Terry Lundgren on retail over-storing
From Former Macy's Chairman discusses Target and Lowe's strong Q2 earnings · · CNBC Television
“America is over-stored, there's too much physical retail in America. I've seen this for five years and Macy's actually took a position to make some aggressive changes in that regard and reducing their number of stores. That's got to continue to happen across the entire industry, specialty stores, malls and mall-based anchors. It's got to happen, it's going to happen faster than I think anybody was expecting.”
On , Terry Lundgren, Former Chairman & Chief Executive Officer at Macy's, spoke about retail over-storing during Former Macy's Chairman discusses Target and Lowe's strong Q2 earnings on CNBC Television.
About Terry Lundgren
Terry Lundgren, former chairman and CEO of Macy's, appeared on the podcast "Retail & The Runway" on May 1, 2026, hosted by Ashley Morgan. During the episode, Lundgren discussed the responsibilities of a CEO, stating that he felt responsible for the 140,000 employees he oversaw at Macy's, Bloomingdale's, and Blue Mercury. He also addressed the future of retail, arguing that the strongest retailers will be those that offer an omnichannel shopping experience, combining physical stores with online sales. He noted that Amazon has succeeded without mastering the physical side of the business but said that for most other retailers, a formula involving both physical and online sales will be most successful. Lundgren also commented on the role of artificial intelligence in retail, saying that while many believe AI will help them, they are unsure how. He advised that people should learn more about technology and AI, adding that AI "will more than likely replace some jobs but will create other jobs." Additionally, he encouraged students to make personal connections with executives, suggesting that taking the initiative to introduce oneself can leave a positive impression and provide a competitive edge.