When they are on top and when things are going well, people never think that something could ruin their plans and that they could very easily find themselves at the bottom. Precisely out of that arrogance and conceit, they do not prepare for situations that could turn things around.
So did Macy’s top dogs. I guess they thought that there would never be a paradigm shift in retail and that the business would continue to go its course without much effort.
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I'm surprised Macy's hung this long in there.