Macy’s new CEO must revive stores as he fights off takeover, NY Times says

As he prepares to become Macy’s CEO, Tony Spring must contend with mall-based department stores trying to stay relevant in an increasingly online, e-commerce world, Jordyn Holman and Lauren Hirsch of The New York Times says. Trying to win over younger shoppers and infuse the company with new ideas is a long-term effort, but some investors have already lost patience. Back in December, an investor group submitted a bid to take the company private and investors said that, unless the retailer begins sharing nonpublic information with them, they may take the offer to its shareholders. Macy’s is currently facing a large range of issues, including a broad consumer base, reliance on malls, and increasing competition from other discount chains, which much be faced in order to win over new shoppers and remain relevant.