Macy's Brass Sees Incentive Bonuses Cut

Macy’s Inc., the largest U.S. department-store company, cut its executives’ incentive bonuses to zero after missing revenue and expense targets in 2015. The board decided to award no bonuses after falling short of its sales, cash flow and earnings goals, Macy’s said Wednesday in a regulatory filing. Excluding changes in the value of his pension, Chief Executive Officer Terry Lundgren was paid $11.6 million in 2015, an 8.6 percent decrease from the $12.7 million he received in 2014.