Decade of Store Closings Coming for Retail: Snyder

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Jan. 9 (Bloomberg) -- Rick Snyder, retail analyst at Maxim Group, discusses job cuts at Macy’s and the future of retail stores on Bloomberg Television’s “Bloomberg Surveillance.”

Opening stores.

Will we see more of this?

We will see more closings over the next decade.

I think we are already over stored.

Online sales or because much easier.

The question is, is it going to affect everybody equally or is it going to affect some more than others?

My bet is that it will affect some more than others.

Consumers on the low-end are less apt to use the internet sales.

We're going to see a rationalization on the lower end.

Does this cut back and macy's, which did well over the holiday season, indicate that tech is making up the bulk of the new business?

Anybody who has not cut up a map rent is in trouble?

And macy's case, that is true.

They have pioneered something that has been revolutionary.

It sounds very simple.

They have integrated online sales and inventory with their store sales.

They have started using their stores as distribution centers.

What they have found is that the increased inventory in smaller stores actually helped sales at the brick-and-mortar stores.

The distinction is that they are cutting 2000 jobs.

Their opening five other stores.

They're closing five and opening eight.

Human better.

-- even better.

The number of jobs is 175,000. they are putting more labor online.

Is it easier to do this from a position of strength than from a position of weakness?

I think it is more to do with a position of macy's making an investment over the last three or four years.

They are now in a position of strength.

One of the things about internet sales, i think i will trigger in order here.

It is called cyber real estate.

That is top of the mind.

We find that mall traffic is going down.

Conversion and stores going up.

People are looking online and then they're going to the store.

Then, you're going to go to that place where you have top-of-the-line.

I have a hold.

Hold on macy's. let's get the company news.

Here is scarlet fu.

We have a battle.

They will battle for the asset of alcon in court.

They're accused of buying up the debt of a satellite services provider.

Samsung will roll out its next galaxy smartphone by april.

The s5 will debut with a new wearable device.

They're trying to compete with apple's iphone.

The new galaxy will mostly be have a different design than the s4. digging with samsung, they have agreed to retain a mediator to handle their patent issue.

This text has been automatically generated. It may not be 100% accurate.


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