Macy’s CEO, A Department Store Veteran, Fights To Fit In The Amazon Future Of Retail

As Macy’s prepares to release its third quarter earnings on Nov. 18 ahead of retail’s biggest season, the most pressing in the litany of investor questions will be: Has Macy’s ability to build a dot-com business inside of a legacy brick-and-mortar foundation reached its limit? Macy’s, which has said its digital sales will hit $10 billion in 2023, up from $7.6 billion in 2020, will likely say no. But given that Macy’s dotcom sales have been outpacing same-store revenues for years — and that the company operates 788 stores across its portfolio — begs another question: Is Macy’s current management team, led by the “quintessential department store executive,” as one retail investor recently characterized Macy’s CEO Jeff Gennette, the best choice for leading the nation’s largest legacy department store into the new era of retail that is increasingly sophisticated, digital and dominated by digitally-native competitors like Amazon? Read more at CNBC.