Macy's CEO Lundgren: Seeing Continuous Improvement

The transcript discusses Macy's quarterly earnings, highlighting continuous improvement due to strategic initiatives like increased staffing and focus on the denim business. It explains the decision to close 100 stores based on market analysis and the shift towards online sales. Macy's competitive position against Amazon is addressed, emphasizing their strong internet sales growth and omnichannel presence. The real estate strategy is also covered, with plans to monetize assets and reinvest in the business.

What was one of the key initiatives Macy's took to improve their quarterly performance?

• Investing in additional staffing and management

• Reducing the number of employees

• Closing underperforming stores

• Cutting down on marketing expenses

Why is Macy's planning to close 100 stores?

• Due to a decrease in customer demand

• To expand their international presence

• To focus solely on online sales

• To optimize resources and address over-saturation of retail space

What is the expected outcome of Macy's store closures?

• Expansion into new markets

• Increased number of employees

• Improved return on invested capital

• Decreased online sales

How does Macy's online business compare to Amazon?

• Macy's has more products than Amazon

• Macy's lacks fulfillment technology

• Macy's competes favorably with similar fulfillment systems

• Macy's offers slower delivery times

What percentage of goods in Macy's categories were sold in brick-and-mortar stores in 2015?

• 50%

• 70%

• 100%

• 90%

What is a significant advantage Macy's has over purely online retailers?

• Lower prices

• More diverse product range

• Physical stores for customer shopping

• Faster delivery times

What is Macy's approach to their real estate strategy?

• Ignoring real estate opportunities

• Selling all real estate assets immediately

• Increasing company leverage

• Monetizing assets without increasing leverage