Can anyone explain why a business leader who served as president of a company since 2014 and chairman since 2017 delivering a stock performance from $72.59 a share in 2015 sinking to $15.45 this morning (while the stock market has soared) still not only has a job but as been awarded extra millions ($18M LY)? Is that the reward for dismantling a company? What am I missing?
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I love the analogy about the Titanic, considering that Isidor Straus, one of the original Macy's owners, died in the sinking of the Titanic.
I work in a growth 50 store also and the post is accurate about everything. Plus they still allow animals off leash (not just service) in our store even though there is a Starbucks with food! Disgusting! Health Dept. has been notified!
with the limited staff. poor management, dying malls, lack of care, older folks being replaced by dimwit lazy kids.. macys is doomed.
Beautiful assessment – perhaps will end up like other bellyup fashion retailers.
I work for macys.. heres the problem.. older folk who work there still have good work ethic. the new younger kids they want to staff the floor could careless about macys.. they dont show up to work and when they do they sit on their phones all day doing no work. you also have one person doing 15 peoples jobs cause they didnt show up to work or just dont care. managers i have worked with are pretty much useless. you can get a sack of potatoes and put a red badge on it and get the same result. macys is going the way of circut city... fire all their talent.. hire subpar stock room employees. for 10 a hour cause it looks good on paper to the investors.. would you invest in the titanic? macys hit the ice berg in 2018.. its sinking fast.. I work in a growth 50 store.. meaning a store they invest to grow. they changed out all the lights , redid the flooring.. painted it.. and now its just a polished t–d/ . two managers bailed before xmas cause they know their being cut next year and dont wanna deal with the xmas stuff. the store has been dead since sept and only busy in spurts or weekends. with the limited staff. poor management, dying malls, lack of care, older folks being replaced by dimwit lazy kids.. macys is doomed.
I am not a CTO troll (actually had to confirm what CTO meant.) I was simply looking for an answer to my question.
The CEO does not get off the hook as CEO called the strategy shots in company since 2008. Ignored what his people told him about trend opportunities obstacles and how to challenge competition and radical change in consumer shopping patterns. As an example, the online presence should have been where it is now 10 years. Macys should have been the star of the Internet- the Dept store innovator. Instead $$$$$$$ dumped into useless ventures; 1000s fired, $$$$$$ profits lost.
Sell Macy's: Not Deep Value, But Deep Trouble
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Macy’s screens well as a value stock based on earnings multiples. The high dividend is extremely attractive to income seekers.
But the substantial debt on the balance sheet and pressure on its credit ratings add significant risks to the long thesis. The current trajectory for the company appears bleak, and Macy's could quickly go the way of its peers.
Macy's incredibly high dividend yield and short interest are a sign that smart money is betting on a continued decline in its business. When Wall Street smells blood, we stay out of the water. For an aggressive and risk-tolerant investor, a short position in Macy’s could be a potentially profitable bet.
There are safer, quickly growing companies with healthy core businesses, secular tailwinds, and talented management teams that make for much more reliable investments. Stick with the best of breed.
Shut down high cost low return hype driven San Francisco
In all fairness, Jeff took the reins while the retail shake up had started. I do not believe another CEO will make a marked difference. I do believe Mr. Lawton was a bad choice for President. Macy's is pretty much a lost cause at this point. Too many stores not enough investment in fulfillment buildings. Billions will have to be spent to catch up to the successful .com companies. My advice , sell this stock.
The best thing they can do for the stock is if Jeff is fired. It should happen soon
The cto troll returns. Get back under your bridge.
Macy's Enterprise Platform team was a scam existence since free and open source can do better job without the overhead of VP, Directors and Senior Managers. I am so happy that this historical and strategic mistake and abhorrent abberation has been corrected by new CTo. Hats off to you sir!!
Correct ... The concept of shareholder power is too diffused. Only activist shareholder can bring meaningful change in a company. Macy's is worth only the real estate after Omni/Digital deemphasis. I am not saying Macy's.con is a success story (the spelling mistake us intentional).