Macy's CEO on Earnings, Brand Strategy and Outlook

Summary

Macy's CEO Tony Spring discusses the company's earnings, turnaround strategy, and consumer spending trends. He highlights strong performance at Bloomingdale's and the success of store remodels. He addresses competition from Saks and the impact of gas prices and tariffs.

• Macy's reported four straight quarters of comp sales growth, with Bloomingdale's up 10%.
• CEO Tony Spring emphasizes the 'Bold New Chapter' strategy: strengthen Macy's, grow Bloomingdale's, improve efficiency.
• Store remodels are driving higher sales; reimagined stores show over 2% growth.
• New brands like Donna Karan and Ted Baker are being added to the portfolio.
• Spring downplays competition from Saks, focusing on Bloomingdale's own potential.
• Consumer remains willing to spend on accessible luxury despite higher gas prices.
• Tariff uncertainty hurt last year; this year is more stable, allowing focus on the customer.
• Berkshire Hathaway's small stake in Macy's is seen as a long-term vote of confidence.