Macy’s bought the retailer Story then closed Story’s flagship location. Hmm. The flagship’s door sign (shown here at 10th Ave. and 19th st. in NYC) says Story has 35 other locations. Notably, those are all inside other Macy’s. Aka: Macy’s likely bought Story to rearrange and/or fill excess space at its other mall locations. Apparently, Story wasn’t appealing enough to have two locations in NYC—which is not a good sign. I predict Macy’s purchase of Story was inflated, and likely a mistake. I predict it will write down the yet to be announced purchase price for this gimmick. ...Macy’s may have even been better off purchasing a coffee shop brand or dry cleaning chain.
I believe Macy’s should be buying tech and software companies and not more retail players. Amazon nor any other smart player would’ve bought Story.