Macy’s has decided to close 150 underperforming stores to avoid a takeover and hedge its bets on high-end luxury. I am calling it here: high-end will not end well. Perhaps the middle class has shrunk, and what Macy’s calls luxury is questionable here, but we will soon find out what that means.

At the end of the 1980s, Macy’s bet on high-end luxury when they began to lose market share from the Gap and the Limited. It did not work well, considering most customers walking in the door were not looking for Balmain or Prada but a one-day sale or well-priced items for everyday wear.

What is worth noting is that in Europe, Department stores prevail. Why can’t they figure that out in the US? Is it because the singular brand stores compete with the department stores’ inventory? Is it the lack of originality from curation to customer interaction or store salespeople?

I have been espousing the end of department stores for a long time. Perhaps this is it? The department stores in the US have become dinosaurs. Sad but true.