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Macy’s CEO Terry Lundgren on the impact of Hurricane Sandy on retailers along with their employees and consumers.
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Well they were lined up.
Around the block at the iconic Macy's Herald Square this morning to take advantage.
-- today's Black Friday deals CEO and chairman Terry Lundgren was there to help shoppers with.
Any questions big -- small -- -- Earlier -- -- can't seductive about the impact -- sandy ahead on Macy's bottom line in the personal -- tip of his employees.
We had 200 stores close for three days at at the beginning of the month of the November period.
Does very difficult and you know I think we'll -- -- that is.
What was even harder is those who were impacted we have we have forty of our own employees lost their house 200.
-- -- displaced from their homes still.
I and so Macy's has created not justified for the Red Cross but tonight I'm wearing probably raise a million dollars for the -- problem but we also raising the private -- time.
Person leading -- place to try to get them back on their feet and got to try to.
You know can't get our own employees to participate in giving -- across the country down -- forgiving for our employees and it's been a great.
Something else that you did yesterday is you -- and people from.
For Far Rockaway down please those victims of hurricane -- you less than that and you put -- in Macy's C.
Right for the parade right.
And I -- people are happy to give up their seats for the those who are suffering from the from hurricane sandy and so we had 5000 of those individuals here.
And ending no bid for the feedback I've -- I got so many personal I emails and thank you because there's people to have a tough time.
But they had a day when they were you living in normal.
Moment and join the parade and be there with their family.
Is international still.
Dot crucial part of the business do you think as the US economy could.
Continues to try to rebuild itself I 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 -- the European travelers are not -- -- be.
Traveling to the extent that they have in the past.
But then you've got Brazil which is -- rolling in.
Business in terms of it traveling into new York and now Los Angeles in Florida certainly.
And then you've got caused the Asian market.
That's quite small in numbers still but the fastest growing -- in terms of international side hoping that these new international travelers are gonna offset.
What's going on in.
In Europe today and in the end overall of these similar to a spent this store was unbelievable and from the international.
Customers coming in this morning.
And I thought I had must have -- fifty different languages standing at an outdoor not eighteen minute so so we -- getting an active driver at -- -- tells where.
No let me ask you about the US economy right now the big discussion many CEO the coming on the fox visit telling us that this book -- is impacted them.
Uncertainty it makes them nervous you know what is might tax vacant look like next year what what is regulation it'll look like what does health -- gonna look like do you 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 that before December I think that's when you're gonna start to see consumers started to really question.
Our leadership from Washington I don't think that's going to be the case I think our leadership in Washington is is is now focusing though.
Firstly we know who's gonna be running the country is going to be running that the -- is going to be considering the house and I think.
Now that's behind as.
Everybody just focus on working together we're gonna have to reach across the out we're gonna have to compromise children have to make progress on this on this fiscal cliff.
So I think that's really important for business right now.
I can't think that did they build consumer has not really focused on the subject.
They will if we don't address -- I'm just confident that we are going to address sudden the next few weeks.
-- you are we say director at the New York that you.
It's the national retail federation of president there request made his.
Perfect question for you look at this wanted -- administration could do more business and 2013.
But would have -- 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 bogus dollar trying to increase tourism we're trying to make it easier for tourists to get.
About these as particularly from what countries like Brazil and handed.
And China -- you want them frankly to spend their money in our country and that will create more jobs so anything that will focus on.
In jobs in America is is what we are all about if we can create more jobs people we'll have more money to spend -- -- to stand that would.
In turn create more jobs and that's what -- come.
Down through that -- this fiscal -- subject.
Cast it -- to be first we have to make progress on that we have to have an agreement and it about it -- in -- -- -- say here's our agreement we have to continue to work on it in the spring season as well so that this -- the way of life as opposed to a one time opportunity to come to agreement.
And avoid this with the and assume you're gonna -- hiring -- 2013 you can't see 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 what 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 be higher.
After the interview is over I also secretaries Tim in -- thinking about retiring he does so much -- -- Sheryl please and do want what am I gonna -- on sticking around for a long time Terry Lundgren.
Chairman CEO of Macy's speaking to Fox Business today --
