Time For Department Stores To Get Back To Basics?

A financial report on the troubles found last year with major department stores places the blame for the revenue drop not on the economy but on chains that are "increasingly out of touch." As detailed in this comprehensive Media Post story, the Cavallino Capital report found that only 6 percent of consumers did most of their shopping in stores like Macy's, JC Penney or Dillard's this year, compared with 15 percent in 2000.

"The problem is that these stores have relied too heavily on the things shoppers care least about, like coupons, loyalty programs, delayed payments and contests," said Cavallino Chairman John Rittenhouse. "And they've neglected the basic rules, the things consumers say always matter, like having the merchandise they expect in stock, having helpful people staffing the store and a customer-friendly return policy."