Department-store strategies to avoid dinosaur status

09/26/2008 | CNNMoney/Fortune

Macy's is thinking of establishing a club-like atmosphere in the basement of its flagship New York store in hopes of appealing to younger shoppers. Specialty retailers like Urban Outfitters and Abercrombie & Fitch have been cutting into department-store sales for years, but going after the teen market is risky: Gap has been in a tailspin since it tried to lure the kids and sacrificed its core.

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