Terry Lundgren
Terry Lundgren
Terrence James Lundgren is an American department store executive and is the CEO, Chairman of the Board, President, and Director at Macy's, Inc., the parent company of Macy's and Bloomingdale's department stores...
benefit both company former included performance quarter related tax
The quarter included stronger-than-expected performance in both the Federated and former May Company divisions, as well as a benefit from a tax settlement and related adjustments.
additional businesses consistent customers expand fashion growth improving invest maintain online past performed presence rates recognize sales serious serve several shop store type
Our online businesses have performed very well over the past several years, with consistent double-digit sales growth rates and improving profitability. To maintain the momentum, we recognize we need to invest to better serve additional customers who want to shop online for the type of fashion merchandise we sell, especially as Macy's and Bloomingdale's expand their store presence nationwide. We are very serious about capitalizing on this opportunity.
customers delivering focused holiday results selling serving short
In the short term, we are focused on serving customers and delivering results through the holiday selling season.
acquired announcing begin career company decisions discussing employees ensuring includes planning possible potential soon specific stores within
By announcing these decisions now, we can begin more specific planning for the future. This includes discussing potential career opportunities within Federated for May Company employees and ensuring new merchandise assortments are in place as soon as possible in stores acquired from May.
both customers improved joining means offer pricing retail together value
For the customers of both companies, joining together means we will be better able to offer value and an improved retail experience, from better assortments and merchandise selections to more competitive pricing and service,
larger marshall
That's substantially larger than Marshall Field's is in total.
best business continuing learn meeting possible
We will be meeting with the May Co. organization and continuing to learn more about its business so we can make the best possible long-term decisions,
both brands known retailing
No doubt, these are both very well known retailing brands to the consumer.
business continued customers millions online opportunity progress represent sales serve
Online sales represent the fastest-growing part of our business and an outstanding opportunity for continued progress as we serve millions of new customers nationwide through our acquisition of May Co..
believe broad excellent expand extend four locations newness presence represent southern synonymous
We believe all four of these locations represent excellent opportunities to extend and expand the Bloomingdale's brand, which is synonymous with contemporary fashion, newness and a broad assortment of upscale merchandise, ... We will be intensifying Bloomingdale's presence in Boston, Washington, D.C., and southern California.