Macy’s initiatives to drive sales
by Jo Black
Macy’s, Inc.announced new initiatives to strengthen local market focus and enhance selling service which, in combination with the consolidation of three Macy’s divisions, is expected to enable the company to both accelerate same-store sales growth and reduce expense.
Improving sales and earnings performance requires innovation in engaging our customer more effectively in every store, as well as reducing total costs, said Terry J. Lundgren, Macy’s, Inc. chairman, president and chief executive officer. We believe the right answer is to reallocate our resources to place more emphasis and talent at the local market level to differentiate Macy’s stores, serve customers and drive business.
He further said that in essence, we plan to drive sales growth by improving our knowledge at the local level and then acting quickly on that knowledge. These moves will benefit our customers as well as our shareholders.
In addition, we believe our new strategies will speed up decision making and simplify the process of working with our vendors.
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