Macy's

Macy's Announces Store Closures, Job Cuts as Part of 3-Year Growth Plan
February 5, 2020 at 12:21 pm

Macy's announced Tuesday a new three-year growth strategy that includes plans to close 125 of its least productive stores and cut 2,000 corporate positions among other changes, reports CNBC. The retailer is closing its San Francisco, downtown Cincinnati and Lorain, OH offices, consolidating headquarters to its New York City location. The turnaround plan, dubbed the Polaris strategy,…

Macy's to Close 29 Stores Following Holiday Sales Drop
January 8, 2020 at 2:49 pm

Macy's announced Wednesday its plans to close 29 stores in the coming weeks, reports The Washington Post. The closures include 28 Macy's department stores and one Bloomingdale's location, following a reported 0.6 percent decline in same-store sales during the holiday season. That compares with the 1.1 percent growth recorded during November and December last year. Macy's…

Macy’s President is Stepping Down to Become CEO of Tractor Supply Company
December 5, 2019 at 11:53 am

Macy's announced today that its president, Hal Lawton, is resigning and joining Tractor Supply Company as its new CEO, CNBC reported. Lawton will be succeeding Greg Sandfort, effective Jan. 13, and will also be sitting on Tractor Supply's board of directors. Before joining Macy’s in 2017, Lawton was a senior vice president of North America…

Findings, Trends From the 2019 Top 100 Omnichannel Retailers Report
April 26, 2019 at 12:57 pm

In this week's Retail Right Now, Joe Keenan and Kristina Stidham discuss Total Retail's 2019 Top 100 Omnichannel Retailers report. They discuss key findings to emerge from the report, as well as identify the omnichannel trends gathered from the data. This report is the third annual ranking of 100 publicly traded retailers based on their…

Report: Foot Locker to Shutter More Than 100 Stores
March 5, 2018 at 1:08 pm

Foot Locker is the latest retailer to reduce its store count in an effort to cut costs, according to a March 2 Business Insider report. More specifically, the retailer plans to close approximately 110 stores this year, mostly those that are considered underperforming locations. This latest round of store closures augments the 147 stores that Foot Locker closed…

Pizza at Urban Outfitters? Tacos at Tommy Bahama? How Retailers Can Rethink the In-Store Experience
September 19, 2016 at 8:00 am

Traditional retailers are struggling. In the spring of 2016 alone, we saw Sports Authority declare bankruptcy, Aeropostale lose 93 percent of its share price before declaring insolvency, and sales at Kohl's drop. Even as recently as August 11, Macy’s announced it will close another 100 stores. There's little doubt that competition from online retailers has…

Why We Dropped Trump's Menswear Line: Macy's CEO
August 14, 2015 at 9:09 pm

Macy's chief Terry Lundgren said Wednesday it was a business decision to end the retailer's 11-year menswear collection partnership with Donald Trump. Trump stirred a storm of criticism by making disparaging remarks about Mexican immigrants when he announced his bid for the GOP presidential nomination in June. Refusing to comment on what Trump said, Lundgren…

Macy's to Set up China Online Store on Alibaba's Tmall Global
August 13, 2015 at 1:23 pm

Alibaba Group Holding Ltd said it signed an agreement with the Chinese joint venture of Macy's to set up the U.S. retailer's store on its online marketplace, Tmall Global. The deal makes Macy's the first U.S. department store chain to join Tmall Global, Alibaba said on Wednesday. Alibaba and its newer rival JD.com have been…

Retailers Demand Jet.com Remove Links
August 10, 2015 at 2:45 pm

Dozens of the nation’s largest retailers including Macy’s, Amazon.com and Home Depot have quickly moved to disassociate themselves from new discount retail website Jet.com. The retailers complained to Jet after discovering it had placed links to their sites without permission, promising its own members cash back for making purchases after clicking the links. A comparison of Jet’s…

Customers Call on Macy's to Fire Donald Trump
June 30, 2015 at 2:03 pm

Nearly 700,000 people have signed a petition calling on Macy's to fire Donald Trump. NBC cut ties with Trump for calling Mexican immigrants rapists and drug runners. Those comments stemmed from a speech in which he announced his intention to run for president. Now, some consumers argue Macy's should follow suit and dump the businessman.…