Macy’s Management Continues to Fail

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Macy’s Management Continues to Fail

© Wikimedia Commons

Macy’s broke the cardinal e-commerce holiday rule. Don’t let your site collapse. It undermines sales, it makes management of the online business appear incompetent, and makes investors, customers, and employees wonder whether poor executive skills will continue to damage a retailer that is already in big trouble.

Macy’s (NYSE: M) said it was “working quickly to alleviate the delay issue” — hardly an acceptable excuse for busy shoppers.

Macy’s has staggered from one strategy to another, rearranging and closing stores. CEO Terry Lundgren is leaving, but not soon enough. He will be replaced by Jeff Gennette, Macy’s president. The board should have looked outside. As the e-commerce debacle shows, Gennette is part of the problem, as has to be the case with all the senior management.

 [nativounit]

Ahead of the holiday the company announced:

Shop Macy’s for Big Discounts on Black Friday and throughout Cyber Week

Find hundreds of Black Friday specials starting at 5 p.m. Thanksgiving evening and online all day at macys.com

Cyber Week offers five days of savings to customers shopping macys.com beginning with a preview on Sunday, Nov. 27

Plus, for the first time, Macy’s customers who want a head start can shop select specials a week early at the Black Friday doorbusters preview sale starting Thursday, Nov. 17.

But, if you want to shop online, go to a site that works. Macy’s should have run its site on Amazon Web Services.

 

Note: Macy’s shares are down 32% in the last two years.

 [wallst_email_signup]

 

 

 

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618