35 Burst results for "Macy"

"macy" Discussed on Wisdom From The Top

Wisdom From The Top

02:37 min | Last week

"macy" Discussed on Wisdom From The Top

"Your career? I've been asked this question many times and I guess I used to say, oh, we can all learn and I'm still learning, frankly, now. But there has been so many examples when I was young being thrown into a position of Terry, why don't you become the captain of the basketball team? Why don't you become the pledge class president? Why don't you become a CEO and you're 35? So I didn't ask for all of these roles. It just sort of found me. And so I do believe there's something that was in me that helped me become a leader. And I honestly believe that when my father cut me off in college and those last two years when I had to fend for myself and I had to work on my own and get a job and perform well in school, that was such a critical development period for me and the fact that that restaurant kept promoting me each time made me realize, hey, you know what? Wake up. You know, you can do a lot. You can do a lot more than you've applied in the past. And once you apply yourself and believe in yourself and go get it and just see what's out there for you. And I think that's what gave me the confidence to go and hustle for those 13 job offers that I received after a college and at that restaurant. So I think it's in a lot of us, but sometimes it lays dormant until it gets woken up by examples

Terry basketball
"macy" Discussed on Wisdom From The Top

Wisdom From The Top

20:34 min | Last week

"macy" Discussed on Wisdom From The Top

"I opened the zombie and I said, oh my. I've never seen numbers quite like this before. I mean, this would change my family's life, you know? This would change everything. The house I lived in, the car I drove the future of my children's, you know, I mean, it just really was very big at that time. And I just was holy macro. Should I at least consider this? And so I called my friend Alan, your former mentor, my former mentor and was still then, and my mentor and I said, Alan, look, I, you know, this is crazy, and I never even called you about this, but I just, I saw these numbers and they're ridiculous. And he said, you've never taken a job for money. It is a lot of money, but you've never taken a job from money. Why on earth would you start now? And I said, you're a 100% right. That's all I need to hear. I called them back. And I said, thank you. I've made up my mind. I'm not interested. Next day, Alan question calls me up and says, okay, well look, since you were considering leaving, I think you should consider coming back to Federated department stores. And I said, well, I really wasn't considered right. I just said this package was so ridiculous. I had to just look at it. But I really wasn't considering leaving. He said, well, what if I told you that if you came back to Federated that we could actually try to buy Macy's? And I said, now that's a very interesting idea. And long story short it took 6 months but he convinced me to come back and I went in April of 1994 and we strategized and December of 1994, we bought Macy's. Wow. And it wasn't a welcome bit. Right. So you go back to Federated and help Federated by its longtime rival Macy's. And then the two companies merge. And during this time, you're not CEO, but I guess you're sort of being set up to grow into that kind of role eventually. Yes, I was made the chief merchant head of what was called Federated merchandising. And my job was to find commonality so we could do larger buys among our various buying groups and also ease the merge between Macy's and Federated find the efficiencies, take out the waste, find the best talent, move them into the right jobs and roles and responsibilities and create hopefully a successful merger between the two companies. So I'm curious, like now, in the late 90s, was there any inkling at that point that big retail stores like Macy's might might have some headwinds down the road or at the time was it like, you know, this is great. This is going to be a hundred year 200 year business. Well, no, I didn't necessarily feel that way because when I graduated from college, I told my college roommate that I was going to work for Bullock's department stores. He said, what are you doing going to a department store? Is that a dinosaur business? I never forgot that. But he is point was there's going to be other retailing TV retailing catalogs were out and people say, oh, they're going to just shop on couch. They put an 800 number at the bottom of your catalog, and you're just going to call up. That's going to kill the department stores. You know, and so there were all these, all of these reasons why the business model of a department store was under attack for many years. Of course, the online business today is sort of the ultimate challenge. But I felt the business was under attack from many angles all through my career. And then of course, when they became highly leveraged, it happened to a lot of department stores. Federated was bankrupt, Macy's was bankrupt, bomb would tell her went out of business, B Altman's went out of business. These were largely due to having too much debt during challenging operating periods that could not be paid. So you, I mean, you are working with Alan at Federated Macy's and 2003. You become the CEO of Federated. So essentially, overseeing all these brands, including Macy's, at that time in 2003, was there a sense that this business needed to consolidate to kind of protect, you know, kind of create a moat around it. I mean, was there a sense that, all right, let's think about how we can protect our market share, our business for the next 20, 34 years. Sure. So when I became CEO, and I talked about, you know, what I hope we could do. My board was just genuinely surprised that I was so positive about this business that they had come to believe was under tremendous stress and was under huge challenge and was just flattening out and not performing. So when I got into that job, it was sort of a downer period. And I'm coming in with such enthusiasm because I can't believe I've got this great opportunity in this great job and I'm excited about it and I have these ideas. And so I came with this disbelief that we had to change in order to move forward. And within one year said, I want to buy Marshall fields. And they said, wow, wow, wow, young man. Slow down, young man. And I said, no, no, I said, we don't have any real estate in Chicago and Minneapolis and in Detroit. These are important markets and we need to become a national department store powerhouse and we need that coverage. And so they reluctantly agreed because I demonstrated all the math why we should be the ones who should take this company on. And we were going to be bidding, of course, against the May company. And the May company, they come in with a much higher bit. Substantially higher than what I was prepared to pay. And so the main company buys the company, and I told my board of directors at night, I called them up and I said, we're out. And one of my directors said to me, he said, Terry, sometimes these things have a tendency to come back around. You never know. And one year later, the CEO of bay company was let go. And I viewed that as an opportunity to go to my board and say, I have a new idea. I'd like to buy the May company. And it took a little convincing back and forth, but that's exactly what we did. And I felt like we bought the company, we were very favorable terms. This was one of the biggest acquisitions of all time at that $11 billion. Built one of the largest retailers in the world, they're going to be more than 800 stores now. And this was huge. I mean, this dropped like a bomb, right? All of a sudden, Federated, which would soon become Macy's was going to be the biggest one of the biggest retailers in the U.S. and the world. Yes. One of the beauties of this deal was we had studied it so long and hard and I got a master's doctorate degree in finance through that whole process because we bought the company for $11 billion. But we relatively soon were able to sell off $8 billion worth of assets. So I sold, I sold lord and Taylor for a $1.2 billion within a year and I actually sold it to what is now called Hudson bay company that owned sex with avenue, but their first venture into retail was buying lord and Taylor from us, and that was a very good sale on our part for $1.2 billion. But then I sold David's bridal for another 800 million sold duplicate stores because May company and Federated had stores in the same mall and we needed to get rid of some. And so we just were able to pay down debt almost instantly and what we were left with was we paid less for the total May company after selling off those assets than what May company paid for just Marshall fields. And so we felt really good about the financial work that we had done in preparations for this. And thought that it was not only was a big buy and a big decision, but we thought our financing plan worked beautifully. I mean, I mean, could you argue that at this time you were sort of doubling down on the future of department store retailing, right? Yes. I was. But I felt like we needed to have a national fashion department store. And that did not exist in the united. It didn't exist really any in any country, but certainly didn't exist in America. And so I thought, you know, if we could have one brand ultimately, that could capture the real estate and all the key markets. We will quickly become not only the largest customer for all of these brands, but will probably have about a third of their business for the most part. And so we did that when we combined and then eventually we made some other big bets, including collapsing divisions so that we would ultimately be able to have one buyer for each of the categories that we sold I'm guy rose and you're listening to wisdom from the top. We'll be right back. This message comes from NPR sponsor ADP. Business today looks nothing like it did yesterday, while it's more unpredictable, it's possibilities are endless, knowing how to turn unpredictability into an advantage is where ADP comes in. ADP uses data driven insights to design HR solutions to help businesses of all sizes work better, smarter. So they can think beyond today and find even more success tomorrow. ADP always designing for HR, talent, time, payroll, people. This message comes from NPR sponsor, key, a bank dedicated to your businesses long-term success. Don't know where to start with sustainability, their experts do. As one of the top renewable energy lenders in North America, key knows how to create unique, sustainable solutions for your business. From investing in green tech and energy to increasing product life cycles, key is here to help you future proof your business. Learn from their experts at key dot com slash sustainability. This message comes from NPR sponsor, carvana, carvana has purchased over a million vehicles from happy customers by giving them an offer within minutes. Carvana gives real offers. Then they pick up the car and pay you on the spot. Visit carvana dot com or download the app to learn more. This is wisdom from the top. I'm guy Roz. I mean, you were well aware of this as a student of business and somebody who reads the press that you were criticized for that purchase in 2005. There were some analysts who said this is not the right move for Federated Macy's. But I wonder if you hadn't done that acquisition back at the time of May company. Do you think Macy's would have been in a worse position today? Oh, I definitely do. Because Macy's would not have been a national player. They would not have been the largest customer for all of their brands. And you know, listen, when you're in these roles, there's always going to be criticism. And that I would ask, how do you like the status quo? How do you like doing nothing and just continuing on the path that you've already been on? And I think not enough analysts ask that question. If they would have just stayed on the path they were on, let these other competitors come in, then what would have happened to them. And my answer to that, I didn't like the answer to that. I didn't like where that future was going to be. I could see it if I just did nothing and continued on. So taking that risk, in fact, to me was safer than not taking a risk by not changing. That to me was an even bigger risk. So I felt passionately about not sitting on the sidelines and letting this happen to us, but rather taking a bold move and creating what I thought could be and frankly was the largest fashion retailer in the world, basically. I think it was a roughly two years after the acquisition, you are facing the biggest financial crisis. It's a great depression, right? 2007, 2009, financial crisis and recession. Everyone gets absolutely hammered. And retail, particularly brick and mortar retailer. This moment is incredibly vulnerable. Do you remember, I don't know, feeling worried at that time? Oh yeah. Very much so. This is another big financial setback that the retailers felt immediately. And I remind people that retailers knew that we were headed for a recession before the Lehman Brothers collapse in the Merrill Lynch acquisition. We saw business challenge the business being challenged and consumer pullback well before that September period. So that when that actually occurred when the event that Monday morning occurred, it was a precipitous drop in consumption, but it was already on the decline. And so we were now saying, okay, this is going to be around for a while. And we need to have a different cost structure than the one that we've been operating with because the business isn't going to jump back to where we've been. So I need to take costs out. That's the first thing. I said, so, but I don't want to just take costs out. I want to figure out how to take costs out and create a better mousetrap. And create a more attractive company for our consumers. How do we do that? So I collapsed all of the divisions after a quick test, saved a half $600 million, but told Wall Street, I only saved $500 million because I took a $100 million and reinvested it into this new organization structure called my Macy's, which had the intent of identifying merchandise that was locally relevant to consumers. And I remember telling a story that when I was at Bullock's department stores and I was a buyer at one point in time of dinnerware and getting a call from my department manager of the China and crystal and silver area in south coast Plaza, one of our stores. And she says to me, Terry, I've got 12 brides registered for the Lennox eternal pattern, and I'm out of stock. What are you going to do about it? So I never checking my inventory and my paper log and driving to the Lakewood store after work that night, filling up my car with a whole bunch of China, dinnerware sets, and driving it to the south coast Plaza store, and the problem was solved for the weekend. And I said, so how do we use technology to solve the problem the way we solved it back then? How do we create the local response that I just described? Because we want customers in south coast Plaza to say this is my Macy's, and it's different than Macy's in New York City. It's different than Macy's in San Francisco. It's different than Macy's Dallas, Texas. And that's where we came up with this concept of dispersing our buyers collapsing the big divisions and then putting much smaller group in the market in the field to tell us what we needed in each of these major hubs and it was just like the old days. It was just like the old days when I was a buyer. And that was a huge that became a huge hit for us. Yeah, I'm curious. When you are right, you are essentially in this position where you have to be optimistic and you have to represent the best possible face of a company because you are the CEO of the company, but probably it didn't take a whole lot of research and reading to see that down the road, all of these businesses were going to face some huge challenges. I mean, obviously, not just Walmart and target, but Amazon and other online retailers were really starting to make an impact by the late 2010s. And here you are atop this giant legacy company Macy's, was there a moment in your mind where you thought I don't know if creativity and new initiatives is ever going to really be able to compete with a website that isn't even holding inventory, you know, it doesn't have a brick and mortar store. I mean, did you when did you start to kind of think about that possibility? Well, I came back to Federated as we said in 1994 and in 1995, we launched our first website. So we started thinking about it back then. And we had a big division in San Francisco, which of course went to in Silicon Valley was just beginning to grow and emerge as this force that we all know it to be today. And so we said we have to be in this business and it was very slow and it was very unsophisticated, but we were in the game. And then we kept evolving it and so by the time 2000 and ten had come around, we had put lots of resources into our online business and today, Macy's is the fourth largest online retailer in America. Only behind Amazon, Walmart, and Apple. Cherry, I'm just a little fast forwarding a little bit, but in 2017, you retired from your role as CEO of Macy's. And I know that over your time there sales increased by a substantial percentage and coming out of the recession, it was the increase in like 80%, which of course is hugely impressive. But today, I mean, you look at a company like Macy's, right? And they're just isn't a whole lot of foot traffic anymore, right? I mean, I remember as a kid going into Macy's or bullocks or one of these department stores, right? There are lots of people. There are lots of employees, there's action, right? And now you walk into a department store and they're quiet. It feels hard to believe that they can continue to be successful. I mean, do you think that in 20 or 30 years department stores will still be around? Well, let me start with this. You know, today, 80% of all apparel shoes and accessories are sold in a physical store. Today. So the answer is is that consumers still are in those physical stores and shopping. It's just less. And by the way, that 80% today is going to go to 70%. And it's going to keep going a bit. I don't know if it's going to go to zero and 30 years. There will be some form I hope of human contact in the selling process. Today my favorite transaction is the what we call click and collect or buy online and pick up in store and the consumer does all of our research, purchases the item that you finally decides upon goes into the store, tries on the shoe, the apparel at cheese bought, and if she bought a size 6 and needs the size H, she makes that decision and changes it right there on the spot. This is where I think your blending both the online and the physical store together. And I think we're going to see more and more of that. When you think about your journey as a leader, do you think that you were born with those capabilities and capacities or do you think you really learned how to become a leader over the course of

Macy Federated Alan Federated Macy carvana Federated department Federated merchandising B Altman bay company NPR ADP Carvana Taylor Bullock Marshall fields Terry
"macy" Discussed on Wisdom From The Top

Wisdom From The Top

06:31 min | Last week

"macy" Discussed on Wisdom From The Top

"To me and said, we want to interview you for the eventual CEO role of Macy's. And I thought, wow, what a turn of events. This is. So I said, well, I'm not, you know, look, I love what I do. I'm really not that interested. I'm flattered. And they called me, they the next day and they said, you're a candidate. And I said, wow. And they sent me this envelope. And guy, you know, I said, I'm not going to take this job. This is crazy. And then I opened the zombie and I said, oh my. I've never seen numbers quite like this before. I mean, this would change my family's life, you know? This would change everything. The house I lived in, the car I drove the future of my children's, you know, I mean, it just really was very big at that time. And I just was holy macro. Should I at least consider this? And so I called my friend Alan, your former mentor, my former mentor and was still then, and my mentor and I said, Alan, look, I, you know, this is crazy, and I never even called you about this, but I just, I saw these numbers and they're ridiculous. And he said, you've never taken a job for money. It is a lot of money, but you've never taken a job from money. Why on earth would you start now? And I said, you're a 100% right. That's all I need to hear. I called them back. And I said, thank you. I've made up my mind. I'm not interested. Next day, Alan question calls me up and says, okay, well look, since you were considering leaving, I think you should consider coming back to Federated department stores. And I said, well, I really wasn't considered right. I just said this package was so ridiculous. I had to just look at it. But I really wasn't considering leaving. He said, well, what if I told you that if you came back to Federated that we could actually try to buy Macy's? And I said, now that's a very interesting idea. And long story short it took 6 months but he convinced me to come back and I went in April of 1994 and we strategized and December of 1994, we bought Macy's. Wow. And it wasn't a welcome bit. Right. So you go back to Federated and help Federated by its longtime rival Macy's. And then the two companies merge. And during this time, you're not CEO, but I guess you're sort of being set up to grow into that kind of role eventually. Yes, I was made the chief merchant head of what was called Federated merchandising. And my job was to find commonality so we could do larger buys among our various buying groups and also ease the merge between Macy's and Federated find the efficiencies, take out the waste, find the best talent, move them into the right jobs and roles and responsibilities and create hopefully a successful merger between the two companies. So I'm curious, like now, in the late 90s, was there any inkling at that point that big retail stores like Macy's might might have some headwinds down the road or at the time was it like, you know, this is great. This is going to be a hundred year 200 year business. Well, no, I didn't necessarily feel that way because when I graduated from college, I told my college roommate that I was going to work for Bullock's department stores. He said, what are you doing going to a department store? Is that a dinosaur business? I never forgot that. But he is point was there's going to be other retailing TV retailing catalogs were out and people say, oh, they're going to just shop on couch. They put an 800 number at the bottom of your catalog, and you're just going to call up. That's going to kill the department stores. You know, and so there were all these, all of these reasons why the business model of a department store was under attack for many years. Of course, the online business today is sort of the ultimate challenge. But I felt the business was under attack from many angles all through my career. And then of course, when they became highly leveraged, it happened to a lot of department stores. Federated was bankrupt, Macy's was bankrupt, bomb would tell her went out of business, B Altman's went out of business. These were largely due to having too much debt during challenging operating periods that could not be paid. So you, I mean, you are working with Alan at Federated Macy's and 2003. You become the CEO of Federated. So essentially, overseeing all these brands, including Macy's, at that time in 2003, was there a sense that this business needed to consolidate to kind of protect, you know, kind of create a moat around it. I mean, was there a sense that, all right, let's think about how we can protect our market share, our business for the next 20, 34 years. Sure. So when I became CEO, and I talked about, you know, what I hope we could do. My board was just genuinely surprised that I was so positive about this business that they had come to believe was under tremendous stress and was under huge challenge and was just flattening out and not performing. So when I got into that job, it was sort of a downer period. And I'm coming in with such enthusiasm because I can't believe I've got this great opportunity in this great job and I'm excited about it and I have these ideas. And so I came with this disbelief that we had to change in order to move forward. And within one year said, I want to buy Marshall fields. And they said, wow, wow, wow, young man. Slow down, young man. And I said, no, no, I said, we don't have any real estate in Chicago and Minneapolis and in Detroit. These are important markets and we need to become a national department store powerhouse and we need that coverage. And so they reluctantly agreed because I demonstrated all the math why we should be the ones who should take this company on. And we were going to be bidding, of course,

Macy Federated Alan Federated department Federated merchandising B Altman Federated Macy Bullock Marshall Minneapolis Detroit Chicago
"macy" Discussed on Wisdom From The Top

Wisdom From The Top

07:34 min | Last week

"macy" Discussed on Wisdom From The Top

"This and he just nodded. He was quiet and he just nodded. And after about 45 minutes or an hour, this just the two of us, he said, okay, he starts to walk out of my office, and I said, so, did you agree? Do you agree with my strategy? And he said, my father told me many times we have to be sure to carry water on both shoulders. And I didn't know exactly what that meant, but he went on to explain that we have to satisfy our current customer while always attempting to cultivate the new. Sounds like you really liked working for the company you like the family. You stay on as CEO of Neiman Marcus for I think about four years. And then I guess you must have been, your old friend, Alan Cuomo, because you leave a 94 to go back to Federated, was Alan the guy that recruited you to call you and say, we need you back. Well, here's what happened. Macy's came to me and said, we want to interview you for the eventual CEO role of Macy's. And I thought, wow, what a turn of events. This is. So I said, well, I'm not, you know, look, I love what I do. I'm really not that interested. I'm flattered. And they called me, they the next day and they said, you're a candidate. And I said, wow. And they sent me this envelope. And guy, you know, I said, I'm not going to take this job. This is crazy. And then I opened the zombie and I said, oh my. I've never seen numbers quite like this before. I mean, this would change my family's life, you know? This would change everything. The house I lived in, the car I drove the future of my children's, you know, I mean, it just really was very big at that time. And I just was holy macro. Should I at least consider this? And so I called my friend Alan, your former mentor, my former mentor and was still then, and my mentor and I said, Alan, look, I, you know, this is crazy, and I never even called you about this, but I just, I saw these numbers and they're ridiculous. And he said, you've never taken a job for money. It is a lot of money, but you've never taken a job from money. Why on earth would you start now? And I said, you're a 100% right. That's all I need to hear. I called them back. And I said, thank you. I've made up my mind. I'm not interested. Next day, Alan question calls me up and says, okay, well look, since you were considering leaving, I think you should consider coming back to Federated department stores. And I said, well, I really wasn't considered right. I just said this package was so ridiculous. I had to just look at it. But I really wasn't considering leaving. He said, well, what if I told you that if you came back to Federated that we could actually try to buy Macy's? And I said, now that's a very interesting idea. And long story short it took 6 months but he convinced me to come back and I went in April of 1994 and we strategized and December of 1994, we bought Macy's. Wow. And it wasn't a welcome bit. Right. So you go back to Federated and help Federated by its longtime rival Macy's. And then the two companies merge. And during this time, you're not CEO, but I guess you're sort of being set up to grow into that kind of role eventually. Yes, I was made the chief merchant head of what was called Federated merchandising. And my job was to find commonality so we could do larger buys among our various buying groups and also ease the merge between Macy's and Federated find the efficiencies, take out the waste, find the best talent, move them into the right jobs and roles and responsibilities and create hopefully a successful merger between the two companies. So I'm curious, like now, in the late 90s, was there any inkling at that point that big retail stores like Macy's might might have some headwinds down the road or at the time was it like, you know, this is great. This is going to be a hundred year 200 year business. Well, no, I didn't necessarily feel that way because when I graduated from college, I told my college roommate that I was going to work for Bullock's department stores. He said, what are you doing going to a department store? Is that a dinosaur business? I never forgot that. But he is point was there's going to be other retailing TV retailing catalogs were out and people say, oh, they're going to just shop on couch. They put an 800 number at the bottom of your catalog, and you're just going to call up. That's going to kill the department stores. You know, and so there were all these, all of these reasons why the business model of a department store was under attack for many years. Of course, the online business today is sort of the ultimate challenge. But I felt the business was under attack from many angles all through my career. And then of course, when they became highly leveraged, it happened to a lot of department stores. Federated was bankrupt, Macy's was bankrupt, bomb would tell her went out of business, B Altman's went out of business. These were largely due to having too much debt during challenging operating periods that could not be paid. So you, I mean, you are working with Alan at Federated Macy's and 2003. You become the CEO of Federated. So essentially, overseeing all these brands, including Macy's, at that time in 2003, was there a sense that this business needed to consolidate to kind of protect, you know, kind of create a moat around it. I mean, was there a sense that, all right, let's think about how we can protect our market share, our business for the next 20, 34 years. Sure. So when I became CEO, and I talked about, you know, what I hope we could do. My board was just genuinely surprised that I was so positive about this business that they had come to believe was under tremendous stress and was under huge challenge and was just flattening out and not performing. So when I got into that job, it was sort of a downer period. And I'm coming in with such enthusiasm because I can't believe I've got this great opportunity in this great job and I'm excited about it and I have these ideas. And so I came with this disbelief that we had to change in order to move forward. And within one year said, I want to buy Marshall fields. And they said, wow, wow, wow, young man. Slow down, young man. And I said, no, no, I said, we don't have any real estate in Chicago and Minneapolis and in Detroit. These are important markets and we need to become a national department store powerhouse and we need that coverage. And so they reluctantly agreed because I demonstrated all the math why we should be the ones who should take this company on. And we were going to be bidding, of course,

Macy Federated Alan Alan Cuomo Federated department Federated merchandising Neiman Marcus B Altman Federated Macy Bullock Marshall Minneapolis Detroit Chicago
"macy" Discussed on Wisdom From The Top

Wisdom From The Top

07:02 min | Last week

"macy" Discussed on Wisdom From The Top

"That we have to satisfy our current customer while always attempting to cultivate the new. Sounds like you really liked working for the company you like the family. You stay on as CEO of Neiman Marcus for I think about four years. And then I guess you must have been, your old friend, Alan Cuomo, because you leave a 94 to go back to Federated, was Alan the guy that recruited you to call you and say, we need you back. Well, here's what happened. Macy's came to me and said, we want to interview you for the eventual CEO role of Macy's. And I thought, wow, what a turn of events. This is. So I said, well, I'm not, you know, look, I love what I do. I'm really not that interested. I'm flattered. And they called me, they the next day and they said, you're a candidate. And I said, wow. And they sent me this envelope. And guy, you know, I said, I'm not going to take this job. This is crazy. And then I opened the zombie and I said, oh my. I've never seen numbers quite like this before. I mean, this would change my family's life, you know? This would change everything. The house I lived in, the car I drove the future of my children's, you know, I mean, it just really was very big at that time. And I just was holy macro. Should I at least consider this? And so I called my friend Alan, your former mentor, my former mentor and was still then, and my mentor and I said, Alan, look, I, you know, this is crazy, and I never even called you about this, but I just, I saw these numbers and they're ridiculous. And he said, you've never taken a job for money. It is a lot of money, but you've never taken a job from money. Why on earth would you start now? And I said, you're a 100% right. That's all I need to hear. I called them back. And I said, thank you. I've made up my mind. I'm not interested. Next day, Alan question calls me up and says, okay, well look, since you were considering leaving, I think you should consider coming back to Federated department stores. And I said, well, I really wasn't considered right. I just said this package was so ridiculous. I had to just look at it. But I really wasn't considering leaving. He said, well, what if I told you that if you came back to Federated that we could actually try to buy Macy's? And I said, now that's a very interesting idea. And long story short it took 6 months but he convinced me to come back and I went in April of 1994 and we strategized and December of 1994, we bought Macy's. Wow. And it wasn't a welcome bit. Right. So you go back to Federated and help Federated by its longtime rival Macy's. And then the two companies merge. And during this time, you're not CEO, but I guess you're sort of being set up to grow into that kind of role eventually. Yes, I was made the chief merchant head of what was called Federated merchandising. And my job was to find commonality so we could do larger buys among our various buying groups and also ease the merge between Macy's and Federated find the efficiencies, take out the waste, find the best talent, move them into the right jobs and roles and responsibilities and create hopefully a successful merger between the two companies. So I'm curious, like now, in the late 90s, was there any inkling at that point that big retail stores like Macy's might might have some headwinds down the road or at the time was it like, you know, this is great. This is going to be a hundred year 200 year business. Well, no, I didn't necessarily feel that way because when I graduated from college, I told my college roommate that I was going to work for Bullock's department stores. He said, what are you doing going to a department store? Is that a dinosaur business? I never forgot that. But he is point was there's going to be other retailing TV retailing catalogs were out and people say, oh, they're going to just shop on couch. They put an 800 number at the bottom of your catalog, and you're just going to call up. That's going to kill the department stores. You know, and so there were all these, all of these reasons why the business model of a department store was under attack for many years. Of course, the online business today is sort of the ultimate challenge. But I felt the business was under attack from many angles all through my career. And then of course, when they became highly leveraged, it happened to a lot of department stores. Federated was bankrupt, Macy's was bankrupt, bomb would tell her went out of business, B Altman's went out of business. These were largely due to having too much debt during challenging operating periods that could not be paid. So you, I mean, you are working with Alan at Federated Macy's and 2003. You become the CEO of Federated. So essentially, overseeing all these brands, including Macy's, at that time in 2003, was there a sense that this business needed to consolidate to kind of protect, you know, kind of create a moat around it. I mean, was there a sense that, all right, let's think about how we can protect our market share, our business for the next 20, 34 years. Sure. So when I became CEO, and I talked about, you know, what I hope we could do. My board was just genuinely surprised that I was so positive about this business that they had come to believe was under tremendous stress and was under huge challenge and was just flattening out and not performing. So when I got into that job, it was sort of a downer period. And I'm coming in with such enthusiasm because I can't believe I've got this great opportunity in this great job and I'm excited about it and I have these ideas. And so I came with this disbelief that we had to change in order to move forward. And within one year said, I want to buy Marshall fields. And they said, wow, wow, wow, young man. Slow down, young man. And I said, no, no, I said, we don't have any real estate in Chicago and Minneapolis and in Detroit. These are important markets and we need to become a national department store powerhouse and we need that coverage. And so they reluctantly agreed because I demonstrated all the math why we should be the ones who should take this company on. And we were going to be bidding, of course,

Macy Federated Alan Alan Cuomo Federated department Federated merchandising Neiman Marcus B Altman Federated Macy Bullock Marshall Minneapolis Detroit Chicago
"macy" Discussed on Wisdom From The Top

Wisdom From The Top

08:00 min | Last week

"macy" Discussed on Wisdom From The Top

"And then a couple of years later, a year and a half or so later, I guess. I brought him into my office. You know, we were transitioning my first my first year, but our business wasn't great. It was just bouncing along. But it wasn't great. And I said, we need this strategy in order for us to move the business forward. And it was talking about expanding beauty, expanding the men's department, offering some price points that were more balanced, not everything was going to be luxury at that time. And I explained all this and he just nodded. He was quiet and he just nodded. And after about 45 minutes or an hour, this just the two of us, he said, okay, he starts to walk out of my office, and I said, so, did you agree? Do you agree with my strategy? And he said, my father told me many times we have to be sure to carry water on both shoulders. And I didn't know exactly what that meant, but he went on to explain that we have to satisfy our current customer while always attempting to cultivate the new. Sounds like you really liked working for the company you like the family. You stay on as CEO of Neiman Marcus for I think about four years. And then I guess you must have been, your old friend, Alan Cuomo, because you leave a 94 to go back to Federated, was Alan the guy that recruited you to call you and say, we need you back. Well, here's what happened. Macy's came to me and said, we want to interview you for the eventual CEO role of Macy's. And I thought, wow, what a turn of events. This is. So I said, well, I'm not, you know, look, I love what I do. I'm really not that interested. I'm flattered. And they called me, they the next day and they said, you're a candidate. And I said, wow. And they sent me this envelope. And guy, you know, I said, I'm not going to take this job. This is crazy. And then I opened the zombie and I said, oh my. I've never seen numbers quite like this before. I mean, this would change my family's life, you know? This would change everything. The house I lived in, the car I drove the future of my children's, you know, I mean, it just really was very big at that time. And I just was holy macro. Should I at least consider this? And so I called my friend Alan, your former mentor, my former mentor and was still then, and my mentor and I said, Alan, look, I, you know, this is crazy, and I never even called you about this, but I just, I saw these numbers and they're ridiculous. And he said, you've never taken a job for money. It is a lot of money, but you've never taken a job from money. Why on earth would you start now? And I said, you're a 100% right. That's all I need to hear. I called them back. And I said, thank you. I've made up my mind. I'm not interested. Next day, Alan question calls me up and says, okay, well look, since you were considering leaving, I think you should consider coming back to Federated department stores. And I said, well, I really wasn't considered right. I just said this package was so ridiculous. I had to just look at it. But I really wasn't considering leaving. He said, well, what if I told you that if you came back to Federated that we could actually try to buy Macy's? And I said, now that's a very interesting idea. And long story short it took 6 months but he convinced me to come back and I went in April of 1994 and we strategized and December of 1994, we bought Macy's. Wow. And it wasn't a welcome bit. Right. So you go back to Federated and help Federated by its longtime rival Macy's. And then the two companies merge. And during this time, you're not CEO, but I guess you're sort of being set up to grow into that kind of role eventually. Yes, I was made the chief merchant head of what was called Federated merchandising. And my job was to find commonality so we could do larger buys among our various buying groups and also ease the merge between Macy's and Federated find the efficiencies, take out the waste, find the best talent, move them into the right jobs and roles and responsibilities and create hopefully a successful merger between the two companies. So I'm curious, like now, in the late 90s, was there any inkling at that point that big retail stores like Macy's might might have some headwinds down the road or at the time was it like, you know, this is great. This is going to be a hundred year 200 year business. Well, no, I didn't necessarily feel that way because when I graduated from college, I told my college roommate that I was going to work for Bullock's department stores. He said, what are you doing going to a department store? Is that a dinosaur business? I never forgot that. But he is point was there's going to be other retailing TV retailing catalogs were out and people say, oh, they're going to just shop on couch. They put an 800 number at the bottom of your catalog, and you're just going to call up. That's going to kill the department stores. You know, and so there were all these, all of these reasons why the business model of a department store was under attack for many years. Of course, the online business today is sort of the ultimate challenge. But I felt the business was under attack from many angles all through my career. And then of course, when they became highly leveraged, it happened to a lot of department stores. Federated was bankrupt, Macy's was bankrupt, bomb would tell her went out of business, B Altman's went out of business. These were largely due to having too much debt during challenging operating periods that could not be paid. So you, I mean, you are working with Alan at Federated Macy's and 2003. You become the CEO of Federated. So essentially, overseeing all these brands, including Macy's, at that time in 2003, was there a sense that this business needed to consolidate to kind of protect, you know, kind of create a moat around it. I mean, was there a sense that, all right, let's think about how we can protect our market share, our business for the next 20, 34 years. Sure. So when I became CEO, and I talked about, you know, what I hope we could do. My board was just genuinely surprised that I was so positive about this business that they had come to believe was under tremendous stress and was under huge challenge and was just flattening out and not performing. So when I got into that job, it was sort of a downer period. And I'm coming in with such enthusiasm because I can't believe I've got this great opportunity in this great job and I'm excited about it and I have these ideas. And so I came with this disbelief that we had to change in order to move forward. And within one year said, I want to buy Marshall fields. And they said, wow, wow, wow, young man. Slow down, young man. And I said, no, no, I said, we don't have any real estate in Chicago and Minneapolis and in Detroit. These are important markets and we need to become a national department store powerhouse and we need that coverage. And so they reluctantly agreed because I demonstrated all the math why we should be the ones who should take this company on. And we were going to be bidding, of course,

Macy Federated Alan Alan Cuomo Federated department Federated merchandising Neiman Marcus B Altman Federated Macy Bullock Marshall Minneapolis Detroit Chicago
"macy" Discussed on Wisdom From The Top

Wisdom From The Top

07:53 min | Last week

"macy" Discussed on Wisdom From The Top

"And within just a matter of months, Alan question was recruited back to Federated because Federated was bankrupt. So you become the CEO of Neiman Marcus. Yeah, I became the CEO of Neiman Marcus, right? Then chairman and CEO. Stay with us. We're going to take a quick break. I'm guy Roz and you're listening to wisdom from the top. This message comes from NPR sponsor, ameriprise financial. Chief market strategist, Anthony sagal and Benny shares the value of working with the financial adviser during times of uncertainty. If you have a partner dedicated to making sure your goals and your strategy and your risk tolerance are aligned, I think you can be more confident about navigating this uncertainty. For more information and important disclosures, visit ameriprise dot com slash advice Ameriprise Financial services LLC, member finra and SIPC. Support for NPR and the following message come from Georgetown university, advance as a principal business leader with an executive MBA from Georgetown, ranked first in the D.C. region, the programs renowned faculty, diverse cohorts, global alumni network, and unique mentorship program, armed students with the strategic skills and connections needed to take charge in global business. Learn more at MSB dot Georgetown dot EDU slash EMBA and PR. On bullseye, we bring you the best stuff in popular culture. Like Tom Hanks, as you've never heard him before. Mad. You moron. Thank you for the use of the turn signal. Where to use your blinker. Idiot. That's bullseye for maximum fun dot org and NPR. Welcome back to wisdom from the top. I'm guy Roz. You were 37. And I read that when you were appointed the sea of new Marcus, there was a lot of head scratching in the retail world and the fashion world because you were not known. Do you remember that? Do you remember that criticism of that pushback or people, who is this guy? I sure do. It was definitely all of what you just described. I was not a welcome addition there, but because you can see that I'm sort of disrupting this, what had been a family run business for decades. And what do I know? Most of my career was at the Bullock's department stores. Now I was for a short period of time running a very luxurious business similar to Neiman Marcus, but Neiman Marcus was significantly bigger than Bullock's Wilshire and I magnan combined. So this was a big leap for me for sure. And there was a lot of people wondering how long I would last. Yeah. First thing I did was I just got out and I went to every store. I went and visited every single store, walked through the store, spent a day in each one, really understood who the people were, what our strengths were, what the product was, what was working, what wasn't working. It really got a grounds up. Understanding of what I thought was not working and really listening to the people in the stores, the feet on the ground, if you will, about what the consumer is saying. What was the challenge in 1990 at Neiman Marcus, why was the company not performing well? We didn't have the emphasis on certain businesses that were growing. We basically treated certain businesses the same way for many, many years. And of course, the business had shift. At that point, beauty can't was becoming a much more important business. And even Marcus didn't even have beauty at the front door. There were things like that. I said, you know, why don't we just try this one? We just try putting beauty at the front door and expanding the footprint and going after some of these new brands that we don't carry today. And of course, this is what the consumer wanted. This is what our customer wanted. And so we were able to lift sales and things like that nature. This is a family company, Stanley Marcus. I think his grandfather was one of the founders of this company in Dallas and it's their companies. Their family's name on the front of the store. Was that challenging? I can imagine that if you come in with a bunch of different ideas, you know, it's not going to go over too well all the time. It's so true. This is really early on when I was CEO. I'm walking into a restaurant and I see Stanley Marcus walking out of the restaurant. Now, if Stanley had nothing to do with the store, and he was a bit ostracized from the private equity firm who, you know, they didn't really talk respectfully to each other and he just stayed away from the store. And so I see him and I said, mister Marcus, my name is and he said, I know who you are. Just like kind of barked at me and I thought, oh oh, this isn't good. I said, mister Marcus, I would just love to sit down with you and just talk to you about the Neiman Marcus and about your thoughts and beliefs. There's so much to learn. I would just love to have your ear sir. If I can just do that, may I may I visit you or can we have lunch? And he said, I won't come to your store, but you can come to my office. Call me in the morning. I said, yes, sir. I will. I mean, by the way, you were the CEO of the company. That's right, but he didn't really have much to do with it at that point in time. So he just had his name on the door. That's the way I looked at it, which was pretty powerful. And so I went over to see him and visited with him and I think we ended up getting along more quickly than either of us thought we would. And I just was a sponge. This guy was brilliant. This guy, you know, invented luxury retailing as far as I was concerned. And so I had so much to learn. I didn't really know all of the answers. I didn't fully understand this luxury consumer and what their desires were. And so I met with Stanley on a very regular basis, and I finally got him to come over to what it was called the zodiac room, our restaurant at Neiman Marcus downtown Dallas, and I'll never forget that day. When I'm sitting in the restaurant, Stanley Marcus, the two of us, and I'm looking around and eyes are popping out of the heads of all the employees in the, in the building, particularly my executives. And all of a sudden, they thought I wasn't such an idiot after all, because I was surrounding myself with Stanley market. And if Stanley Marcus is listening to me, maybe they might want to do that too. And so that was a huge breakthrough. He gave me the credibility that I did not have coming in without the experience in the luxury category. And I am forever grateful, always will be. I mean, it really sounds like, I mean, you got there and clearly you knew that people looked at you as like, who is this guy, you know? You very consciously cultivated this sort of Lion, right? And knowing that if you could learn from him, then maybe give you some legitimacy. There's no question about it. And it's true. And they were right. They were right to question me. You know, I didn't have, I didn't have the resume that would say this is a slam dunk, put Terry lundgren in this job and he's going to knock the cover off the ball. That was not the case. And Stanley gave me the credibility to move the dial ahead probably a year and a half or so faster than otherwise would have been possible because he gave me the credibility that I did not have walking in there without a resume to support my vision. Yeah.

Neiman Marcus Stanley Marcus NPR ameriprise financial Federated because Federated Roz Anthony sagal Ameriprise Financial services mister Marcus Bullock's department Marcus SIPC finra Georgetown university Benny Tom Hanks Georgetown Alan D.C.
"macy" Discussed on Wisdom From The Top

Wisdom From The Top

02:02 min | Last week

"macy" Discussed on Wisdom From The Top

"To Macy's and after the buyout, what you take off. Well, I didn't take off. I was actually let go. You know, the company had already been bought. I was getting ready to meet my new bosses, which were the CEO and the COO, chief operating officer of Macy's for flying to meet me. I'm walking in at 7 o'clock in the morning and my phone's ringing. And it was a reporter who I know. Ed nardos. He's still there at women's wear daily. And he was

Macy COO Ed nardos
"macy" Discussed on Wisdom From The Top

Wisdom From The Top

08:02 min | Last week

"macy" Discussed on Wisdom From The Top

"Department store. In Boston, it was filene's, in Chicago, Marshall fields, Philadelphia, had wanamakers in Milwaukee. It was gimbals and so on. They had marble floors and glass atriums and glamorous T salons, and these stores all had strong regional identities. They cater to their regional customers. But by the early 21st century, as ecommerce started to disrupt traditional retail, many of these stores couldn't survive on their own. And became part of bigger national chains, particularly Macy's. And the idea to create a national department store chain was largely Terry lundgren's. Terry was instrumental in turning Macy's into the biggest department store brand in the world. At one point under his leadership, the company's stock hit an all time high. Today, of course, the retail landscape is much, much more challenging. A downward trend Terry started to see towards the end of his time in Macy's. Terry grew up in a family of 6 kids in Orange County, California. He was a pretty good student, but in college at the university of Arizona, he spent a lot less time on academics and a lot more time on his social life. Until one day, have his junior year when he received an unexpected phone call from his dad. And he said, son, I saw your report card. Anyway, I said, oh yeah, I said, you know, those professors have it out for me. You know, they're just not giving me a chance. And I started having all these stupid excuses. And he said, well, I'm sorry about that. He said, listen, your mom and I have talked about this. And we are no longer able to fund your education. And I remember saying to him, dad, you don't understand. You're ruining my life and he just a little pause at the end. I can hear my mom, I think she was crying a little bit in the background. My dad said, son, if that's how you choose to see it, it's you, who's made the decision to ruin your life, not me. And I was like, wow, okay. Got the message. And hung up the phone and started thinking about what am I gonna do? Yeah. Long story short, I went to apply for jobs and I remember going into this restaurant called the solarium restaurant became a waiter and then a head waiter and I became manager of that restaurant. So you graduate and you work in the restaurant for a while and it sounds like you were sort of going to pursue a job at a big company. You were looking around. I guess you got an offer to go work for Xerox, which in the mid 70s, like that's, that was a place to go. I mean, that was like, I was like going to Apple or Google today. Yeah, that was a big deal. I had 13 job offers when I graduated. But I had accepted the job from Xerox because that was a cool company. And they were the highest paying at the time as well. And this is going to be, this is going to be like just a sales job or like a marketing job. Yes. It was a sales training job. And all of the 12 or 13 of us, we all looked the same. It was mostly men, but some women and we all basically looked the same and talked to same and had the same sort of background and education and worked hard and all of that. But I just didn't feel like there was anything unique about it. But they were paying the most and frankly. I needed to pay off the little debt that I still had for college, and I needed I was desperate for a new car. And so that money was a motivator. And then even though I had accepted this job, I took an interview of final interview with Bullock's department store in Los Angeles because it was going to be on a Friday. So bullocks for people to remember was a department store. Mostly in Southern California, I think, right at the time. Yes. And they had a bunch of people come in. I'm the last one. And the college recruiter says, I'm going to give you a job offer right now. We want you to come work for our company. And I said, wow, that's great, and I'm honored. But I think I'm going to take this other offer that I have from Xerox. He says, I want you to meet someone. He takes me upstairs, and he sits me down, and the person I'm sitting across with is a guy by the name of Alan. He was a senior vice president at the time. I was so impressed with this guy, and the fact that he would take 30 minutes with me, one on one. I was blown away by that. And he was 35, I think, and I was 21 and I was looking up at him and thinking, gee, I wonder when I'm 35, I could be something like this guy. Yeah. And he's telling me, we're gonna start you on Monday. I said, well, sir, I still have to go back to school. I haven't graduated yet. He goes, yeah, yeah, okay. So Monday you start and we're gonna put you in the electronics. I said, sir, and if I finally just stopped arguing with us this guy, this guy was so passionate. And so I just ended up saying, you know what? I love this. I love these people. I love these guys. I love this company and this culture that I'm seeing sounds like place where I could go to work. Wow. And then they said, well, we're took me back and he said, we're going to pay you the NBA rate, even though I had a bachelor's degree. And the NBA rate was still a little bit less than what Xerox was paying, but I took it to cans and that was the deal. And you were hired as like just a trainee trainee. And this is, at this time, I think bullocks was owned by Federated, and if you went into a Bullock's in the late 70s, you would find everything right you'd find clothes and consumer electronics and watches and makeup. It was right like it was one stop shop for all that stuff. Yes, you'd have everything that Macy's would have today, but you would also have, you know, even yarns and fabric and they really had a much broader assortment then. And stationary, you know, customized stationary with your initials printed on it, all those, all those things were all part of the department stores back then. And it was big business, right? And this was these companies were like extremely profitable. Very much so, a very big, very successful. They were the place to shop. There was there was far fewer specialty stores. There really wasn't the off price business that you see today. And of course, there was no online business. So this is what people did. I mean, they made it a regular, particularly weekend event where the families would come and spend three hours. It was really a kind of a cultural event for many families in back in those days. I can imagine you're kind of climbing up the ladder, you know, you start as a trainee, and then eventually get greater and greater promotions, you become a VP of this division and that division at bullocks and then all the way to becoming the head of Bullock's Wilshire, which was their kind of upscale chain of department stores. I can imagine that you probably saw a life for yourself at Federated with all these brands I magnan Bloomingdale's you could climb up that corporate ladder and eventually retire in that company. I did. In fact, I was so excited to be named the president of bullocks Wilshire when I was 35, I replaced a 67 year old, and so when I was able to snatch that, that position, I honestly thought that, you know, I could be there for 30 years. I thought this is gonna be it. I did it, you know? I'm done. Yeah, but in just a year, your plans change. This is like, I guess 1988 because Federated department stores who owned bullocks got bought out by a Canadian company and then that company sold bullocks where you worked and then some other West Coast stores

Macy Terry Xerox Terry lundgren Marshall fields filene university of Arizona Milwaukee Bullock Orange County Philadelphia Boston Chicago NBA California Southern California Apple Federated Google bullocks
Mall of America Security Asked Man to Remove 'Jesus Saves' Shirt

ToddCast Podcast with Todd Starnes

01:55 min | Last week

Mall of America Security Asked Man to Remove 'Jesus Saves' Shirt

"Ball policy forbids picketing demonstrating soliciting protesting or petitioning on the premises of the mall of America. They need to rename the ball. I mean, if you're not gonna let somebody walk around the ball, wearing a Jesus saves T-shirt or remember back in, I remember back in the 90s, it was all the rage in the Christian churches to have the clever messages in the T-shirt, so it would be like a Budweiser can, but it wouldn't be a Budweiser cannon, it actually said be wiser instead of okay, maybe that's only the baptist church tradition. So anyway, I mean, if they're gonna do that, they may as well just rename that instead of the mall of American, maybe the ball of Fallujah. Or the ball of Baghdad, so anyway, they're given the guide the what for and telling him that he can not wear that shirt in the mall. The man the security guard told the man, I'm giving you a couple of options. You can either take your shirt off and you can go to Macy's and you can do your shopping or you could leave them all. Well, those don't sell life very good options. Anyway, they went back and forth and it turns out that the mall said they finally did allow them in to continue his shopping. But a lot of Christians around the country, this story is sort of gone viral on social media. And a lot of Christians are very offended by this. And they say there's no way this should be happening in America. The guy has a right to free speech to where that shirt. And freedom of religion to practice his faith in the public place. Yes, but I will say that. I mean, the mall of America is not a public place. It's a private mall. People are allowed to go and shop there, but again, I just don't see what's terribly offensive about the T-shirt.

America Fallujah Baptist Church Baghdad Macy
Jeff Beck, guitar god who influenced generations, dies at 78

AP News Radio

00:45 sec | 2 weeks ago

Jeff Beck, guitar god who influenced generations, dies at 78

"Guitarist Jeff Beck has died after suddenly contracting bacterial meningitis, according to his representatives, Beck was 78. And marches are a letter with a look at his life. Jeff Beck's first guitar was the one he built as a boy out of a cigar box, a picture frame and the string from a toy airplane. After that, his instrument of choice was the fender Stratocaster. Beck was known for The Yardbirds for his own band for working with Rod Stewart and appearing on records with access diverse as Macy gray, Luciano Pavarotti, winona Judd and Johnny Depp. Paige was inducted into The Rock and Roll Hall of Fame twice. He went in with The Yardbirds in 1992, patrons low key during his induction as a solo act in 2009. I've been naughty all my life and I don't deserve this at all. But I shall continue to be naughty, I think

Jeff Beck Beck Bacterial Meningitis Winona Judd Roll Hall Of Fame Rod Stewart Macy Gray Luciano Pavarotti Johnny Depp Paige
Wall Street Is Bracing Itself for a Challenging 2023

The Trish Regan Show

01:46 min | 2 weeks ago

Wall Street Is Bracing Itself for a Challenging 2023

"A time like this, I want to turn to the economy because market was up most on Monday and I was looking at it saying, you know what? It just doesn't make any sense. It really doesn't, and then sure enough, in the last hour of trading, we wound up losing over a hundred points on the Dow, which did actually make sense. And the reason why losses make sense at a time like this is because there's more where that came from. If you know what I mean. Look, we've got a very troubled economy right now. We've got lots of inflation that is not going to go away. We've got a Federal Reserve that now is coming out a couple of members of the fed actually said today a couple of fed board governors rates would be above 5% for a long time, already we're seeing an increase in the number of layoffs in the news Goldman Sachs prominent financial firm saying that it's going to slash 3200 jobs. That's a lot that's a pretty big deal because it's anticipating these really challenging times in 2023. You have Amazon, laying off 18,000, you have Macy's closing stores. I mean, look all the handwriting is there. It should, politically, be setting the Republican Party up for home run in 2024 because Americans are going to be kind of desperate by that point for change for something better. However, I would constant this. It's really important that the Republican Party get its act together. It's really important that these kinks get worked out in the here and now, and we can't actually wait until the 11th hour in 2024. Joe Biden is running again he made that very clear he had time apparently to think on his fancy vacation in the Caribbean at a donor's home that he was staying at. I suspect the Democrat party may be somewhat relieved at this because their options were looking so good. I mean, Kamala Harris, you just can't put her out there. I'm telling you anyone can beat Kamala Harris.

FED Republican Party Goldman Sachs Macy Amazon Joe Biden Democrat Party Caribbean Kamala Harris
AJ Reflects on the Lack of COVID Christmas Spirit

AJ Benza: Fame is a Bitch

01:33 min | Last month

AJ Reflects on the Lack of COVID Christmas Spirit

"I understand it's hard to get into the Christmas spirit with all that's going on this week. This month this year, the last 11 months, my God, people have died. The country's up in the ass who knows where it's going, whether you like Trump or not, you can't love Biden. It's fucking out of it. It's just insane. COVID shut down. And there's very little around the neighborhood to make you feel jolly. There are very little Christmas lights hung on houses around me, that's a turn off. I take the dog out for a walk at night. I don't see many houses, you know, lit up like, you know, I just, I love that shit. It's not happening this year. And you fucking Democrats, you liberals, you're not doing it. The Republican, the conservative families, you're doing it. What's your problem? Your guy won. Why don't you light your fucking house up? I'll never get that. I try to go shopping. And I see the fucking nonsense. Needless lines out the door. Why? Why? Who the fuck is gonna get COVID inside Macy's? We're all wearing masks. I don't get it. Fauci, you fuck. I don't get it. Why can we all walk onto an airplane and sit three fucking inches apart, but we can't shop at Nordstrom's Macy's or wherever the hell do you want to go?

Biden Macy Fauci Nordstrom
Tree lighting, concert at Rockefeller Center lights up New York

AP News Radio

00:54 sec | 2 months ago

Tree lighting, concert at Rockefeller Center lights up New York

"New York's Rockefeller center Christmas tree is all aglow after a star studded concert and lighting ceremony. It's beginning to look a lot like Christmas in midtown Manhattan. NBC broadcast the Rockefeller center Christmas tree lighting ceremony Wednesday night, an event that featured hosts from The Today Show and artists including Catherine mcphee, Alicia Keys, Blake Shelton and Gwen Stefani. The tradition of the tree started with one put up by construction workers building the center in 1931. This year's 82 foot Norway spruce from queensbury, New York, was decorated with 50,000 multi colored LED lights and a crystal star weighing 900 pounds. Audio courtesy and BC. Absent from the ceremony was 68 year old Today Show weatherman Al Roker, who has been battling health issues and reportedly returned to the hospital after missing his first Macy's Thanksgiving Day parade in 27 years. I'm Jennifer King

Rockefeller Center Catherine Mcphee New York Blake Shelton NBC Alicia Keys Manhattan Gwen Stefani Queensbury Norway Al Roker Macy Jennifer King
Santa's back in town with inflation, inclusion on his mind

AP News Radio

01:02 min | 2 months ago

Santa's back in town with inflation, inclusion on his mind

"After two holiday seasons with COVID-19 precautions, Santa Claus is coming to town. Merry Christmas to everyone. The jolly old elf is back this year in person without plastic partitions or faraway benches. And kids once again sitting on Santa's lap, except at Macy's in Herald square, where Santa sits behind a bench. The company hires Santa dot com, says there's been a 30% increase in bookings this year compared to the last two seasons. Although COVID fears are easing, inflation is taking some of the twinkle up. Santa's eyes, many of the portrayers are older. They live on fixed incomes and bending under the weight of higher prices. But at least one companies paying more around 5 to $12,000 for the holiday season. Sandra Booker say this year, there's a higher demand for inclusivity, meaning they're looking for santas who are black or Spanish speaking, and those who know sign language. I Jackie Quinn

Herald Square Santa Claus Santa Macy Sandra Booker Jackie Quinn
Why Do We Need Trannies in the Macy's Thanksgiving Parade

AJ Benza: Fame is a Bitch

01:52 min | 2 months ago

Why Do We Need Trannies in the Macy's Thanksgiving Parade

"By the way, I was watching the Macy's Thanksgiving Day parade. Why do I have to see drag queens? Get screen time, why do we need this? You know, I got to ask my good family friend who produces this extravaganza every year. I know him, I know Jordan since he was two years old, Jack and his dad were friends in high school and college and I mean, I've known Jordan for over 50 years. Great kid, he produces the Macy's parade, also the firework show, he does great work, but I don't want to see drag queens, JoJo, what are we doing here? I'm gonna reach out and ask him what the hell, look, maybe he comes up from way up high because he produces a shell, but it could be people above him going, hey, we need this thing here. You know, every year the Macy's Thanksgiving parade always features some of New York's Broadway plays to be featured. I don't want to see grown men dressed as women and looking like freaks, by the way. While the family is all together to give thanks. Why do we need this? You got why not kids looking with wonder as the massive floats go down the streets of New York City. Spider-Man. This SpongeBob. They're stupid. And then what is this? Oh, another opportunity to make sure the whole world gives thanks to the LGBTQ people. Why? Why are we always doing this? We're doing it the fucking World Cup, they have a month of June, but it just keeps on going. How insecure can this group of people be? How much attention do they need?

Macy Jordan Jack New York New York City
NYPD: No known threats to Macy's parade, but tight security

AP News Radio

00:52 sec | 2 months ago

NYPD: No known threats to Macy's parade, but tight security

"Police in New York say their planning tight security around the Macy's Thanksgiving Day parade in the wake of mass shootings in Colorado and Virginia. Police say there is no known credible threat to the event, but they say they'll deploy additional resources to ensure the festivities across the city are safe for all. The parade comes just two days after a manager at a Walmart in Chesapeake, Virginia, shot to death 6 people, and then himself, and four days after 5 people were shot to death at a gay nightclub in Colorado Springs, Colorado, Macy's is promising that the parade will be bigger and better this year than ever before, and the event is starting at 8 45 a.m. this year instead of 9 to accommodate all the balloons, floats, marching bands, and other participants. I'm Donna water

Macy Virginia Colorado New York Chesapeake Walmart Colorado Springs Donna
A Prayer for Thanksgiving

Your Daily Prayer

02:04 min | 2 months ago

A Prayer for Thanksgiving

"States celebrates this holiday of God's provisions. Many of us will be cooking casseroles watching the Macy's parade, playing football in the backyard, and visiting with loved ones. This is not just a gathering. This is an opportunity to live out, giving thanks in all circumstances. This is not just God's will for one day a year. But for every day of our lives, as we pray for Thanksgiving May it remind us to be thankful always. Let's pray. Dear lord, thank you for holidays. Thank you for times when we gather with loved ones and celebrate all of your blessings. We pray that this Thanksgiving is a time of great gratitude and love for those around us. Whether relationships are strong or rocky. We are grateful for the opportunity to invest in them and nurture them. Thank you for the witnessing opportunities many of us will have with family or friends. Help us not to live in a spirit of fear, but of power and confidence in you. May our words of the gospel be pleasing like honey to them. Would you open their eyes to see the truth and that it will set them free?

Football
Macy's Thanksgiving Parade-Parade intro and wrap

AP News Radio

00:52 sec | 2 months ago

Macy's Thanksgiving Parade-Parade intro and wrap

"Thanksgiving is a week away and producers of the 96th annual Macy's Thanksgiving Day parade in New York are showing off 6 new floats Some of these floats look familiar Besides baby shark there's Jeffree's dazzling dance party by Toys "R" Us and there is a float about a new movie World of dreams You can't wish for whatever you want here on slumberland Art director Eric hudspeth says a lot of work went into the slumberland float It started with the design and it goes into 3D modeling and then from there we go into drafting and engineering and carpentry steel all of it Executive producer will cross as the goal for all the Macy's floats is to create moments on the street that are immediately recognizable and impactful So whether it be a character whether it be a creative direction for one of our floats and all these Macy's floats are huge as much as 30 feet high I'm Ed Donahue

Macy Eric Hudspeth Slumberland New York Ed Donahue
What Do We Really Know About Any of These Candidates?

The Doug Collins Podcast

01:45 min | 2 months ago

What Do We Really Know About Any of These Candidates?

"Comes is what do we really know many times about these candidates? Because the idea that these Lincoln Douglas filed a Macy's grand Tories of what people believe are where we find this out, we're just not seeing it anymore. You're having more limited discussion with Canada's even with the media. You're having a media that is much more hostile and much more biased. We see Carrie Lake is frankly fueling an entire campaign on the fact that she's fighting with what she is following up on what Donald Trump has said and president Trump said, fake news. Because they will constantly ask her about things that she will clarify and then they go back at it, you know, from a different angle, basically because they want to paint her as a French candidate and the media has taken that feeling that that is their role. So she's now turned it as many candidates have turned and said, look, I'm just not even going to deal with you. You're not, you know, you're not going to give an interview. I'm not going to sit down with you because you're not going to give us a fair shake. I have experienced that before. I've turned down radio interviews. I've turned down some other interviews, because I just was tired of dealing with a biased opinion. I can handle an honest question. What I don't like in many candidates don't lie, both Republicans and Democrats is when they feel like they're being attacked and that the interviewer is pressing their own political agenda. Now, if it's another candidate, I'm going to debate, I expect the other candidate to push your political agenda. I do not expect a journalist to push a political agenda or take what I have said. And then even though it is truthful, it is factual and what I've said then try to tear that down with their own opinion or their own version of the story. This is why I think people are getting more and more frustrated.

Lincoln Douglas Carrie Lake President Trump Macy Donald Trump Canada
Sen. Tommy Tuberville Shuts Down the Idea of Reparations

ToddCast Podcast with Todd Starnes

01:54 min | 3 months ago

Sen. Tommy Tuberville Shuts Down the Idea of Reparations

"Senator Tommy tuberville made some comments over the weekend that have really triggered the left. The senator was speaking at a Trump rally and here's what he had to say about the Democrats and reparations. Some people say, well, they're soft on crime. No, they're not soft on crime. They're program. They won't cry. They won't cry because they want to take over what you got. They want to control what you have. They want reparation because they think the people that do the crime are owed that. Bull. They are not old that. So now they're out there accusing tuberville a being a racist and CNN MSNBC among those that are out there saying, well, we all know that's just code. We know, well, did you hear the word black? Did you hear any skin color referenced in that in that sound bite? No, of course not. Because it's not true. Now you say Todd, how can you say that? How can you say it's not true? Well, it's very clear to me it's not true because we went back and again on this program we have a vast vault, where we store these incredible little audio nuggets. And we know for a fact that Black Lives Matter back in the year 2020, actually said that looting is reparations cut number 8. If somebody decides to loot a Gucci or a Macy's or a Nike, because that makes sure that that person eats. That makes sure that that person has clothes. That's reparations. That is reparations. Anything they want to take, take it because these businesses have insurance. They're going to get their money back. My people aren't getting anything. There you go. That was the leader of the Chicago Black Lives Matter. Back in 2020, those

Senator Tommy Tuberville Tuberville Msnbc CNN Todd Nuggets Macy Gucci Nike Chicago
Americans splurge on beauty, despite pullbacks elsewhere

AP News Radio

00:45 sec | 5 months ago

Americans splurge on beauty, despite pullbacks elsewhere

"While many Americans are cutting back on spending there is one thing many women have not skimped on cosmetics Target Kohl's Macy's and Nordstrom all highlighted strong sales of beauty items in their fiscal second quarter earnings reports issued over the past few weeks ultra beauty the largest beauty retailer in the country set overall sales spike nearly 17% in its most recent quarter compared to the same period last year That's because Americans once stuck behind zoom screens and wearing workout clothes are out and about wanting to look their best At target beauty product sales were up while home goods clothing and electronics all suffered declines I'm Shelley Adler

Kohl Nordstrom Macy Shelley Adler
How the Heck Did Chris Stigall Lose 90 Pounds?

America First with Sebastian Gorka Podcast

01:40 min | 9 months ago

How the Heck Did Chris Stigall Lose 90 Pounds?

"Let's reach out to the man that keeps Philadelphia seen every single morning. A.m. 9 90s, the answer we call him crystal, but I'm not sure he is because I see this svelte individual is fit individual. He doesn't have the COVID extra 30 pounds. Is that really Chris? Brother, it is. It's me 90 less these days. I've got it. I'm trying to show off. I'm trying to strutting around the world. I went to a awards ceremony last night and people said, you look good. Yeah, 26 pounds. That's how good I look. And then you say yes. A small man on you like I was. I mean, I was a husky fella, you know that. You had, you know, you got what, a couple of pounds to lose. And you look great. I was, I was getting into that sort of, I don't know. You could have had a guy wires attached to me and entered me in as afloat in the Macy's day parade. I was getting that size. All right, before we talk about disgusting things like politics, let's share our happiness at what we've both done. I'm the amateur, you're the pro. I did this with amazing woman doctor Ashley Lucas at PhD weight loss and nutrition. My wife and I, 5 weeks, 26 pounds for me, 18 for her with super happy guys if you're interested, I'll give you the details later. How the hell did you lose 90 pounds, dude? I mean, I could plug him if you want me to. Yes, he's also a waiter. That's true. All right. His next doctor Rick tagg, TA GUE, doctor Rick tag at a place called the center for nutrition. And my old stomping grounds and my kind of original hometown of the Kansas City metro area. Doctor tig is spectacular. He put me on a weight loss program and I dropped 90 pounds from January to October of last

Ashley Lucas Philadelphia Chris Macy Rick Tagg Rick Tag Center For Nutrition Kansas City
Shopping Malls (MM #4048)

The Mason Minute

01:00 min | 10 months ago

Shopping Malls (MM #4048)

"The NASA minute. With Kevin mason. The way we shop is changed so much over the years. In my younger years, it was going to the shopping center with all the parking spaces and you'd basically have to go from store to store outside in the cold, exposed to the elements in the late 60s into the 70s and 80s, the shopping mall became the big thing, but as time wore on, people began to turn away from the shopping mall. When I started coming to national in the 1980s, the shopping malls that were here are pretty much all closed now. But recently, the one that used to be the big daddy of them all here in Nashville, which closed down in the early 2000s, has been bought by the city. And what once was Hickory hollow mall then became global mall at the crossings, is now going to become, well, a little bit of everything. There will be a school in the former Macy's. Part of them all will become part of Vanderbilt university's medical center. And who knows what else is going to be? I wonder what happened to the shopping mall and why it was so important for such a short time and then gone almost as quickly. The mall culture of the 1980s and 90s is now long gone. And sometimes when you try to tell young people about it, they kind of look at you and stare. They don't quite understand.

Mason Minute Kevin Mason Baby Boomers Life Culture Society Musings Hickory Hollow Mall Nasa Vanderbilt University's Medica Nashville Macy
Shopping Malls (MM #4048)

The Mason Minute

01:00 min | 10 months ago

Shopping Malls (MM #4048)

"The NASA minute. With Kevin mason. The way we shop is changed so much over the years. In my younger years, it was going to the shopping center with all the parking spaces and you'd basically have to go from store to store outside in the cold, exposed to the elements in the late 60s into the 70s and 80s, the shopping mall became the big thing, but as time wore on, people began to turn away from the shopping mall. When I started coming to national in the 1980s, the shopping malls that were here are pretty much all closed now. But recently, the one that used to be the big daddy of them all here in Nashville, which closed down in the early 2000s, has been bought by the city. And what once was Hickory hollow mall then became global mall at the crossings, is now going to become, well, a little bit of everything. There will be a school in the former Macy's. Part of them all will become part of Vanderbilt university's medical center. And who knows what else is going to be? I wonder what happened to the shopping mall and why it was so important for such a short time and then gone almost as quickly. The mall culture of the 1980s and 90s is now long gone. And sometimes when you try to tell young people about it, they kind of look at you and stare. They don't quite understand.

Mason Minute Kevin Mason Baby Boomers Life Culture Society Musings Hickory Hollow Mall Nasa Vanderbilt University's Medica Nashville Macy
Shopping Malls (MM #4048)

The Mason Minute

01:00 min | 10 months ago

Shopping Malls (MM #4048)

"The NASA minute. With Kevin mason. The way we shop is changed so much over the years. In my younger years, it was going to the shopping center with all the parking spaces and you'd basically have to go from store to store outside in the cold, exposed to the elements in the late 60s into the 70s and 80s, the shopping mall became the big thing, but as time wore on, people began to turn away from the shopping mall. When I started coming to national in the 1980s, the shopping malls that were here are pretty much all closed now. But recently, the one that used to be the big daddy of them all here in Nashville, which closed down in the early 2000s, has been bought by the city. And what once was Hickory hollow mall then became global mall at the crossings, is now going to become, well, a little bit of everything. There will be a school in the former Macy's. Part of them all will become part of Vanderbilt university's medical center. And who knows what else is going to be? I wonder what happened to the shopping mall and why it was so important for such a short time and then gone almost as quickly. The mall culture of the 1980s and 90s is now long gone. And sometimes when you try to tell young people about it, they kind of look at you and stare. They don't quite understand.

Mason Minute Kevin Mason Baby Boomers Life Culture Society Musings Hickory Hollow Mall Nasa Vanderbilt University's Medica Nashville Macy
"macy" Discussed on The One You Feed

The One You Feed

03:25 min | 1 year ago

"macy" Discussed on The One You Feed

"And when you said that, I went, wow. That really kind of hit me because I'm a definite like focus on what you can control aspect. But it caused me to look at that differently. Well pointed out, I love that you're saying that. Because there's a lot now that we can't control, and that we have to learn to live with, and still see where we have choice. It's made a big difference for me. Eric, that at the beginning, but pretty soon we found that we needed if we're going to really look at some of the dysfunctions and suffering in our cultures. And it was that we're gonna need something to ground us to look at that, and you couldn't start right off. Coming together, and facing and talking about it, you needed to feel somehow held, and so it actually was happening. It was happening naturally. That we would be talking about what was working in our lives and what we are grateful for. It's amazing that what didn't come in by decision. But it was them by the time in the year 98 or 99 at the end of the 21st century we roll another book about it. We had a book in 83 and then a book. At the end of the 90s and then that's when the gratitude came. And that has had an incredible effect on while I guess on me. It's changed me. Changed my life. I always had a lot of love, but that's why I was able to handle the pain. But this pattern of doing the work in that first station where you know you take stop and with somebody and say, can we take ten minutes and just run the spiral? Then you do it together. Automatically, then what's going for me right now. Just say something that you are so incredibly thankful for. You just mentioned as we talk about the spiral, you describe the work that reconnects as a spiral mapping through four stages. You talked about coming from gratitude. We've talked a little bit about honoring our pain for the world. We're running out of time. But let's talk about the third stage of the spiral, which is seen with new eyes. Yeah. Well, one of the things that happens, I think of the whole thing, the critical point is honoring the pain. It's not diagnosing it, and it's not pathologizing it, which is what the power holders and the current world system. It's very convenient for them to pathologize people suffering because then it's not a judgment on. It doesn't lead you to want to change your system if it's just somebody's crankiness and paranoia. And what happens in honoring the pain is that you begin to see that it's not from craziness that you're feeling this grief, but it's from a caring. And this caring is your love for life. It's like two hands, pressed together, or your pain.

Eric paranoia
"macy" Discussed on The One You Feed

The One You Feed

03:22 min | 1 year ago

"macy" Discussed on The One You Feed

"Of the forest, the oceans, all that. But it also is more than that. It's building in new ways of doing things. And when we were developing this, I got so excited to realize how we're doing this at such a clip. And with such ingenuity, us as a species that we are building new ways of growing and cultivating for food. We've been no ways of settling arguments. No ways of making energy. No ways of settling differences. It's like there's more things sprouting right now. That we can remember from any other time there's so much ingenuity, you know, when people start doing something that matters to them, they get so sharp. Yeah. The third part of the great journey is just as essential. Because these ways of doing it, these institutions, these forms of activity, the ways that we're building are all going to turn to dust if we don't have this if we don't gain the values and the purposes for which we're inventing. And caring for the earth. And this means the inner revolution. They moral or spiritual, what is the flame burning in our heart? I love that. That's my definition for me a Bodhi chitta. And the Buddhism, the caring for all beings. This has to work this time. Not just for us. Not just for you, but for all of us, because this is a planet and we've got a planet to save, and a planet to care for, and a kind of definition for ourselves. That we can begin to own that we're a planet people. We have different ways of showing it, different things to do, but so much to do. It's.

"macy" Discussed on The One You Feed

The One You Feed

02:08 min | 1 year ago

"macy" Discussed on The One You Feed

"Need to hire, you Thanks for joining us. Our guest on this episode is Joanna Macy and environmental activist, author and scholar of Buddhism, general systems theory and deep ecology. She has too many accomplishments for me to even begin to go into, but she is the author of 12 books and Eric and Joanna cover many topics in this great interview. Hi Joanna, welcome to the show. I'm glad to be here. It is such an honor to have you on. I was joking with you beforehand. You were asking me about the people who come on the show. And I said, well, the people who come on the show are the sort of people who quote Joanna Macy all the time in reading for about 8 years for this podcast. And I read every guest's book. So I've read a lot of books. You are in the top 5 most quoted people, I think, in all these books. You, the Dalai Lama and Ian mcgilchrist. There's a couple others, but you're way, way up there in both ecological and spiritual circles. So it's a real honor to have you on. Well, Eric, I'm so happy to meet you. Thank you. It's nice that I can see your face, which I listeners can't. But you look very accessible. The fact that you actually wanted to talk about a real gun in his letters or any other part of this poet who is accompanied me through my life makes my heart open. Yeah. You know, I had wanted to talk to you for years based on the work you've done around systems thinking and Buddhism and deep ecology and all that. And then when I saw that you recently had put out a new translation of perhaps my favorite book of all time, letters to a young poet. I was like, that does it. I have got to talk to her. So here we are. And before we get into all that, let's start like we always do with a parable. There is a grandmother who's talking with her granddaughter. She says, in life, there are two moles inside of us that are always at battle. One is a good wolf, which represents things like kindness and bravery and love. And the other is a bad wolf, which represents things like greed and hatred and fear..

Joanna Macy Joanna Ian mcgilchrist Eric Dalai Lama
"macy" Discussed on The One You Feed

The One You Feed

01:44 min | 1 year ago

"macy" Discussed on The One You Feed

"Good wolf. The new year is a great time to plan for the future, like the one you can have with a degree from university of Maryland global campus, and accredited state university, UMG has been online for over 20 years, helping working adults and service members learn the skills they need for the careers they want. And with no application fee through February 14th, there's no better time to start. UMG offers online courses more than 90° specializations and certificates in career relevant fields, and no cost digital resources replacing most textbooks. Classes start soon. Get started today with no application fee through February 14th. Learn more at UMG EDU slash podcast. If you're hiring, you need indeed, because indeed is the hiring partner where you can attract interview and hire all in one place. And it's the only job site where you're guaranteed to find quality applications that meet your must have requirements or you don't pay. With instant match as soon as you sponsor a post, you get a short list of quality candidates with resumes on indeed that match your job description and you can invite them to apply right away..

Macy's Thanksgiving parade returns, with all the trimmings

AP News Radio

00:41 sec | 1 year ago

Macy's Thanksgiving parade returns, with all the trimmings

"Crimped by the corona virus pandemic last year the Macy's thanksgiving day parade was totally back this time there was a drumline at the university of Alabama's band spectators like this site Hey shut out in twenty twenty lined the route again feels really phenomenal to be here feels like New York is on its way to recovery which feels fantastic so many people and families out and they all got to enjoy balloons floats marching bands clowns and performers and of course Santa Claus I'm what turned out to be a beautiful day it was wonderful it was really exciting to see everyone out and about and go by there so big so it was exciting to see I'm Shelley Adler

Macy University Of Alabama New York Santa Claus Shelley Adler
"macy" Discussed on CNBC's Fast Money

CNBC's Fast Money

02:31 min | 1 year ago

"macy" Discussed on CNBC's Fast Money

"Free cash flow generation, it's an attractive idea. The market is skeptical. The multiple of Macy's being 7 to 8 times PE. It's very low. And it's not getting a digital multiple, which is one to two times sales. So it's TBD in terms of conviction and what the company can do. Our overall thesis calls for the digitization of Macy's and Macy's really acting with speed and more like an ecommerce retailer. This is an interesting question. Can you and should you separate the two? Part of this is time horizon part of this is execution. And part of this is really understanding what kind of decisions you have to make, which would be quite complex and splitting businesses. The future of retail in our opinion is physical plus digital. Can you separate them? Should you separate them? It's a short term versus long-term decision as well. Oliver, thank you. Oliver Chan. How? Tim I'll go to you. I mean, it does seem like an extremely complicated relationship to sort of extricate. I mean, if you have, for instance, a sale that's made in online and then brought to the store. I mean, presumably there would have to be Oliver mentioned service agreements because that store is going to send back the merchandise for the online to process. It's complicated. It's not, this is not an easy thing to do. And that's what Ed Oliver's pointing out, and I don't think he's suggesting that it should happen. In fact, it's that complimentary nature of the hybrid multiple that you want to see Macy's get, which is look at what Walmart's doing. That is core to a thesis I have on a long position in Walmart, or how about target? Give Oliver credit, by the way, he didn't just upgrade the stock today or yesterday. He also, he's been upgrading this stock. He upgraded the stock 6 or 8 weeks ago. And he was pointing out that digital penetration is going to be 42 43% out in a couple of years. So talking about this core business. So a lot of folks have gotten excited about Macy's. But I do think that this call is something that he's had out there for a while. And part of it is also just a sum of the parts and looking at 7 bucks a share on real estate and looking at a dividend that no one thought that they could pay, so that dividend yield is actually something you don't buy the stock for, but it's certainly something that protects your downside. Guy quick on Macy's. It's interesting, I think in summer 2018, it was a $40 stock. I mean, I don't think it gets there and Pete probably knows this a lot better than I do, but this sounds like one that if you're getting paid enough to sell upside calls against an existing position, you do it all day long. I think if this gets to 32, which is the price target you just mentioned, I think you take the money and run. Coming.

Macy Oliver Oliver Chan Ed Oliver Walmart Tim Pete
"macy" Discussed on CNBC's Fast Money

CNBC's Fast Money

02:15 min | 1 year ago

"macy" Discussed on CNBC's Fast Money

"Welcome back to fast money. Macy's shares ripping 13% in the past week. This comes a speculation heats up over a potential spin off of its digital business. Cowan boosting its Macy's price target to $32 from $27 a share. And if an ecommerce spin off becomes a reality, the firm sees a stock going even higher. Oliver China's cowan's senior retail analyst, Oliver, great to have you with us. Thanks for having me. Are you basically saying that after the spin off Macy's, the brick and mortar part of the business will be worth much, much more? Yeah, Melissa, the ecommerce business is worth as much as one to two times sales or more. That yields a stock price of $40 plus. We don't necessarily think it's spin off as imminent. However, our note really lays up these different scenarios in which the ecommerce business is very undervalued relative to how Macy's is trading currently. So Macy's is training overall at .5 times sales. As we look at ecommerce businesses and comparable companies, they trade at one or more time sales multiples. So this is entirely possible and is being analyzed, however, there are a lot of risk factors and separating the two businesses will not be easy. They will have to go over hundreds of service agreements as well. Customer acquisition occurs across both channels. And clearly the customers on omnichannel, behaving and shopping in both digital and physical. And thanks for coming on. I'm sort of confused. Is it possible that the rest of Macy's with the debt with the bricks and mortar and maybe some of them under scale is actually worth negative depending on how they divide up the ecommerce sales? Yeah, that is part of the interesting story here because the rest of the business, the physical side of the business, we model declining three to 4%. And at the same time, we model the digital business growing 9 to 11%. So thinking about us some of parts clearly evaluation will be lower on a negative business, but it's also a little bit of art and science and.

Macy Oliver China Cowan cowan Oliver Melissa
"macy" Discussed on WBAP 820AM

WBAP 820AM

01:36 min | 1 year ago

"macy" Discussed on WBAP 820AM

"Macy's July 4th cell with our lowest prices of the season on summer updates for your home like 20 to 50% off outdoor furniture and the Radley five piece sectional, Shea Sofa $1999 and get a free adjustable base or box spring with qualifying mattress Purchase Plus. Macy Star Rewards members earn on every purchase, accept gift card services and fees sign up today at Macy's dot com slash star rewards Savings off selling clearance prices. Exclusions apply spark The savings at J. C. Penney's Fourth of July sale now through Sunday, get up to 50% off select furniture, mattresses and window coverings during our home sale, plus save on hundreds of doorbusters across the store for the entire family, save even more on select styles with an extra 25% off coupon. Celebrate every summer moment with JCPenney offers in coupon ballot through 74 Door busters ballad 71 through seven board Some exclusions, apply furniture, mattresses and window coverings Limited to 10% off coupon c store or dot com for details. Welcome guests back in with fourth of July. Savings and lows get Valspar Signature interior paint and primer starting at 32 98 per gallon with appliance savings today and everyday, save up to $750 now and select major appliances. The summer savings continue this July 4th, So stop it Lows or buy online and pick up in store loves home to any budget home to any possibility. Paint pricing value through 77 21 in store must ask cashier to apply. Coupon savings vary based on purchase amount can be combined with additional discounts. Exclusion supply, vowed to 7 14. W B A P S Travis. First traffic.

"macy" Discussed on The Real Agenda Network

The Real Agenda Network

03:49 min | 2 years ago

"macy" Discussed on The Real Agenda Network

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But <Speech_Female> you might have heard that. We're <Speech_Female> having a rebellion <Speech_Female> that begins on october. <Speech_Female> The seventh <Speech_Female> when extinction <Speech_Female> rebellion will be taking <Speech_Female> to the streets again. <Speech_Female>

october two seventh bristow billions of years joanna first buddha buddhists earth each