Macy’S Ceo Says Control Adjustments Target Faster Sales, Higher Margins

Macy’s Backstage, the department store chain’s off-price nameplate, is being rolled out inside more of Macy’s existing big boxes.
“Yesterday’s announcement is about how Macy’s is going to grow sales faster,” Gennette told CNBC’s “Squawk Box” on Tuesday morning in an exclusive interview.
“How we are approaching growth is business by business, store by store,” Gennette said of Macy’s expansion from here.
“As of Monday’s market close, Macy’s stock has fallen more than 50 percent over the past 12 months, and is down 45 percent in 2017.
Coming this fall, Macy’s will launch a new loyalty program — something that falls “right at the heart of what the consumer wants,” Gennette told CNBC.

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