Macy's CEO Jeff Gennette says has 'clear plan' to return Macy's to growth
On its Q4 earnings conference call, Macy's CEO Jeff Gennette said the company is entering 2018 with "healthy" inventories, engaged organization and a clear path to return Macy's to growth. Says consumer spending "strong," cold weather a benefit in Q4. Gennette said Macy's saw an improved trend shift in beauty in Q4, adds that Macy's did not need additional discounting to clear inventory. He also noted that Macy's had double digit growth in digital in Q4. The executive said Macy's plans to add 100 Backstage stores in 2018. Gennette sees "strong" consumer spending in 2018. The CEO also announced an employee incentive plan for 2018 and noted that all employees will be part of the program. Macy's is up 12.6% in morning trading to $30.88.