Retail

Macy’s CEO, department store veteran, fights the Amazon future

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The entrances at Macy’s are decorated with Christmas decorations on December 04, 2020 in New York City.

Roy Rochlin | Getty Images Entertainment | Getty Images

As Macy’s prepares to release its third quarter earnings on Nov. 18 ahead of retail’s biggest season, the most pressing in the litany of investor questions will be: Has Macy’s ability to build a dot-com business inside of a legacy brick-and-mortar foundation reached its limit?

Macy’s, which has said its digital sales will hit $10 billion in 2023, up from $7.6 billion in 2020, will likely say no. But given that Macy’s dotcom sales have been outpacing same-store revenues for years — and that the company operates 788 stores across its…



Source cnbc.com

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