to be apart of the Lowe’s team, and it’s the coolest thing. It was tough saying yes going back to the hourly workforce, however I am learning big box retail for the first time and although a lot of my experience is transferable - there’s so many peices within these four walls. Being able to learn the ins and outs is intriguing, and honestly it’s been a very humbling experience thus far. I still have no idea what I want to do, where I’ll end up, but for now I’m soaking it all in and enjoying being customer facing again! 🎉

💼 Hold on to your hats, folks. Arkhouse Management and Brigade Capital Management are diving headfirst into Macy’s with an offer of $24.80 per share, bringing the grand total to a whopping $6.9 billion. Sounds like Wall Street is gearing up for another round of the “big fish eats little fish” game, right? 🎭 If history is anything to go by, this move screams strategic overhaul. You know the drill: cut costs, restructure, and try squeezing every last drop from the good ole' Macy’s brand. But will Macy’s survive the baptism by fire or end up as another sacrificial lamb on the altar of corporate raiders? 💡 Here are a few wild predictions: - Massive Layoffs: You can bet that 'streamlining' will be the word of the day. Don't be surprised to see pink slips flying like confetti at a New Year’s Eve party. - Real Estate Fire Sale: Expect some Macy's real estate to go on the chopping block—probably turning into luxury condos or high-end offices because stores are soooo last decade. - Brand Revamp: Ned Ryerson's clothing line, anyone? On a serious note, get ready for brand adjustments aimed at modernizing and reigniting the Macy’s image. ⏳ Timing is everything, and Arkhouse & Brigade's gamble suggests they see hidden gold veins in an arguably sinking ship. It’s either phenomenal foresight or one hell of a high-stakes risk. 🔮 Regardless of the outcome, brace yourself for a shake-up. This acquisition could be Macy’s last gasp of air or the comeback story of the century. 🛑 What’s your take on this cloudy crystal ball moment? Should investors buckle up for a thrilling ride or jump ship while there's still time? https://lnkd.in/emdgfXDV

These last two weeks have been an emotional journey. I started my position as Store Manager with Rue21 only 5 1/2 months ago. When I came on I thought I had found a home. I had a strong Management Team and a great crew that helped drive a positive culture and an amazing experience for the guests. We had to overcome so many obstacles in that short time and we’re making our mark on the District. I had also taken on results for the District and was about to start bi-weekly CC’s around Credit Cards. I was settling in to make Rue21 my home. I had passed over opportunities because I was happy. I was being told there was nothing to worry about as far as store closings because that’s what my DM was being told. This is just another example of how, as a Store Manager in retail, we have to adapt quickly and make the most of truly unbelievable and dreadful situations, while leading with a positive attitude and mindset. We do this not only for us to move forward but for our team to be able to move forward. They rely on us to be the example and will follow our leadership as how they are to lead and serve guests. Myself and my team have been scrambling trying to find another place to call home while still giving 100% even though we will soon be out of jobs. This is not easy, especially considering the circumstances, but this is what we do. We adapt! I am worried for my team, myself, and my peers. It’s exhausting…. Emotionally, physically, and mentally, but this is what we do! Move forward! I trust in my faith that I will be ok. I have to. We will overcome and persevere! Please keep us all that have been devastated by the mishandling of Rue21 employees in your thoughts and prayers! We need it! ❤️🩹 #leadership #retail #management #adapt #openforwork #overcome #teamwork #mentor

How do you innovate and affect the lives of millions of people? Great question. #Listen. #Borrow. #Experiment. Such was the approach of Herbert Strauss in 1924. Strauss was the President of Macy's and it was the roaring 20’s. Times were good. They had just expanded their anchor store to an entire city block, over one million square feet. Such growth meant a lot of hiring and the majority of these hires were immigrants from Europe. Loving the sentiment of the #Thanksgiving holiday, these newcomers had embraced their new home and wanted to show pride in their new heritage. 𝗧𝗵𝗲𝘆 𝘄𝗮𝗻𝘁𝗲𝗱 𝗮 𝗽𝗮𝗿𝗮𝗱𝗲. Mr. Strauss was all ears. It turns out that Gimbels, a rival of sorts, was already hosting a parade in Philadelphia. Could Macy’s borrow that idea? Could Macy’s best that idea? Why not? How about allowing the employees to march in the parade? Perhaps borrow some animals from the Central Park Zoo? In fact, what about welcoming #SantaClaus at the end of the parade in Herald Square? That first parade was attended by over 250,000 people that saw floats of Mother Goose and Little Red Riding Hood. Those employees? They dressed as clowns, cowboys and knights while bears, elephants and monkeys joined in the procession that included four marching bands. Listen. Borrow. Experiment. #Innovate. #creativity #future #marketing

Celebrated two years at Square today. Figured I'd share eleven (11) essential things I've learned since joining: 1. Your team is everything. 2. Your team is everything. 3. Your team is everything. 4. Your team is everything. 5. Your team is everything. 6. Your team is everything. 7. Your team is everything. 8. Your team is everything. 9. Your team is everything. 10. Your team is everything. 11. Your team is everything.

Ever felt like your mistakes were just setbacks? Think again! They might be your golden tickets to success! Take R.H. Macy’s story, for instance. When he kicked off his first store in a less-than-ideal spot, it turned into a tumble. But here’s the twist: instead of giving up, he organized a parade, hoping to draw attention to his store. Unfortunately, a heat wave led it to flop, leading to bankruptcy. But here's where it gets inspiring: Macy didn't throw in the towel. He took those setbacks as lessons and pushed forward. Eventually, he established Macy's in downtown New York, and that marked a turning point. (New location, new beginnings ✅) His Thanksgiving parade? Well, it became an iconic celebration! (No heat waves on Thanksgiving! ✅) Mistakes don't mean the end; they're fuel for growth. Macy’s journey shouts loud that setbacks can be your stepping stones to triumph. So, embrace those mishaps, learn from them, and keep marching towards your goals! Macy's isn't just a successful brand; it's a testament to the power of resilience and learning from stumbles. Remember, even the biggest success stories have chapters of mistakes and comebacks. Your journey could be next! #leadership #inspiration #growthmindset #personaldevelopment #leadershipdevelopment

Macy's.... Interesting strategy the discussion that is circulating regarding Macy's downsizing, fewer stores, smaller stores, recent news regarding 2,500 layoffs....what happens after the downsizing and there are no longer assets to raise capital along with the costs associated with writing down the business? This translates to substantial additional layoffs as well. If the organization takes this as the only way out, the result is associates begin moving to other more stable organizations and you still have a circling of the drain proposition. It's another option, but not much looks positive here. Keep in mind their history as most of the posts out there are focused on the most recent activity, which is what Macy's hopes as they articulate how to fend off a very bleak future... * Macys filed for bankruptcy in 1992 * Acquired by Federated in 1994 * Federated was fined in an SEC investigation the equivalent of $24M in today's dollar for unfair collection practices. The SEC found credit customers were forced to sign agreements agreeing to repay balances in full without due process via bankruptcy. * In 2008 Moody's threatened to downgrade Macy's Group stores to junk, Federated laid off 2,550 folks and launched "My Macy's" a localization strategy for its stores. * In 2009 they laid off an additional 7,000 associates * In 2010 Macy's closed 52 stores and opened 12 * In 2014, Macy's is valued at $28B * In November of 2023, an outside consolidated financial group offered $5.8B for Macy's..... How soon we forget.........