Wednesday, May 11, 2016
No One Can Compete With Globalization
The only retailer still "growing" has negligible profits. The rest of the sector is getting annihilated...
Following yesterday's Gap 'n Crap, this just in:
"Macy's reported first-quarter sales fell 7.4% year over year to $5.77 billion, missing forecasts for $5.94 billion. Same-store sales declined for the fifth straight quarter, falling 5.6% "
"Watchmaker Fossil, a key supplier to Macy's and other department stores, also had a dreary first quarter. Fossil's shares cratered 33% in pre-market trading Wednesday as its revenue fell 9% year over year"
Posted by Mac10 at 6:39 AM