The retailer needs to reverse declining sales and trends or face extinction.
The debt watchdog said department stores are going to have to prove their business model works.
The resale brand hopes to convert consumers to more sustainable habits.
It centers around Hallmark’s “Christmas at Dollywood” film, and comes in stride with the retailer announcing a new chief digital officer.
The Minneapolis-based retailer was able to drive up traffic in its stores and online.
Jill Soltau, its chief executive officer, said she is beginning to see results from her turnaround plan.
The former Apple and J.C. Penney executive is building a company that straddles the online and physical worlds.
The traditional retail veteran said she was attracted to the start-up’s innovative business model — and the growing resale market.
Consumers will vote on whether secondhand apparel adds value to Macy’s and J.C. Penney, among others, with their wallets.