Tag Archives: Terry Lundgren

Retail Apocalypse: Macy's will close 100 stores

Steep discounts have not reversed Macy’s declining sales.
As a consequence, yesterday the giant retailer announced it will close 100 stores — or nearly 14% of its fleet — “to focus on its best-performing stores”.
Macy’s currently operates 728 stores, including 675 of its traditional full-price locations. Over the past 6 years, it had already shuttered about 90 stores, but also opened 13 new locations.
Krystina Gustafson reports for CNBC, Aug. 11, 2016, that the company lowered its full-year forecast in May, after reporting its steepest quarterly same-store sales decline since the 2008 recession. At that time, the company had warned that sluggish sales in warm-weather clothing would weigh on its sales and margins in the second quarter, as it would be forced into additional discounting.
Most of the 100 Macy’s stores that are slated for closure will be closed down early next year, with the remainder shutting down as leases and other obligations expire or are waived. The locations of these stores will be released at a later date. Employees impacted by the store closings may be offered positions in nearby stores. Eligible employees who are laid off will be offered severance benefits.

Macy’s President Jeff Gennette said nearly all the stores are cash-flow positive, but “their volume and profitability in most cases have been declining steadily in recent years.” In some cases, the stores are not performing worse than the overall fleet, but their potential value from redevelopment exceeds their value as a retail store. Macy’s will also close a few stores where there is another location nearby.
After these stores close, the retailer will retain a physical footprint in 49 of the top 50 U.S. markets based on population. The company will use the savings from its store closings to focus on its “highest-potential locations,” and invest “more aggressively in digital and mobile,” Gennette said. Macy’s estimates the annual sales volume it would lose from these 100 stores combined is roughly $1 billion after factoring the revenue it expects to retain due to nearby stores and the web.
Macy's CEO Terry Lundgren
Macy’s CEO Terry Lundgren told CNBC: “Whenever there’s been a setback in our company, we’ve been first in the industry to take a very aggressive stance at moving us forward. That’s just part of it. By closing 100 stores… we’re getting out in front of this.” Lundgren said he’s confident about consumers’ ability to spend moving forward, pointing to growth in auto sales and home improvement: “This is good news. They don’t need another car. They don’t need to fix their home anymore… So it’s my turn. It’s our turn.”
Blah, blah, blah.
The company announced in June that Lundgren would step down from his role in 2017, and be succeeded by Gennette.
Terry Lundgren has been Chairman, President and CEO of Macy’s, Inc. since 2004, which means he’s totally responsible for these:


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I won't be trying on clothes at Macy's

Macy’s policy requires cross-dressing men be allowed in women’s dressing rooms

Examiner:   In San Antonio, Texas, Natalie Johnson, an employee at Macy’s, stopped a man dressed as a woman from entering the women’s fitting area. Ms. Johnson said that he was wearing make-up and girl’s clothing and that he claimed to be a female.  The cross-dresser was accompanied by five other individuals, which did not intimidate Natalie. She politely told him that the women’s dressing rooms were for women only.
After arguing with expletives, the group demanded to speak with a manager. They knew that Macy’s is LGBT (lesbian, gay, bisexual, and transgender) friendly and believed she was out of line.  The manager confirmed that Macy’s LGBT policy allows transgender individuals to change in any dressing room they want.
Ms. Johnson reminded her boss that the same policy also protects against religious discrimination. She said LGBT activity, not to mention lies against calling a man a woman, goes against her religious beliefs.  She wanted no part of it.  The manager did not see that her rights to her beliefs in this case were valid. He said she could comply with policy in the cross-dresser’s favor or lose her job.  Not seeing his ultimatum as a true choice, Johnson left employment at Macy’s.
If you have a penis you are a man, no matter what you want to “feel”.  Biology and DNA are facts.   As a woman, I don’t want any individual with a penis entering a private room that is for REAL women.  But the minority 2% of the population keep pushing for their “rights”, even if it means infringing on my rights to privacy (and comfort).
Next time I’m at Macy’s (and there may not even be a next time) I will definitely not be going into any women’s dressing room.

Terry Lundgren, President & CEO of Macy's Inc

Contact info for Terry J. Lundgren, the CEO, Chairman of the Board, President, and Director at Macy’s, Inc., the parent company of Macy’s and Bloomingdale’s department stores:

7 West Seventh Street
Cincinnati, OH USA 45202
Phone: 513-579-7000
Fax: 513-579-7555

Click here for Macy’s “Contact Us” form. This is what I wrote; feel free to copy & paste to send as yours:

To: Terry Lundgren, President/CEO of Macy’s Inc.

As a woman and a longtime customer of Macy’s, I object to Macy’s policy of allowing cross-dressing men (i.e., transvestites) to use the women’s dressing room. Wearing lipstick and women’s clothes do not make them females. I dread to think I might run into such a person while I’m undressed in your department store’s women’s dressing room.

Why is Macy’s catering to a miniscule minority of the American population? So long as Macy’s continues this perverse policy, I will no longer shop at Macy’s. There are plenty of other places to buy clothes.

UPDATE (12.16.2011):
Mat Staver, attorney and founder of Liberty Counsel, tells OneNewsNow that an employee of another store has told him she has persistent problems keeping men out of the women’s fitting room. “She says that mothers of young daughters come up to her periodically and ask her to keep the men from going into the women’s fitting rooms. So this apparently is a pervasive problem within the Macy’s store system.”
Staver says the public is reacting: “Consistently the people of America are saying that they will not shop at Macy’s. They’re tearing up their Macy’s credit cards, they’re sending back their Macy’s gift cards, they say that they will not shop at Macy’s — and this is a consistent response that we’re seeing from the public around the country.”
H/t beloved fellow Tina!

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