#3 – Macy’s (M)
Macy’s (M) CEO Terry Lundgren may be the industry’s savviest leader.
Not only did M report better-than-expected quarterly earnings, but unlike many retailers, it had positive things to say about the holiday season, proclaiming the company was “entering the fourth quarter with confidence.”
There are many reasons for Lundgren’s success, including decision to better match goods to the local tastes of its 800 Macy’s stores and 36 Bloomingdale’s stores in 10 states. Lundgren also is ratcheting up the company’s ecommerce business, which should help it compete against online retail stocks.