Content about Terry Lundgren

August 13, 2014

Macy’s tempered its full year sales forecast after solid second quarter results and growing optimism around omnichannel initiatives weren’t enough to offset a slow start to the year.

Macy’s tempered its full year sales forecast after solid second quarter results and growing optimism around omnichannel initiatives weren’t enough to offset a slow start to the year.

Macy’s said sales increased 3.3% to $6.267 billion and same store sales increased 4% during the second quarter ended August 2. Excluding sales in departments licensed to third parties same store sales increase 3.4%. Profits increased to $292 million, or 80 cents a share, from $281 million, or 72 cents a share.

May 14, 2014

The nation’s leading department store retailer overcame weak first quarter sales to muster a 3.2% profit improvement and expressed confidence in its performance the remainder of the year.

The nation’s leading department store retailer overcame weak first quarter sales to muster a 3.2% profit improvement and expressed confidence in its performance the remainder of the year.

The company’s first quarter earnings per share of 60 cents was a penny better than analysts forecast and a 9% improvement from prior year earnings of 55 cents. However, sales declined 1.7% to nearly $6.3 billion while same store sales, excluding sales from departments licensed to third parties, fell 1.6%.

March 31, 2014

Jeffrey Gennette will take on the new role of president at Macy's after serving the past five years as the department store retailer’s chief merchandising officer.

Jeffrey Gennette will take on the new role of president at Macy's after serving the past five years as the department store retailer’s chief merchandising officer.

Gennette will report to Macy’s chairman and CEO Terry Lundgren and retain day-to-day responsibility for Macy's merchandising functions, as well as oversight of marketing and macys.com. In addition, he assumes oversight responsibility for Macy's private brands organization.

January 8, 2014

Macy’s rocked the retail world late Wednesday announcing record holiday sales and elevating its profit forecast while simultaneously cutting 2,500 jobs and detailing plans to close five stores.

Macy’s rocked the retail world late Wednesday announcing record holiday sales while simultaneously cutting 2,500 jobs and detailing plans to close five stores.

November 13, 2013

A tepid economic climate and government shutdown weren’t enough to prevent Macy’s from producing a 3.5% third quarter same store sale increase and better than expected profits which prompted the department store operator to reiterate it full year financial forecast.

A tepid economic climate and government shutdown weren’t enough to prevent Macy’s from producing a 3.5% third quarter same store sale increase and better than expected profits which prompted the department store operator to reiterate it full year financial forecast.

August 14, 2013

Disappointing second quarter sales at Macy’s prompted the nation’s leading department store operator to temper its outlook for the remainder of the year, heightening concerns about the health of the consumer just as other major retailers are due to report financial results in the weeks ahead.

Disappointing second quarter sales at Macy’s prompted the nation’s leading department store operator to temper its outlook for the remainder of the year, heightening concerns about the health of the consumer just as other major retailers are due to report financial results in the weeks ahead.

Sales declined 0.8% to slightly more than $6 billion and same store sales fell by a similar amount during the second quarter period ended August 3. Profits increased 7.5% to 72 cents from 67 cents, but that figure was six cents less that analysts forecast.

February 26, 2013

Macy's reported fourth-quarter sales and earnings growth that exceeded company expectations, prompting it to issue new guidance for 2013.

CINCINNATI — Macy's reported fourth-quarter sales and earnings growth that exceeded company expectations, prompting it to issue new guidance for 2013. 

February 26, 2013

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

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 25, 2013

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 8, 2013

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.

July 5, 2012

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 16, 2012

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.

February 2, 2012

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

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.

September 26, 2011

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

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.

July 7, 2011

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. 

February 22, 2011

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

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.

January 4, 2011

Macy's Inc. has announced a series of organizational expansions, totaling approximately 725 new positions over the next two years, to support the growth of macys.com and bloomingdales.com.

CINCINNATI - Macy's Inc. has announced a series of organizational expansions, totaling approximately 725 new positions over the next two years, to support the growth of macys.com and bloomingdales.com. 

November 9, 2010

Macy’s Inc. reported that earnings were 2 cents per diluted share for the third quarter...

September 22, 2010

Macy’s Inc. said it plans to hire approximately 65,000 seasonal associates in its stores, call...

August 10, 2010

Macy's reported earnings of 35 cents per diluted share for the second quarter of 2010, ended July 31 ......