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Macy’s may not be closing stores ‘fast enough’

May 11, 2018

The Morgan Stanley team, led by analysts Simeon Gutman and Kimberly Greenberger, are the latest to question the long-term performance potential for some traditional retailers.

In a report earlier this week, Deutsche Bank analysts wrote that department stores may already be overvalued by investors, given that the “fundamental upside is limited” for the sector. They pointed out that mall-based retailers and department stores remain “structurally challenged” given the expansion of e-commerce, the growth of off-price retail, and shifts in consumer spending to restaurants and other experience-based services.

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