These big stores have been on the ropes for years now with on line shopping competition. Many store, High overhead vs none. Excuse for these big stores to start shedding most of their weight
It’s not an excuse to shed weight. I was working for a growing portion of Macy’s and we were doing quite well thank you. Its about cash flow, retail operates on free cash flow plain and simple, without it they have to stop. There has been contraction in retail for sure, but it is far from finished. People love to shop and experience goods first hand.