The CEO of May Department Stores has stepped down after four years of steadily declining sales. Well, at least he was consistent.
Some analysts believe that the company's stores are in a bad position -- occupying an ill-defined middle lane between discount chains and luxury retailers. Is retailing becoming as polarized as politics? I tend to doubt it since May's chief competition Federated actually posted better same-store sales over the holidays. My crackpot theory: May's Lord & Talyor might be selling crap. But it's just a theory.