Why doesn’t it surprise me that Macy’s found itself on the list of five American companies that fared worst in the pandemic? This is especially interesting to me:
Digital sales “penetrated” at 38% of comparable store sales, which means physical store sales must have been dismal. While that number seems strong, it’s not nearly enough to cover Macy’s retreat. Macy’s needs to win online, given the level of competition it faces in both e-commerce and brick-and-mortar retail. It has done neither.
(Excerpt from the article https://247wallst.com/business/2020/12/08/americas-5-worst-run-companies-of-2020/)
I wonder if they have a vision with digital sales at all, it is obvious that improvements need to be made there?