Macy's CEO Lundgren: Investing in Staff Pays Off

The video discusses Macy's quarterly earnings, highlighting continuous improvement due to strategic initiatives. Key investments in staffing and specific product categories like denim have driven sales and customer service improvements. The company plans to close 100 stores, citing an over-saturated U.S. retail market, while emphasizing its strong online presence as the third largest Internet retailer in America. Macy's competes with Amazon by leveraging its physical stores and advanced fulfillment systems, maintaining a significant portion of sales through brick-and-mortar locations.

What was one of the key strategies Macy's implemented to improve sales and customer service?

• Reducing the number of store locations

• Focusing solely on online sales

• Investing in additional staffing and management

• Increasing the prices of products

Why did Macy's decide to close 100 full-line stores?

• To focus more on international markets

• Due to a decrease in online sales

• To increase the number of furniture stores

• Because of the over-saturation of retail space in the U.S.

How does Macy's plan to benefit from the trend towards online shopping?

• By reducing its product range

• By leveraging its position as the third largest Internet company in America

• By becoming the largest online retailer

• By closing all physical stores

What advantage does Macy's have over Amazon in terms of customer shopping experience?

• Lower prices on all products

• A larger variety of products

• Physical stores that enhance the shopping experience

• Faster delivery times

What percentage of goods in Macy's categories were sold in a physical store environment in 2015?

• 100%

• 90%

• 70%

• 50%