Can Macy’s win back America? How CEO Tony Spring is moving past denial and embracing change

Core Insights - Macy's is implementing a turnaround strategy focused on retail fundamentals, including improved customer service, store presentation, and a reduction in the number of locations from 449 to approximately 350, with 125 priority stores receiving significant investment [1][12][24] Performance and Challenges - Macy's sales have declined from a peak of $28.1 billion in 2014 to just above $22.3 billion in 2024, with customer service scores dropping significantly [2][7] - The company has faced challenges due to the rise of e-commerce and discount retailers, leading to the closure of hundreds of stores [2][11] Leadership and Cultural Shift - Tony Spring, who became CEO in early 2024, emphasizes the need for a cultural reset within Macy's to inspire employees and align them with the new strategy [3][8] - Spring's approach includes being open to criticism and engaging with former critics to improve the brand's image [4][6] Store Improvements - Recent improvements in store merchandising and staffing have been noted, with double the staffing in key departments and a focus on creating a more appealing shopping experience [5][17] - Macy's is also working to attract new brands and bring back those that had previously left, with recent additions including Abercrombie & Fitch's children's line [23][24] Customer Engagement - The company has conducted surveys with 60,000 customers to better understand their needs and preferences, aiming to enhance the overall shopping experience [17][21] - Spring's background in hospitality is influencing the training of store employees to focus on customer engagement beyond transactional interactions [22][24]