Facebook Pinterest Search Icon SourcingJournal_horiz Tumbler Twitter Shape photo-camera graph-trend Shape latest-news icon / user

Macy’s Names New President, Streamlines Merchandising and Cuts 100 Jobs

Join Theory, Google, H&M, McKinsey, Foot Locker, Lafayette 148, LL Bean, the Retail Prophet and more at Sourcing Journal’s Virtual Sourcing Summit, R/Evolution: Overhauling Fashion’s Outmoded Supply Chain, Oct 14 & 15.

Macy’s on Monday named a new president and announced a new merchandising strategy and a reduced headcount.

The company has restructured its merchandising efforts, folding merchandising, planning and private brands into one function, which will focus on five “families-of-business”: ready to wear, center core, beauty, men’s and kid’s, and home. Additionally, to make the team more efficient, Macy’s is strengthening its customer insights and data analytics with inventory replenishment and pricing capabilities.

The changes will result in about 100 job cuts. Macy’s anticipates the restructuring will save about $30 million annually and about $5 million in the fourth quarter of 2017. One time costs are expected to be between $20 and $25 million, which will be booked in the third quarter.

Read more on Sourcing Journal.

Related Articles

More from our brands

Access exclusive content Become a Member Today!