Wall Street Journal / Macy’s Pursues Customers of Fallen Rivals

May 13, 2009

SUMMARY

Amid the worst falloff in consumer spending in decades and a sharp decline in its own results, retailer Macy's Inc. is chasing customers of fallen competitors to rebuild its sales. "Wherever there is a store that has gone out of business, we are honing our sights on that customer," said Macy's Chairman and Chief Executive Terry Lundgren. Survivors "would be foolish not to" step up their efforts to appeal to new consumers amid all the retail carnage, said James Schaye, chief executive of liquidator Hudson Capital Partners LLC.

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