Macy’s Might Not be Closing Stores ‘Fast Enough’

In The Daily Scoop by Lauren Parker, Accessories MagazineLeave a Comment

Morgan Stanley analysts suggested Macy’s might need to quicken the pace of its store closures and downgraded their estimates for the department store retailer’s stock, which since September has outperformed the average for sellers of softline goods. “While Macy’s has proactively closed stores, ongoing negative store-only comps lead us to question if it is closing them fast enough,” the analysts wrote in a wide-ranging report on the return on retailers’ capital spending. Read more at Retail Dive