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Macy's F1Q09 (Qtr End 5/2/09) Earnings Call Transcript

I work in Chicago and see what is happening (or rather not happening) on State Street every week. It is so sad for what used to be a thriving and vibrant aspect of my city. There is now the endless construction of Block 37 on one side of the street, and run-down Macy's on the other side. At least the construction site looks like somebody's trying. I miss Marshall Field's that always had something bright and inviting, and bothered to take care of their building. Field's was filled with happy shoppers. Macy's seems to be filled with black-clad sales associates waiting for something to happen. I'm sick of the stains on the building I can see a block away. I would rather see Marshall Field's, proud and well-cared-for, with the quality and service it always offered.

Earnings Preview: Macy's

I still have no use for Macy's. Everyone I know still misses Marshall Field's.

Macy's and Whole Foods - Thesis Versus Fact

Everybody I talk to in Chicago seems to hate Macy's and is disappointed that it came to Chicago. They class themselves as a higher-end store, but I hear a lot of comments Macy's is really nothing but junk. Some people who can't afford a high-end store say they only put up with Macy's for the bargains. If the economy does better, those people probably won't need bargains. So either way, I don't think Macy's is going to do well.

Macy's Watch: Welcome to Junk Status

Nobody is surprised any more at declarations that Macy's is junk. And actually, people who are fed up with Macy's have been buying Macy's stock for some time to gain a vote at the annual shareholders' meeting. Shareholders are the owners of a company. Shareholders are the ones who should be holding bad management accountable, and replacing it if necessary. Check out fieldsfanschicago.org to learn about efforts for change.

Cramer's Stop Trading! Raining on Macy's Parade (2/2/09)

Macy's has given itself trouble ever since it became more interested in plastering its name on everything in sight rather working to provide the quality of products and services that customers actually want to buy.

Macy's Cuts Dividend: Other Retailers Down on the News

Macy's has caused part of its own problems. The upper management seems to live in its own world of what it wants, and if they just cut this or consolidate that then the whole operation will work. The business of maintaining customer goodwill by providing a quality product the public is eager to buy seems to have gone from the picture. What is needed is upper management with a focus in the right place--service to the customer.

Macy's Should Monetize Its Former Brands

Macy's did itself a good deal of harm by eliminating traditional department store names that the customers never wanted to get rid of in the first place. However, simply returning some brand-name items won't be enough to placate disgust that has grown as those customers have watched Macy's reduce classic generational favorites to no more than trendy junk wastelands. A drastic shakeup in upper management, or sale of the stores to an entity that has the same sympathies as the customer, is about the only thing that could bale out Macy's goodwill problems at this point.

Retailers on the Extinction List

Nobody in Chicago is surprised that Macy's finds it necessary to close stores. We have attempted repeatedly to tell them we are dissatisfied with their products, management and general apathy toward the condition of their stores (not to mention eliminating our Marshall Field's when customers never wanted to get rid of it in the first place). Macy's management simply turns a deaf ear, and acts like either nothing is wrong or any problems are the fault of the economy. Such state of denial is not exactly a formula for success.

Macy's' Problems Have Just Begun

Macy's is obviously in a survival, not a success mode. No amount of manipulation of financial figures will help in the end when customer goodwill is the real issue.

Macy's' Goodwill Is a Red Flag

I disagree that only a few people in Chicago are "protesting" for the return of Marshall Field's. I wear an "I want my Marshall Field's" button, and can testify that people comment all the time that they want their Marshall Field's too. They say they're disgusted with Macy's. The Field's Fans website is getting new people all the time. Thanks to Macy's lack of Interest in customer goodwill, interest in the return of Marshall Field's is growing, not dying out.

Macy's' Goodwill Is a Red Flag

When I was in business school we were taught the number one element of a successful business is customer goodwill. Marshall Field's worked hard to build that goodwill, and as a result their customers continue to remain loyal two years after the store was eliminated by Macy's. Macy's acts as if it never heard of the goodwill concept. Even though shoppers scream that they are dissatisfied with Macy's, Macy's persists in forcing its own idea of what a customer should want on the public and then assumes low sales are the result of bad weather or economic conditions. From this shoppers perspective, lack of interest due to lack of goodwill is more accurate.