Both events are symptoms of the weakness of department stores. J.C. Penney has notrecovered from the short but disruptive reign of Ron Johnson, who tried to break shoppersaddiction to price promotions but drove them away instead. He left in April. Saks is not abasket case . Richard Baker, the American propertytycoon who controls Hudsons Bay, has ambitious plans. But none involves new, full-sizedstores in America. Instead, there will be savings of C$100m a year, a push intoCanada and more discount outlets.

　　上述两个事件是百货公司疲软的征兆。彭尼还没从罗恩约翰逊短暂却充满破坏性的任职期恢复过来。当时罗恩试图停止价格促销，结果赶跑了消费者。他在四月离职。萨克斯百货也不是毫无是处。美国房地产大亨理查德贝克控制着哈德逊湾百货公司，他有雄伟的计划。但是计划中不包括在美国开设新的大型商店。取而代之的是，每年节省出1亿加元开发加拿大市场，提供更多折扣直销。

　　The humbling of department stores began in the 1960s. First specialised retailers, theirshopping-mall neighbours, stole sales, as did discounters. Then came category killers,which laid claim to electronics and toys, for example, followed by online-only retailers, thecurrent menace. Americas biggest department-store group, Sears Holdings, is one of itssickest. J.C. Penneys customers defected not to rival stores but to discounters like T.J.Maxx.

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