/ Modified may 1, 2010 3:52 a.m.

Macy's Faring Well

One of the hardest hit sectors in the down U.S. economy is retail. Consumers are keeping their wallets closed over fears of unemployment and uncertainty about the future. One retailer is showing signs of improvement in its financial picture.

Story by Robert Rappaport

Terry J Lundgren

Macy’s Incorporated, the owner of Macy’s and Bloomingdale’s department stores reported increased profits in March. “Double-digit comp store increase; 10.8 percent over last year,” said Terry J. Lundgren, CEO and Chairman of the Board for Macy’s. “It’s on top of three months of growth. It’s really encouraging to see things turning around.”

Lundgren, a graduate of the University of Arizona, says 2009 was a bad year for the retail industry, but it was a great learning experience about how business needs to change with the times.

Lundgren, who has a University of Arizona retailing center named after him spoke in Tucson last week.

Listen to the story from In-Depth Arizona :

MORE: Business, Economy
By posting comments, you agree to our
AZPM encourages comments, but comments that contain profanity, unrelated information, threats, libel, defamatory statements, obscenities, pornography or that violate the law are not allowed. Comments that promote commercial products or services are not allowed. Comments in violation of this policy will be removed. Continued posting of comments that violate this policy will result in the commenter being banned from the site.

By submitting your comments, you hereby give AZPM the right to post your comments and potentially use them in any other form of media operated by this institution.
Arizona Public Media is a service of the University of Arizona and our broadcast stations are licensed to the Arizona Board of Regents who hold the trademarks for Arizona Public Media and AZPM. We respectfully acknowledge the University of Arizona is on the land and territories of Indigenous peoples.
The University of Arizona