Word: lundgren
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Dates: during 2000-2009
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...part of Federated CEO Terry Lundgren's plan to make Macy's a truly national department store. "This hasn't been done before," Lundgren told TIME. "Macy's is a great brand that has never been maximized to its full potential." After decades of bankruptcies, closings and consolidation in the industry, Macy's may soon be the last traditional, mid-priced mall-based American department store standing. Its future matters not just to Federated shareholders but also to a $100 billion chunk of the retail economy. Everyone from fashion designers to cosmetics companies to small-town malls is praying that...
...Lundgren, a retail veteran and onetime CEO of Neiman Marcus, wants to do that by changing the look and feel of department-store shopping. On his agenda: broader aisles (managers will be assigned 32-in. rulers or measuring tapes to make sure they leave at least that much space), less cluttered departments (15% of display racks will be removed), upgraded fitting rooms (with plasma-screen TVs in the waiting area), stores that are easier to navigate ("way finding" signs will guide shoppers) and more help looking up prices (at least 35 bar-code readers in every store). The changes...
...maneuver will be balancing fashion merchandising with regional tastes. Macy's needs to include national brands like Tommy Hilfiger and Ralph Lauren to pull in traffic but in a mix that will appeal to customers on a local level. "What fashion means in Miami is quite different from Atlanta," Lundgren says. Federated has set up seven new buying offices in different cities to merchandise locally and has installed a national logistics database that allows buyers to distribute merchandise more efficiently; slow sellers are marked down, and popular items are restocked faster...
...Reagan years wound down, Abramoff drifted back toward Los Angeles, where he became a B-movie producer, remembered mostly for the 1989 anti-communist adventure Red Scorpion, starring Dolph Lundgren. Shortly before the film came out, Abramoff invited talk-show host and critic Michael Medved to lunch. "I thought he was interesting?a Reaganite, a fellow observant Jew?and I took a look at his movie," Medved recalls. "The film was awful, and I told him the best help I could give him was never to review it. He laughed and said, 'Yeah, it's pretty bad.' I said...
Outshines Dolph Lundgren, Grace Jones and a very aging Roger Moore...