Macy’s former CEO expects greater save closures ahead in 2021

Retail news

CNBC

more than 11,000 retail shops have closed in 2020 and former Macy’s CEO Terry Lundgren expects to look greater numbers of areas to do the equal in the new year. “We’re now not executed yet. … We’re going to be trained even more once we get through the break season,” he mentioned. “retailers who’ve a susceptible steadiness sheet today aren’t going to get relief in January. It’s going to get more challenging. When the volume of purchases drops dramatically after Christmas, the charges remain.”

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