Content about Terry J. Lundgren

February 26, 2013
Macy's CEO takes stand in Martha Stewart case

Terry Lundgren, CEO of Macy’s, took the stand on Monday to testify in the trial of two Macy's lawsuits regarding the deal between JCPenney and Martha Stewart Living Omnimedia Inc. The long-awaited trial began last Wednesday, in New York Supreme Court.

NEW YORK — Terry Lundgren, CEO of Macy’s, took the stand on Monday to testify in the trial of two Macy's lawsuits regarding the deal between JCPenney and Martha Stewart Living Omnimedia Inc. The long-awaited trial began last Wednesday, in New York Supreme Court.

The trial is about whether Macy’s has the exclusive right to sell Martha Stewart branded cookware, bedding and certain other products. 

February 7, 2013
Macy's, Kohl's post positive comps

Department store retailers reported strong sales in January as shoppers responded positively to post-holiday clearance events.

NEW YORK — Department store retailers reported strong sales in January as shoppers responded positively to post-holiday clearance events.  

Overall, the 20 retailers reporting January comps saw an average rise of 5.1%, according to the International Council of Shopping Centers, which beat the mall trade group’s 3% forecasted rise.

January 28, 2013
Macy's realigns exec team on CAO's retirement

Macy's has assigned additional responsibilities to several of its executives following the retirement of Thomas Cole, chief administrative officer, who is leaving the company in May after 41 years of service.

CINCINNATI — Macy's has assigned additional responsibilities to several of its executives following the retirement of Thomas Cole, chief administrative officer, who is leaving the company in May after 41 years of service.

Cole's responsibilities have been re-assigned as follows:

January 28, 2013
Macy's realigns exec team on CAO's retirement

Macy's has assigned additional responsibilities to several of its executives following the retirement of Thomas Cole, chief administrative officer, who is leaving the company in May after 41 years of service.

CINCINNATI — Macy's has assigned additional responsibilities to several of its executives following the retirement of Thomas Cole, chief administrative officer, who is leaving the company in May after 41 years of service.

Cole's responsibilities have been re-assigned as follows:

January 25, 2013
Macy's CEO wins mother of all dad awards

The National Father’s Day Council, a nonprofit that recognizes modern day role model fathers, has named Terry Lundgren, chairman, president and CEO of Macy’s Inc., as a recipient of its 2013 "Father of the Year" Award.

NEW YORK, NY — The National Father’s Day Council, a nonprofit that recognizes modern day role model fathers, has named Terry Lundgren, chairman, president and CEO of Macy’s Inc., as a recipient of its 2013 "Father of the Year" Award. Lundgren joins President Bill Clinton, Founder of the William J. Clinton Foundation and 42nd President of the United States, as a fellow honoree. The awards will be presented at the 72nd Annual Father of the Year Awards in New York City on Tuesday, June 11. 

January 14, 2013
Saks CEO new chair of NRF board

The National Retail Federation has elected Saks chairman and CEO Stephen I. Sadove to chairman of the NRF board of directors and chairman of its executive committee.

NEW YORK — The National Retail Federation has elected Saks chairman and CEO Stephen I. Sadove to chairman of the NRF board of directors and chairman of its executive committee. Sadove succeeds NRF’s chairman, Terry J. Lundgren, who is chairman, president and CEO of Macy’s.
 

January 8, 2013
Macy’s CEO to join P&G board

Procter & Gamble name Macy’s chairman, president and CEO Terry Lundgren as the newest member of its board of directors.

Procter & Gamble name Macy’s chairman, president and CEO Terry Lundgren as the newest member of its board of directors.

Lundgren fills a position vacated by current P&G Director Johnathan Rodgers who is not seeking re-election when P&G’s holds its annual shareholder meeting in October.

January 3, 2013
Crazy Christmas offers retailers mixed bag

In what turned out to be one of the stranger holiday seasons in recent memory retailers fought through a range of unconventional headwinds to deliver an uneven performance.

In what turned out to be one of the stranger holiday seasons in recent memory retailers fought through a range of unconventional headwinds to deliver an uneven performance.

October 1, 2012
Holiday hiring frenzy arrives at Macy's

Macy's Inc. joined the ranks of other retailers that have already announced plans to boost store staff during the holiday season.

CINCINNATI — Macy's Inc. joined the ranks of other retailers that have already announced plans to boost store staff during the holiday season.

July 5, 2012
Macy’s and Kohl’s post disappointing results in June

Analysts expected 18 top retail chains to report a modest gains in June, as high unemployment and falling consumer confidence have taken a toll on spending.

NEW YORK — Analysts expected 18 top retail chains to report a modest gains in June, as high unemployment and falling consumer confidence have taken a toll on spending.

Among the department store retailers reporting June same-store results so far, the results were largely mixed. Macy’s was among the retailers reporting sales that fell short of estimates. Same-store sales rose 1.2% in June, missing Wall Street’s projected 1.9% gain.

May 23, 2012
Macy's broadens presence in China with luxury website investment

Macy's is offering customers in China access to an assortment of its highly regarded private brand merchandise through a Macy's section on Omei.com, a newly established China-based online retailer of in-season luxury and fashion brands operated by VIPStore Co., Ltd.

CINCINNATI — Macy's is offering customers in China access to an assortment of its highly regarded private brand merchandise through a Macy's section on Omei.com, a newly established China-based online retailer of in-season luxury and fashion brands operated by VIPStore Co., Ltd.

May 16, 2012
Hawaiin boutique owner wins top prize in NRF's 'This is Retail' contest

Tanna Dang, co-owner of the Eden in Love boutique in Honolulu, Hawaii was awarded the top $25,000 prize in the National Retail Federation’s inaugural “This is Retail” video contest.

WASHINGTON — Tanna Dang, a boutique owner in Honolulu, Hawaii was awarded the top $25,000 prize in the National Retail Federation’s inaugural “This is Retail” video contest. Florida’s Kim Williams of The Polka Dot press came in second place and will take home $15,000 and Illinois’ Susan Kaufman will take home $10,000 for third place. Nearly 1 million votes were cast by the public through NRF’s Retail Means Jobs website to choose the contest winners.

March 16, 2012
Executives from P&G, Macy's nominated to serve on Kraft Foods board

Kraft Foods has nominated two candidates to serve on the company's board of directors.

NORTHFIELD, Ill. — Kraft Foods has nominated two candidates to serve on the company's board of directors.

February 21, 2012
Macy's continues sales streak

Macy's continues to see improved financial performance, reporting fourth-quarter sales and earnings today that exceeded management’s expectations.

CINCINNATI — Macy's continues to see improved financial performance, reporting fourth-quarter sales and earnings today that exceeded management’s expectations.

The company reported fourth-quarter earnings per diluted share of $1.74, compared with diluted earnings per share of $1.59 for the fourth quarter of 2010. Sales for the quarter increased 5.5% to $8.7 billion from $8.3 billion last year. Same-store sales for the quarter increased 5.2%.

February 2, 2012
Discounters post solid results for January

The nation’s discount chains reported solid results for January, with Target Corp., TJX Cos., and Costco Wholesale Corp. all reporting gains above expectations.

NEW YORK — The nation’s discount chains reported solid results for January, with Target Corp., TJX Cos., and Costco Wholesale Corp. all reporting gains above expectations. Overall, discounters reported stronger results than department stores, which appeared to take a greater hit due to the unseasonably warm weather and heavy promotions.

As the first month of the year, January accounts for only 20% Nov. through Jan. sales, and 7% of annual sales, according to RetailMetrics.

February 2, 2012
Sachse takes on new role at Macy's

Macy’s Inc. announced that Peter Sachse, the company's chief marketing officer and chairman of Macys.com, will succeed Ron Klein as chief stores officer, effective Feb. 13.

CINCINNATI — Macy’s Inc. announced that Peter Sachse, the company's chief marketing officer and chairman of Macys.com, will succeed Ron Klein as chief stores officer, effective Feb. 13. Klein will retire from Macy's effective March 31, after 36 years with the company. 

December 5, 2011
Flat apparel comps reflect overall mixed bag

Target's flat apparel and accessories for the month of November reflected a mixed sales environment across the department-store and specialty-apparel sectors as the economy continues to affect discretionary spending.

NEW YORK — Target's flat apparel and accessories for the month of November reflected a mixed sales environment across the department-store and specialty-apparel sectors as the economy continues to affect discretionary spending.

October 6, 2011
JCPenney last in race with Macy's, Kohl's

While Kohl’s and Macy’s posted September sales growth, JCPenney had to scale its outlook back after a weaker than expected month.

MENOMONEE FALLS, Wis. PLANO, Texas and CINCINNATI – While Kohl’s and Macy’s posted September sales growth, JCPenney had to scale its outlook back after a weaker than expected month.

Kohl’s reported that sales for September increased 5.8% and comparable-store sales increased 4.1% over the same period last year. 

September 26, 2011
Macy's boosts seasonal hiring in anticipation of holiday sales

While research groups are predicting various results for holiday spending, such retailers as Macy's Inc. are hoping that expectations for increased spending will prove to be right and are boosting seasonal hiring in preparation.

CINCINNATI — While research groups are predicting various results for holiday spending, such retailers as Macy's Inc. are hoping that expectations for increased spending will prove to be right and are boosting seasonal hiring in preparation. Macy’s Inc. said it plans to hire approximately 78,000 seasonal associates for its Macy’s and Bloomingdale’s stores, call centers, distribution centers and online fulfillment centers nationwide for the 2011 holiday season.

September 6, 2011
Lundgren named to board of Federal Reserve Bank of New York

Terry Lundgren, CEO of Macy’s, has been appointed to the Federal Reserve Bank of New York board of directors.

NEW YORK — Terry Lundgren, CEO of Macy’s, has been appointed to the Federal Reserve Bank of New York board of directors.

Lundgren was appointed a class B director starting Aug. 31 for the unexpired porting of a three-year term ending Dec. 11, serving the remainder of GE CEO Jeffrey Immelt’s CEO term.

August 4, 2011
Kohl's lags behind Macy's, JCPenney in comps growth

Macy’s emerged as the big winner among department-store retailers this July, reporting sales growth that exceeded expectations.

CINCINNATI, MENOMONEE FALLS, Wis., and PLANO, Texas — Macy’s emerged as the big winner among department-store retailers this July, reporting sales growth that exceeded expectations. JCPenney also faired well for July, while Kohl’s sales disappointed. 

Macy’s Inc. reported total sales of $1.6 billion for the four weeks ended July 30, an increase of 5% compared with total sales of $1.525 billion in the four weeks ended July 31, 2010. On a same-store basis, Macy’s Inc. sales were up 5% in July.

July 7, 2011
Dept. stores deliver solid June sales

Department-store retailers turned out solid sales results in June, despite concerns about consumers cutting back on spending.

NEW YORK – Department-store retailers turned out solid sales results in June, despite concerns about consumers cutting back on spending.

Macy’s Inc. reported that its total sales for the fiscal month of June increased 7.5% to $2.392 billion from $2.226 billion last year. The retailer reported a same-store sales increase of 6.7% for the month. 

May 11, 2011
Macy’s Q1 earnings soar; raises outlook

Macy’s first-quarter earnings soared and easily beat Wall Street predictions on rising sales, tight expense controls and its efforts to tailor merchandise by region.

Cincinnati — Macy’s first-quarter earnings soared and easily beat Wall Street predictions on rising sales, tight expense controls and its efforts to tailor merchandise by region. The department store operator is doubling its quarterly dividend and raising its full-year earnings and sales outlook.

Macy’s posted net income of $131 million for the quarter that ended on April 30, nearly six times higher than the $23 million it reported a year earlier.

February 22, 2011
Macy's Q4 profit rises 50% on strong holiday selling season

Macy’s reported Tuesday that net income jumped 50% in the fourth quarter ended Jan. 29, and projected its full-year profit would meet Wall Street expectations.

CINCINNATI -- Macy’s reported Tuesday that net income jumped 50% in the fourth quarter ended Jan. 29, and projected its full-year profit would meet Wall Street expectations.

After a strong holiday season, the retailer earned $667 million in the fourth quarter, compared with $445 million in the year-ago period.

Revenue rose 5% to $8.27 billion, just missing analysts’ average forecast for $8.28 billion. Same-store sales increased 4.3%.

February 3, 2011
JCPenney disappoints, Dillard’s shines in January

Dillard’s was the clear winner in the department store category in January, posting a same-store sales increase of 6%, which edged results from both Macy’s and Saks.

NEW YORK -- Dillard’s was the clear winner in the department store category in January, posting a same-store sales increase of 6%, which edged results from both Macy’s and Saks.

JCPenney was the big disappointment, as same-store sales dropped an unexpected 1.2%. A survey of analysts by Thomson Reuters produced a consensus estimate of same-store sales up 1.8%.

The retailer said January sales were impacted by lower levels of clearance inventory as well as by adverse weather conditions.