15 February 2019

Macy’s rethinks China plans, WSJ says

Macy’s Inc. has shelved an online-expansion plan in China, the latest retailer to do so as economic growth slows in the world’s second largest economy, the Wall Street Journal reported Sunday. The company had planned to begin online sales of a private-label brand in the spring after buying a minority stake last year in Chinese retail company VIPStore Co. Macy’s, one of the largest US-based department store operators, has put those plans on hold because it needs to learn more about Chinese shoppers, Macy’s spokesman Jim Sluzewski was quoted as saying.

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