Which CEO is more responsible for the disintegration of Macy's?
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Please understand Wall Street rewards future potential and innovation more than your current status quo. Macy's should not exist by that standard ...
Regards,
Tractor CEO
Amazon and the shift to online shopping... customers changed their shopping patterns because companies like amazon undercut traditional retailers. Blame wall street and the media for holding companies like macys to different standards... more profitable than most retailers but still stocks declined
New York City union reps say it's irresponsible to spend millions on Macy's Fourth of July fireworks, but that won't stop Mayor Bill de Blasio from putting on the promised show. Macy's should not be spending millions on fireworks displays while its own workforce is out of work.
Macy's reportedly spent an estimated $6 million to shoot 40,000 fireworks about 1,000 feet into the air over the Hudson River. Last year, the event drew about 3 million spectators with another 6 million watching on television.
In its release Thursday, the union - which represents 6,300 workers at Macy's, Inc., said it has asked the company to extend current contracts anywhere from six months to one year, but that Macy's has declined to consider the request. According to Applebaum, the worker's current contract is set to expire soon.
"The stores are closed, nobody is working and neither party has any clue what the future will hold," Applebaum said in the release. "How do you negotiate in good faith when the company is unable to tell you when each store will reopen or how it will reopen."
He continued: "It makes no logical sense for negotiations to move forward at this time - period."
https://www.macysinc.com/about/board-of-directors
Amazon will emerge from this crisis stronger, bigger and more powerful than maybe even Bezos thought possible. As American retailers circle the drain — institutions such as Macy’s, J.C. Penney, the Gap, J. Crew, Sears — Amazon will feed off their carcasses and further our dependence.
Terry was an EGO maniac and Jeff couldn't make a decision.Neither one cared about the customer and the customer left.......
Both. Macy's had the name but these 2 had THEIR agenda. If you pointed out opportunity or a roadblock that was not agenda ; you were banished. We have watched great people fired or tortured for no reason. They created an atmosphere of silos of paranoia that had people pitted against each other. They let TGMaxx eat our lunch because that customer was below us. The online site should have been much more aggressively progressive and tied to the store experience 10 years ago. It should have been the go to fashion and key emerging item site and easy to use. Non-producing doors should have been shed after the market recovery post 2009. It would still have been very tough but we would have been in much better shape to go into the current challenge. Of the 2, JG is worse but EGO is the issue.
Neither is responsible for the move to online shopping. Technology evolves creating new opportunities for the consumer. Shop online, compare products and pricing, read product reviews and have your choice delivered to your front door often the next day. How does a department store compete with that. Department stores are being replaced similar to how Netflix replaced Blockbuster video stores.
I believe Terry did the most financial damage by overpaying for the May Company stores for $11 Billion about 14 years ago. Worse investment I have seen. Macy's is now valued at $1.7 Billion.
JG is just maneuvering the Titanic.