Macy's has set a new course toward survival in a turnaround strategy dubbed "Polaris" that plays on its longstanding star logo. The new course is a little like the old course, a 2017 turnaround strategy named "North Star," but it's decidedly Earthbound. Ancient Phoenician and Greek travelers were among the first to use the stars in the sky to navigate; Macy's appears to be using the stars on Wall Street.
In a press release and investors day presentation this week, the department store outlined a complicated new brick-and-mortar scheme, massive supply chain overhaul, e-commerce and loyalty upgrades, and merchandising strategy, all the while emphasizing cost restructuring designed to return the company to profitable growth.. . . more