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 is the significance of being the third largest Internet company in America for the business?

How does the company plan to compete with online retailers like Amazon?