The layoffs of about 100 senior-level staff will allow the retailer to move faster, reduce costs, and be more responsive to changing customer expectations.
"The rising tide of the economy is not floating all retail boats,” an analyst says of the department store chains' disappointing sales growth.
A new ranking of corporate speed and agility shows why some brick-and-mortar retailers, especially Macy's, are ailing.
The department store is expecting a strong holiday season.
CEO Jeff Gennette says the retailer's strategic initiatives are starting to gain traction.
United Airlines, Web.com, W.R. Grace, Tenneco, Vitamin Shoppe, American Homes 4 Rent, Texas Roadhouse, Molina Healthcare, Rogers, Macy's
A lecturer at Harvard since 2014, Price was previously finance chief of grocery retailer Ahold USA. She also serves on three corporate boards.
Macy's, Adobe Systems, Vista Outdoor, Advanced Energy Industries, CHG Healthcare, SEACOR Marine, JAKKS Pacific, Adams Resources & Energy, iStar
Comparable sales rose 1.3% in Q4 as the retailer's renewed emphasis on apparel helped bring in more shoppers and persuaded them to spend more.
The same-store sales drop was worse than analysts expected but tight inventory control drove an improvement in profitability.
The struggling retailer's stock fell 10%, apparently reflecting investor doubts over the progress of its turnaround efforts.
The retailer's shares plunge 17% as the disappointing Q1 report added "to the sense that Macy's is on a slippery slope."
