Terry Lundgren: ‘Stores Are the New Black’

Terry Lundgren, CEO of Macy’s, borrowed this quote during his opening remarks at the University of Arizona Global Retailing Conference in Tucson, Ariz. back in April, attributing it to NYU-Stern Marketing Professor Scott Galloway, who also happens to be one of the world’s experts in digital marketing. Calling stores “the new black” is a nod to that old-fashioned expression referring to something that’s come into style. Simply said, it means stores are not only not going to be replaced by e-commerce, but they will thrive as the “in vogue” standard bearer for retailing.