Amazon.com (NASDAQ: AMZN) may look like the biggest threat to retail today, and the rise of e-commerce has certainly destroyed many once-healthy companies, but Macy’s (NYSE: M) discounts the notion that the e-tailer is responsible for its woes, blaming instead off-price outlets like T.J. Maxx as undermining its operations.
Macy’s CFO Karen Hoguet recently told analysts at the UBS Consumer & Retail Conference: