Where Will Macy's Be in 5 Years?
Macy's (NYSE: M) is fighting a respectable fight in challenging circumstances. Even before the pandemic, the nation's largest department store chain (by revenue) was willing to make tough decisions like selling real estate and closing stores, even if that meant adding new rental costs and curbing revenue. Macy's has continued to leverage its real estate portfolio since the COVID-19 contagion took hold. If it can just buy enough time, it might figure out how to compete with powerful e-commerce competitors like Amazon (NASDAQ: AMZN) and overcome the pandemic's impact.
Most investors, however, seem to see the writing on the wall. Macy's as we know and love it today likely won't be around five years from now in its current form.
The company describes itself as America's department store -- and for good reason. It's been a big part of the country's culture for decades. The name itself will likely live on.
Source Fool.com