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Newspeopleretailers

Macy’s, Inc. Announces Leadership Succession Plan

by Katie Lee

New York City — Macy’s, Inc.’s chairman and chief executive officer, Jeff Gennette, plans to retire in February 2024 after serving the company for 40 years. Tony Spring, Macy’s executive vice president and Bloomingdale’s chairman and CEO, has been appointed by the board of directors as the company’s next president and CEO-elect, and a member of the board of directors. As president, Spring will be responsible for leading Macy’s, Inc.’s digital, customer, merchandising and brand teams, while overseeing Bloomingdale’s and bluemercury. As a part of the leadership transition, Macy’s chief …

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Macy’s Proposes Overhaul of Herald Square Store in Manhattan

by Katie Lee

New York City — Macy’s Inc. has unveiled plans to overhaul its flagship Herald Square store at the corner of 34th Street and Seventh Avenue in Midtown Manhattan. The plan would add a commercial office tower atop the store. The size and design features of the office component were not disclosed. The plan includes a private investment totaling $235 million by Macy’s that would modernize the public spaces around the flagship store, including upgraded subway access, improved transit connections and pedestrian-friendly and car-free streetscapes at Broadway Plaza and Herald Square. …

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Newspeopleretailers

Macy’s Makes Changes to Senior Leadership Team

by Katie Lee

New York City — Macy’s, Inc. plans some changes to its senior leadership team. Aligned with the company’s recently updated Polaris growth strategy, these changes to increase agility and efficiencies include: John Harper, chief operations officer, will depart on August 1, 2021. Subsequently, the role of chief operations officer will be eliminated. With the elimination of the COO role, Marc Mastronardi, chief stores officer, and Dennis Mullahy, chief supply chain officer, will report to Jeff Gennette, chairman and chief executive officer. Laura Miller has been appointed chief information officer, effective …

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Newspeopleretailers

Macy’s, Inc. Announces CFO Transition

by Katie Lee

New York City — Macy’s, Inc. has announced that Paula Price, executive vice president and chief financial officer, has made the decision to leave the company as of May 31, 2020. She will continue in her current role until that date, and in order to support a well-ordered transition, Price will remain an advisor to the company through November 2020. An external search is underway for Price’s replacement. “I want to thank Paula for her leadership and contribution to Macy’s, Inc. She has built a strong finance leadership team, and …

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Macy’s, Inc. Temporarily Closes Stores Nationwide

by Katie Lee

New York City — In response to the widespread COVID-19 outbreak, Macy’s, Inc. temporarily closed all stores on March 17, 2020, and will remain closed through March 31, 2020. This includes all Macy’s, Bloomingdale’s, Bluemercury, Macy’s Backstage, Bloomingdales the Outlet and Market by Macy’s stores. Macy’s, Inc. will provide benefits and compensation to its impacted workforce. “The health and safety of our customers, colleagues and communities is our utmost priority. As a result of the recent COVID-19 developments, we have decided to temporarily close our stores. We will work with …

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Newspeopleretailers

Macy’s to Close 125 Stores; Plans Smaller Off-Mall Format

by Katie Lee

New York City — Macy’s, Inc. plans to optimize its portfolio by continuing to grow stores in the best malls, but close approximately 125 stores in lower tier malls within 3 years. The department store also plans to explore new smaller, off-mall formats. Macy’s will also establish a single corporate headquarters and relocate its digital business to New York City. This updated strategy and 3-year plan is designed to stabilize profitability and position the company for growth. “We have a clear vision of where Macy’s, Inc. and our brands, Macy’s, …

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Newspeopleretailers

Macy’s President Steps Down

by Katie Lee

Cincinnati — Macy’s, Inc. has announced that Hal Lawton, president of the Macy’s brand business, has resigned, effective December 6, 2019. He joined Macy’s as president in September 2017. “Hal has made significant contributions to the business over the past 2 years, including improving the Macy’s operational cadence. Hal also helped us build an excellent team and, with their leadership, I’m confident that Macy’s will continue strong execution through holiday 2019 and beyond,” says Jeff Gennette, chairman and chief executive officer of Macy’s, Inc. Macy’s, Inc. operates approximately 680 department …

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Newspeopleretailers

Macy’s Executive Chairman To Retire

by Katie Lee

Cincinnati — Terry Lundgren, executive chairman of Macy’s, Inc., will retire from the board of directors on January 31, 2018. The board has appointed Jeff Gennette, who has been CEO since March 2017, to the additional role of chairman effective January 31, 2018. This will complete the planned transition that was announced in June 2016. Marna Whittington remains lead independent director. Following Lundgren’s retirement, the board will have 10 directors.

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