| The department stores that helped define the U.S. retail market are in danger of disappearing from the scene. Companies like Lord & Taylor that once thrived on innovation are joining an increasingly crowded lineup of bankrupt store owners, and the WSJ’s Suzanne Kapner writes that veteran retail executives believe it will take a radical rethinking of how stores operate and relate to shoppers to salvage the dinosaurs of the sales business. A new look at operations could include using their big real estate holdings in different ways, including a larger role for the stores in fulfilling orders. And former Saks Inc. CEO Stephen Sadove says they may need to reset their relationships with suppliers with a hybrid wholesale-retail model popularized in Europe by stores such as Galeries Lafayette. Some brands would control the merchandise, removing risk for the retailer, which could focus on managing space and employees. |
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Operations and Supply Chain Management 