Jeff Gennette moves on.
A few thoughts from me on this:
Macy’s has gotten extremely lucky in that their CFO and Merchandising/Supply Chain team navigated inventory overstocks WAY better than many other retailers.
Jeff has been at this a long time.
The economy isn’t immediately getting better.
The best CEOs know when to go out on top. Macy’s is not this tremendous story, but it could be a lot worse.
Perhaps that is damning Jeff Gennette with faint praise…
Why is he waiting another year to do this is another question that comes to mind?