Terry J Lundgren Net Worth is20.0 $Million
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Terry J. Lundgren (born 1952) is the CEO, Chairman of the Board, President, and Director at Macy's, Inc., the parent company of Macy's and Bloomingdale's department stores.
Through his career at Federated/Macy's, Lundgren is credited with being an innovator in merchandising, branding and localization. He was instrumental in developing the company's private brands of merchandise and led the 2005 merger of Federated Department Stores, Inc. and May Department Stores, Inc., creating one of the largest retailers in the world, with more than 800 U.S. stores and 2008 net sales of US$24.9 billion.
Like all retailers, Macy's, Inc. saw declining sales in 2008 amid deterioration of the U.S. economy. In fiscal 2008 (through January 2009), same-store sales declined by 4.6% at Macy's, Inc. In this environment, however, Macy's, Inc. has outperformed virtually every major competitor.
Macy's is seeing positive early results from "My Macy's", a localization inititaive launched by Lundgren in spring 2008 to tailor a portion of every store's assortment to local tastes and color. The company reported that of its top 15 best-performing geographic markets in the key holiday selling month of December 2008, 13 were My Macy's pilot districts. The My Macy's organizational model is being rolled out across the U.S. in 2009.
As reported in Macy's, Inc.'s proxy statement filed in April 2009, Lundgren's total compensation in 2008 declined by 37% to $5.4 million, reflecting lower sales and profitability in a weak economy. His compensation included $1.5 million in salary, $900,000 under the non-equity incentive plan, and $496,423 in various other compensation. The remainder was the value of stock options.
Lundgren has been awarded numerous honors. In 2008, he received the Gold Medal Award from the National Retail Federation, considered the retailing industry's pre-eminent honor. In spring 2008, he was presented with Carnegie Hall's third annual Medal of Excellence for outstanding phil

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Terry J Lundgren Latest News

Macy's posts earnings of 40 cents a share vs. 36 cents expected

The retail giant posted first-quarter adjusted earnings per share of 40 cents, compared to 56 cents a share in ... and first quarter results are below our original outlook," Terry J. Lundgren, Macy's chairman and chief executive officer, said in a statement.
Posted: May 10, 2016, 9:34 pm

How To Collaborate In The New Retail Environment

The main topic of discussion will be the aforementioned “How to Collaborate In The New Retail Environment.” The comprehensive day-long event, which is being presented in association with the prestigious Terry J. Lundgren Center for Retailing at the ...
Posted: October 9, 2012, 7:57 am

Jeff Gennette to Succeed Terry Lundgren as Macy’s Chief

Macy’s longtime chief executive, Terry J. Lundgren, will step down next year, the company announced on Thursday, as the retailer grapples with sagging sales and broader changes in the ways people shop. Jeff Gennette, 55, who is the company’s president ...
Posted: June 23, 2016, 9:23 am
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