Wednesday, February 19, 2020

Macy's downgraded as 'Polaris' turnaround begins

Retail Dive
S&P Global on Tuesday downgraded Macy's long-term credit rating to BB+ from BBB- and its short-term rating to B from A-3, according to an emailed press release.

These downgrades signal the pressure that Macy's is under to find new life amid the ruins of a department store sector that for decades now has seen its market share dwindle and its customers flee.. . . more