Obamacare Will Cost Macy’s More, its CEO Says; Worker Health Now a Top Priority
Terry Lundgren, CEO and chairman of Macy's, said last week that that his company has benefited from the troubles at J.C. Penney Co. — though not as much as he'd like. "Yes, I think it's helped, a little," Lundgren said. "Listen, I was up just a billion-two ($1.2 billion) last year. What was Penney's down? Four billion down. So we're not getting our share. But I think the customer there is trading down. That's what I think is happening." Lundgren said, speaking before a gathering of business reporters.