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Moody’s Projected a 5% Dip in Department Stores’ Operating Income. The New Outlook is Far Worse.

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The retail world is not a good place to be, especially for department stores and apparel and footwear retailers. Operating profits for sector aren’t expected to return to pre-COVID-19 levels until 2022 at the earliest, according to credit analysts at ratings firm Moody’s Investors Service. “Our industry outlook remains negative because we still face two…

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