We often throw around situations that mark the apocalypse – you know; when pigs fly, when hell freezes over, when Jon and Kate get back together…Well, it seems like the seemingly impossible might have happened.
It certainly is not news that the economy has affected some of the largest, strongest companies across nearly every industry, especially retail, but for some time it seemed as if the worst had come.
Companies like Macy’s will now have to adjust to lower household incomes and for dips in household spending, which is expected to fall to 65-70 percent.
Other companies named likely to be at risk include Hertz, Goodyear, Sprint, and CBS. We hope the best for Macy’s, but $2.4 billion of maturing debt over the next five years will be very hard to overcome.