It’s the tale of ten months. Once upon a pandemic time, retailers made bets against business casual clothing and any other retail category for anyone who lived a life outside one’s home. These retailers went all in on athleisures, home improvement, at-home fitness, and in-home textiles. They placed orders for goods with the expectation of a pandemic-led behavior that would last far longer than it has. The fallout is simple: the products finally arrived and now few consumers need them. According to the latest at the Wall Street Journal, Macy’s represents a class of mass retailer suffering from incorrect bets and an unbelievable set of circumstances.
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