My 2021 prediction is JG will exit the big ole M around feb/March . Polaris is just a fancy word slapped to the same ole kicking the can down the street. . He will try to save face when vendors and employees find out he defrauded everyone.
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Polaris
- Provides preliminary 4Q and full-year 2019 sales results, narrows annual EPS guidance to upper end of range; provides 2020 guidance and three-year financial targets
- Begins a reset of fixed cost base to stabilize and then grow profitability and cash flows; expects annual gross cost savings of $1.5 billion to be fully realized by year-end 2022, with $600 million gross cost savings achieved in 2020
- Prepares to launch next phase of successful Macy’s Star Rewards loyalty program
- Lays out plans to build four $1 billion power private brands
- Optimizes store portfolio by continuing the Growth treatment of stores in best malls, closing approximately 125 stores in lower tier malls within three years, and exploring new off-mall formats
- Establishes single corporate headquarters and relocates digital business to New York City, the heart of the fashion industry
He was a bad CEO appointment from the beginning; he lacks presence and vision; clearly has demonstrated poor decision making and has demolished a talented team that once surrounded him; Jg has been in over his head and made the wrong turn at virtually every crossroad. He allowed the once proud people culture to be hijacked by terrible HR senior exec appointments on more than one occasion. He has lost the confidence and passion of the organization and Macy’s is now the epitome of a lost & sinking ship.
He'd will disappear and be a brief footnote as an abject failure in retail history.