Department store chain Macy's (NYSE: M) was in a fight for survival even before the coronavirus contagion took hold. The pandemic's hit to the overall economy may well deliver the knockout punch.
That's not to say that Macy's name won't live on one way or another. Indeed, the moniker itself has monetary value, holding a cache with plenty of consumers. This is not to suggest any impending doom will immediately take hold. The company continues to put up a good fight, maneuvering to withstand the nasty headwinds.
On balance, however, the task ahead is just too great for investors to take a shot on a turnaround. Macy's as we know it today likely won't survive what happens once COVID-19 is in the rearview mirror.
Source Fool.com