Strong Economy Can’t Save Macy’s From Retail Shifts
By Sarah Nassauer | Updated Jan. 10, 2019 7:01 p.m. ET
Macy’s Inc. and other mall-based retailers said sales petered out at the end of the year as they continued to lose customers to discounters and e-commerce, highlighting how not all chains are positioned to benefit from a strong U.S. economy.
The year-end results—and a weak profit outlook from Macy’s—clouded what have been upbeat expectations for the holiday sales season with consumers showing a hearty willingness to spend.
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