Market Overview

Macy's, Not Amazon, is Responsible For Its Own Failures

Macy's, Not Amazon, is Responsible For Its Own Failures

Macy's Inc (NYSE: M)'s stock is flirting with its 52-week lows, and most investors might understand why: The department store is too bloated, under-monetized in terms of real estate and getting crushed by, Inc. (NASDAQ: AMZN), right?

Not so fast, at least according to Recode's Jason Del Rey.

According to Del Rey, Macy's is solely responsible for its own woes. Simply put, if it wasn't Amazon stealing market share away from Macy's, someone else would have.

Del Rey recounted a visit to a Macy's store in Paramus, New Jersey, which was messy and felt like a "visit to a teenager's bedroom." Even if their store were clean, the selection was poor, with an assortment that could be found at other department stores, retailers and even online from the brands' own websites.

Needless to say, Macy's market cap has plummeted from its peak of $24 billion in 2006 to around $9 billion today. Over the same period, Macy's stores "have looked and felt the same."

And what is in store for Macy's in the future? Perhaps more of the same. Instead of looking outside for a CEO to replace the outgoing CEO Terry Lundgren, Macy's tapped its longing president Jeffrey Gennette to take over.

"Wish him luck," Del Rey concluded.

Posted-In: Analyst Color Topics Management Analyst Ratings Tech Media General Real Estate Best of Benzinga


Related Articles (AMZN + M)

View Comments and Join the Discussion!

Latest Ratings

ADBECleveland ResearchInitiates Coverage On283.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Fiat Chrysler Accused Of Allowing Excess Diesel Emissions In 100,000 Vehicles

The Most Frequent Mistakes That Lead Traders To Ruin