This is very unfortunate for the workers at these stores who'll be facing layoffs, just as it's disappointing to see our President-elect gloating about a company's poor market performance and the loss of jobs associated therewith. However, I'm quite glad, on principle, to see another chain store bite the dust. Although I doubt this is due to competition from a growth of local retailers, but rather the changing dynamic of the retail market which is reorienting itself to a growth in online purchases.
No, I'm not. Read my post again. I specifically said that I'm disappointed that the demise of Macy's is not due to the growth of local stores, but rather online retailers. But, I'm also glad to see Macy's fall on the principle of seeing chain stores decline. Just because I'm glad to see Macy's demise, doesn't mean I'm celebrating its replacement by an even more monopolistic force. I'd like to see an enormous growth of online retail competition and the decline of Amazon as well.
