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 commodities such as cotton.Those increases coming on top of higher prices for food and gasoline will mean that low income shoppers are"Gonna be stressed, lundgren these.

"But our readers are spending with us, he explained. "We are clearly capturing business,

Macy's has started to push some higher prices onto consumers although it has pulled back some and lundgren said there won't be any price increases in many parts of the company's stores.

Some macy's vendors and suppliers are adding quality to a few with new details such as enhanced buttons or workmanship to give consumers with more reason for increases when prices do go up, lundgren alleged.He outlined vendors like tommy hilfiger, ron lauren and calvin klein.

"Anyone just selling simple basic t shirts, i think that's a challange, he explained. "I think those guys will have a hard time, due to there Cheap Ralph Lauren UK being no way to hide from a big increase in the price of the actual raw material,

Lundgren told investors that macy's strategy of tailoring merchandise to local markets, adding exclusive brands and filling gaps in its variety such as in the young, contemporary area will furnish momentum for continued improvement in sales, salaries and cash flows.

But macy's believes the way to succeed is"Blurring the cloths line between our stores, the internet and mobile technology enough where we surround our customers and can respond to their needs no matter which way they prefer to shop, lundgren menti one d.

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