New boss set to take reins at US retailer Macy’s
US department store Macy’s has announced that its chief executive Terry Lundgren will step down early next year, to be replaced by Jeff Gennette.
“Now is the time to reset our business model to thrive in a future that is being driven by rapid evolution in consumer preferences and shopping habits. Our company must and will change in response to the profound secular forces that are driving consumer spending.”
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