Warren Buffett perfectly describes why the retail apocalypse is dooming Macy's, Sears, and JCPenney (M, SHLD, JCP) [The Business Insider]
Macy's Inc (M)
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Source: The Business Insider
Warren Buffett perfectly describes why the retail apocalypse is dooming Macy's, Sears, and JCPenney Business Insider Retailers like Macy's and Sears are struggling to stay alive, as stores close and sales slump. And, a single overarching mistake is the root of all their problems. In "The Essays of Warren Buffett: Lessons for Corporate America," the Berkshire Hathaway CEO lays out a problem that plagues many businesses: prioritizing short-term goals over long-term success. Warren Buffett Paul Morigi / Stringer / Getty Images "If management makes bad decisions in order to hit short-term earnings targets, and consequently gets behind the eight-ball in terms of costs, customer satisfaction or brand strength, no amount of subsequent brilliance will overcome the damage has been inflicted," Buffett writes. In the early 2000s, as e-commerce competition was on the rise, many retailers failed to build up their e-commerce business, instead choosing to focus on the short-term and drive
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News
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- Macy's Inc. Taps Abigail James as Chief DEI Officer [Yahoo! Finance]Yahoo! Finance
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M
Earnings
- 2/27/24 - Beat
M
Sec Filings
- 4/19/24 - Form 3
- 4/19/24 - Form 3
- 4/19/24 - Form 3
- M's page on the SEC website