Aug
14
Wall Street’s Patience With Retailers’ Turnaround Efforts Runs Thin
ByThe last time Macy’s increased its sales, Donald J. Trump had not started running for president and the Chicago Cubs still had not won a World Series in more than a century.
For more than two years — 10 consecutive quarters, to be exact — that storied retailer has reported declining sales.
Traditional department stores like Macy’s have been trying to reinvent themselves, shedding stores and expanding their e-commerce operations to try to compete with Amazon and other online retailers. But this week, Wall Street’s patience with such turnaround efforts wore thin, amid a string of unsettling earning reports by brick-and-mortar retailers…
Wall Street’s Patience With Retailers’ Turnaround Efforts Runs Thin
