Trade war and coronavirus show retail supply chains are too dependent on china, ex-macy’s ceo says

The trade war and coronavirus outbreak helped demonstrate that retail supply chains have become too reliant on China, former CEO Terry Lundgren told CNBC on Wednesday. “The answer is yes. It is too much,” Lundgren said on “Closing Bell.” Lundgren, who retired from the Macy’s board in January 2018, noted different categories of the retail industry face varied levels of exposure. For example, the beauty industry is less exposed than footwear, which is “greatly” impacted by any supply chain issues in China, he said. Read more at CNBC.