Terry J. Lundgren, the chief executive of Macy's, strode through the women's shoe department of the company's flagship store in Manhattan's Herald Square, determined to find a bargain. With the lean build of an athlete and the immaculately coifed gray hair of a television anchor, Mr. Lundgren cased the floor and dashed over to a display table of classic shoes, aimed at women in office jobs. "Look at this great-looking boot for $69!" he exclaimed, holding out an unadorned black boot with a low heel.
Terry J. Lundgren
Macy's is launching a large number of omnichannel strategies and technologies encompassing stores, online and mobile. In addition to supporting the new Apple Pay mobile payment system, the department store retailer's new moves include piloting same-day delivery, testing new point-of-sale technology and customer service enhancements, and expanding its use of RFID to fashion categories. "Our goal remains to help our customers shop whenever, wherever and however they prefer, and to use the entire inventory of the company to satisfy demand," said Terry J. Lundgren, chairman and CEO, Macy's.
Macy's announced on Monday that its chief merchandising officer, Jeffrey Gennette, would become the company's new president, a promotion that may put him next in line to become chief executive. Until Monday, Terry J. Lundgren, Macy's chief executive, held the title of president, as well. "I'm O.K. with going down to three titles," Mr. Lundgren said. "As of yesterday, I was chairman, president, CEO and, most importantly, chief customer officer of the company." Gennette, 52, has held several positions at Macy's in different parts of the country. He's been chief merchandising officer since 2009.
Terry J. Lundgren weathered a 21.6 percent drop in total compensation last year — and saw the cash portion of it drop by nearly half — as Macy’s Inc. fell short of its target for...
How retailers are educating staff, customers to drive cheese sales. » Read more: Kitchenware retailer relocates to larger space in Madison, Wis. » Read more: Who Needs the Web? Mobile devices are changing shopping. Here's how to be ready. » Read more: Top Stories » Headlines » Retailing Aug 09, 2012 Same-store sales at Macy’s Inc. are up 3 percent vs. last year, according to the department store operator’s quarterly earning report. Sales in the second quarter totaled $6.118 billion, up 3 percent from total sales of $5.939 billion in the second quarter of 2011. On
Macy's will start selling some of its private brand merchandise directly to shoppers in China through a deal with an online retailer there. Macy's products will be available via a branded section on Omei.com, a newly established China-based online retailer of in-season luxury and fashion brands operated by VIPStore Co., a Chinese e-commerce firm and parent company of Omei.com. In addition, Macy’s has made an equity investment of $15 million in VIPStore. Macy’s joins other venture capital providers, including Intel Capital, in acquiring a minority stake in the company.