Macy ceo says store on solid terrain

Cincinnati macy's ceo said on friday that you can have winners and losers among retailers going into the fall season amid inflation worries, but he feels the department shop chain is in a good position.

Chief executive officer, president and chairman terry lundgren gave a glowing report to investors meeting in cincinnati, featuring what he called"A great first quarter, the cincinnati based company reported earnings this morning that beat forecasts by 12 cents, with macy's reporting net gain of $131 million, or 30 cents per post, on being created sales.

Ending up in reporters later, lundgren said macy's broad assortment of products and brands means that plenty of its product categories won't have inflation.

"We feel fantastic about where we are at, he explained.

Some clothing retailers began to pass along higher prices on certain goods as costs rose for comm ... Read more »