Terry Lundgren, CEO and Chairman of the Board, retired, of Macy’s shared a fascinating history lesson of disruption within the retailing industry from the late 1980s through 2017. He chronicles six distinct eras. These eras are of the leveraged buyout, consolidation, dot-gone, reflection, mistrust and imbalance. He notes that these eras require companies to be thoughtful about the future and prepared to react to the unknown changes in the world. His words and advice – in 2019 – foreshadow the drastic changes in the industry in 2020 due to the coronavirus.