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Wall Street's patience runs thin with retailers

Traditional department stores like Macy's have been trying to reinvent themselves

Michael Corkery | NYT 

The last time Macy’s increased its sales, Donald J Trump had not started running for president and the Chicago Cubs still had not won a World Series in more than a century. For more than two years — 10 consecutive quarters, to be exact — that storied retailer has reported declining sales. Traditional department stores like Macy’s have been trying to reinvent themselves, shedding stores and expanding their e-commerce operations to try to compete with Amazon and other online retailers. But this week, Wall Street’s patience with such turnaround efforts wore thin, ...

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First Published: Sat, August 12 2017. 20:49 IST