FIRST OUR TOP STORY THIS HALF
AN HOUR A BIG WEEK FOR RETAIL
WE SAW STRONGLY RESULTS, FROM
TARGET, KOHL'S PARENT COMPANY
TJ MAXX LAST WEEK MACY'S
BETTER-THAN-EXPECTED QUARTERLY
EARNINGS RAISING ANNUAL PROFIT
FORECAST AS WELL JOINING ME
TERRY LUNDGREN FORMER CEO OF
MACY'S THANK YOU FOR BEING
HERE HOW WOULD YOU
CHARACTERIZE BACKDROP IN TERMS
OF RETAILS CONSUMER SPENDING.
>> WOULD I SAY ENCOURAGING
CONSUMERS SPENDING CONFIDENT
FEELING GOOD ABOUT BUYING
DISCRETIONARY ITEMS ALMOST
ACROSS THE BOARD RETAIL
REBOUND IS HERE, AND THEY HAVE
NOT ONLY WE HAVE SEEN GOOD
COMP STORE SALES GREAT
EARNINGS FORECASTS THAT HAVE
BEEN RAISED IN TERMS OF
EXPECTATIONS GOING FORWARD SO
I THINK A REALLY GOOD PICTURE.
>> INTERESTING BECAUSE EARLIER
THIS YEAR WE WERE WORRIED
ABOUT CONSUMER, CONSUMER
FEELING PRESSURE THIS IS
REALLY IMPORTANT, THAT IS
GOING TO SLOW DOWN THE ECONOMY
WE DIDN'T SEE THAT AT ALL WE
ARE SEEING PRETTY GOOD BACK TO
SCHOOL SEASON TOO.
>> FOR SURE, YOU KNOW I THINK
WHAT WE SAW MARIA WE SAW A
MONTHH NUMBER OF THINGS
CONSUMER ENHANCINGING HABITS
BABY BOOMERS REPLACED IN
WITH THAT IN YOUR FORECAST,
NUMBER ONE, NUMBER TWO IS YOU
SAW A CONSUMER THAT WAS A
LITTLE SKITTISH WEREN'T
INSURER WHERE IF IN MARKET
WHERE THE MARKET WAS GOING
WELL RUN NOW LONG ENOUGH TO
SAY YOU KNOW WHAT THINGS ARE
JUST FINE WITH ME HERE, SO YOU
STARTED SEEING SOME OF THESE
THINGS, BY THE WAY, HE
RETAILERS I TALKED TO A NUMBER
OVERNIGHT THEY HAVE BEEN
WORKING ON THESE INCLUDING
MACY'S FOR YEARS TO REIMAGINE
THE STORE TO MORE INVESTMENTS
INTO THE DIGITAL ECONOMY MORE
INVESTMENT INTO OMNI CHANNEL
CONSUMER HOW CONSUMERS ARE
RESPONDING ALL THINGS FINALLY
CATCHING UP, AND STARTING TO
BE EXECUTED AT POINT OF SALE
CONSUMERS ARE RESPONDING.
LET ME ASK YOU ABOUT THAT IT
SEEMS THAT ONE OF THE
IS THAT, THAT COMPANIES HAVE
BEEN ABLE TO ADAPT TO A NEW
>> NO QUESTION, HE, BELIEVE IT
OR NOT, NOT EVERYONE SHOPS
ONLINE, BELIEVE IT OR NOT, 90%
IN STORE THAT IS SHRINKING THE
SUPPLY OF INVENTORY NEEDS TO
SHRINK PLACEY'S CLOSED 20%
CASH FLOW POSITIVE A DECISION
ABOUT INFURIATED WHERE IT WAS
GOING MORE AND MERE THAT IS TO
OCCUR SUPPLY AND DEMAND A HAS
TO COME BACK IN LINE WITH
TO COME BACK IN LINE WIT
TO COME BACK IN LINE PHT
TO COME BACK IN LINE PHYS
TO COME BACK IN LINE PHYSIC
ENVIRONMENT IMPORTANT PART OF
PROCESS CONSUMERS GO THROUGH
IS MISUNDERSTOOD I THINK
REALLY IMPORTANT FOR INVESTORS
TO KNOW, WHERE RETAIL IS
HEADED.
YOU ARE SEEING THIS MOVE
TOWARD DIGITAL CHANGING THINGS
AROUND PUTTING CERTAIN THINGS
PLACE, WHAT WERE THE HEADLINES
IN PLACE
IN PLAIE
IN PLAIES
IN PLAIES I
IN PLAIES IMP
IN PLAIES IMPOR
IN PLAIES IMPORTA
IN PLAIES IMPORTANT
IN PLAIES IMPORTANT M
IN PLAIES IMPORTANT MOV
IN PLAIES IMPORTANT MOVES
MADE IN TERMS OF RE-IMAGINING.
>> A NUMBER OF THINGS BESIDE
STORE BASE IN LINE IMPORTANT
TO MAKE SURE THE BOX ITSELF
THE STORE ITSELF HAD MORE
REASONS FOR CONSUMERS TO
EXPERIENCE THAT SHOP IN STORE
PHYSICAL SHOPPING EXPERIENCING
WORKED WITH ME MANY, MANY
YEARS A TERRIFIC JOB WANTED TO
EXPERIMENT WITH OFF PRICE
CHANNEL PUT INSIDE THE STORE
SNEAD OF SOUT IN OUTLET
CENTERS PUT IT INSIDE THE
STORE WE WERE GETTING
CROSSOVER SHOPPING WE ARE
SEEING, THE CONSUMERS SHOPPING
AT OFF PRICE CHANNEL MACY'S
CONSUMER SHOPPING WHY NOT
BRING THEM IN THE STORE, SO
AND THE STORE PRODUCTIVITY HAD
GONE DOWN WE HAD SPACE IF YOU
HAD THREE FLOORS WHY NOT MAKE
FIRST TWO FULL PRICE FASHION
DECISION AFTER WE SPERMENTSDZ
LAST YEAR TO ROLL OUT TO OFFER
100 STORES GETTING TRACTION
THAT IS ONE, BUYING, COMPANIES
LIKE BETA, LIKE STORY GETTING
NOT ONLY NEW IDEAS, INTO THE
BOX, NEW TALENT, NEW -- NEW
THINKING, ABOUT WHAT COULD BE,
ALL THESE THINGS MARIA ARE
WHAT IS BEGINNING TO GET
TRACTION IN STORES LIKE MACY'S
TARGET SEEING THESE TALKED TO
BRIAN CORNELL DOING EMERGENCY
BRIAN CORNELL DOING EMERGENC
BRIAN CORNELL DO GG EMERGENC
BRIAN CORNELL DO GENC
BRIAN CORNELL DO
BRIAN CORNELL DOIN
BRIAN CORNELL DOING
BRIAN CORNELL DOING I
BRIAN CORNELL DOING IMA
BRIAN CORNELL DOING IMAGI
BRIAN CORNELL DOING IMAGINA
BRIAN CORNELL DOING IMAGINARY
THINGS TO MAKE IMPROVEMENTS
SAME AS DOUGLAS AT WALMART
CHANGES ARE TAKING PLACE, AND