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Macy’s CEO: People Coming Out for Values

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    Macy’s CEO Terry Lundgren on the trends in Black Friday shopping.

  • Duration 4:34
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Something else that you did yesterday is you bust then people from.

For Far Rockaway down queens those victims of hurricane -- you less than that and you put that in Macy's seat.

Right for the parade right.

And are -- are our people are happy to give up their seats for the those who are suffering from the from -- -- and so we had 5000 of those individuals here.

And and -- -- that -- that feedback -- -- I got so many personal emails and thank you because if you -- the have a tough time.

But they had a date when they were -- -- normal.

Moment -- join the parade and be there with their family and I think that's what that makes you think it is great doesn't general but it did specifically yesterday for the victims of -- insane.

You know what I think that Macy's in New York doesn't the holidays that bring a lot of international Torres and we.

We see this every year during black Friday's deadly Macy's the international -- the comment.

Is an international still.

Dot crucial part of the business do you think as the US economy continues to try to rebuild itself -- Think it's a very important part of the business but I think it's always that's obviously challenge to mean you have to look at Europe what's going on there and say okay European travelers are not gonna be.

Traveling to the extent that they have in the past.

But then you've got Brazil which is -- rolling in -- this -- in terms of it traveling into new York and now Los Angeles in Florida certainly.

And then you've got forced the Asian market.

That it was small in numbers still but the fastest growing -- in terms of international so I'm hoping.

That these new international travelers are -- offset what's going on in.

In Europe today and in the end overall of these similar to -- -- this store was unbelievable -- from the international.

Customers coming in this morning.

And I thought I had -- -- fifty different languages standing at an outdoor not eighteen minute so so we -- getting an active driver at their bases elsewhere.

Let me ask you about the US economy right now had a big discussion many CEOs are coming on the -- visit telling us that this book -- is impacted them.

Uncertainty and makes them nervous you know what is might tax -- it look like next year what what is regulation -- look like what has -- they're gonna look like.

Do have a sentence.

I definitely have those same concerns and and we have to do something about this is not an option.

This is not a Republican problem or Democrat problem this is an American problem it's real.

And so we don't do something about this before December I -- that's when you're gonna start to see consumers start tentatively question.

Our leadership in Washington.

I don't think that's going to be the case I think our leadership in Washington is is is now focusing though.

-- we know who's going to be running the country is going to be running that the senate is going to be considering -- house and I think.

Now that's behind -- everybody just focus on working together we're gonna have.

Have to reach across the out of have to compromise program have to make progress on this on this fiscal -- so I think that's really important for business right now.

I can't think that that they -- consumer has not really focused on this subject but.

They will if we don't address -- I'm just confident that we are going to address sudden the next few weeks.

That you are we say director at the New York bad you.

Image that national retail federation of president there of course made his.

Perfect question for you -- this wanted an administration could do for business and 2013.

But -- -- there's there's so many.

There's so many things but it is it is your point it's the big subject there's a lot of little that things that we are focused on we're trying to.

Increased tourism -- trying to make it easier for tourists -- get.

-- -- particularly from what countries like Brazil and and in China didn't want them frankly to spend their money in our country and that will create more jobs so anything that will focus on creating jobs in America is is what we are all about.

If we can create more jobs people we'll have more money to spend.

We have -- -- to stand that when.

In turn create more jobs and that's what it comes comes down through that that this fiscal cliff subject.

Past it has to be first we have to make progress on that we have to have an agreement and it about it -- just -- -- -- say here's our agreement we have to continue to work on it in the spring season as well so that this becomes a way of life as opposed to one time opportunity to come to agreement.

And avoid this -- And I assume you're gonna be married 2013 he'll ask -- this every year we are indeed you know we that we actually hired 80000.

Employees for the holiday season alone on top of our 175000.

-- Not so you know when we've been doing well and we've been fortunate in that regard.

Eleven quarters in a -- comp store sales growth earnings growth we expect the same happen in the fourth quarter so do that we're gonna continue to -- -- All right -- it'd be watching Terry Lundgren Terence CEO made it on this Black Friday morning thank you Terry I think that they witnessed thank you for having its -- -- get.

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