Recently I went to a lecture by Terry Lundgren who is the Chairman, President and Chief Executive Officer of Macys, Inc. The lecture was interesting, he mentioned that he spends 30 minutes a week with the young executives and that he holds a breakfast club for people who just graduated college (after 2-3 weeks). Macy's and Bloomingdales are basically the same company its just that Bloomingdales sales more high fashion items. Terry Lundgren spoke on something that I was thinking about earlier regarding the Gap Company but he showed it by using data.
One thing I've been noticing is that Gap is not offering better quality clothing like they use too and I think it's hurting them a lot because they are only making up a extremely small percentage of the market (1%). If Gap doesn't figure out a way to improve by innovating then they'll soon be out of the game. During the questions segment of the lecture, one student spoke on the Tommy Hilfiger racist RUMOR that happened 8 years ago and Terry Lundgren ensured that it was completely FALSE; even Oprah brought Tommy Hilfiger on her show to squash that lie. Its a shame that one person can ruin another person's reputation by making a false statement like in the case of Tommy Hilfiger. Overall the lecture was great! Macy's is doing it BIG!!
Also the less we spend the worse our economy because spending in America is how our economy works to stay in the green.