Terry Lundgren served for 14 years as CEO of Macy’s, Inc., operator of Macy’s, Bloomingdale’s, Bluemercury and one of the largest retail ecommerce businesses in America. He retired from Macy’s, Inc. in January 2018 after serving for 10 months as the company’s Executive Chairman. Prior to becoming CEO of the company in February 2003 and Chairman and CEO in January 2004, Lundgren had been President and Chief Merchandising Officer since May 1997. (The company’s name changed to Macy’s, Inc. from Federated Department Stores, Inc. in 2007.)
Lundgren began his retailing career in 1975 as a trainee with Bullock’s, a Los Angeles-based division of Federated. He held positions of increasing responsibility over the next decade in buying, store management and human resources, as well as serving as the division’s director of stores and, in 1984, was named Senior Vice President and General Merchandise Manager. In 1987, at the age of 35, he was named President and CEO of Bullocks Wilshire, then the most upscale and high fashion chain of specialty department stores owned by Federated.
Lundgren left Federated after its acquisition by the Campeau Corporation in 1988, joining Neiman Marcus in Dallas, TX, as Executive Vice President and shortly thereafter was named Chairman and CEO. He held that position until 1994 when he returned to Federated as Chairman and CEO of the Federated Merchandising Group. Through significant acquisitions over the following 18-months, including the acquisition of Macy’s and Broadway stores, Federated more than doubled its size.
In his capacity as Chief Merchandising Officer, Lundgren was credited with effectively easing the merger of Federated’s and Macy’s merchandising functions and initiating the strategic development and marketing of a strengthened private brand program within Federated.
As CEO of the corporation, Lundgren led Federated’s acquisition of The May Department Stores Company in August 2005, nearly doubling the size of the company. One year later, he changed the name of more than 400 regional department stores across the country to the Macy’s name, creating a nationwide brand and the largest fashion retail company in America. In February 2015, Macy’s acquired Bluemercury. In fiscal 2016, the final year of Lundgren’s tenure as CEO, Macy’s, Inc. sales approached $26 billion, with approximately 140,000 employees. The company operated approximately 575 department stores under the nameplates Macy’s and Bloomingdale’s, and approximately 150 specialty stores that include Bluemercury, Bloomingdale’s The Outlet and Macy’s Backstage, in 45 states, the District of Columbia, Guam and Puerto Rico, as well as macys.com, bloomingdales.com and bluemercury.com.
Lundgren was named one of the Top 30 CEOs in the world by Barron’s in 2015. He was WWD’s “Newsmaker of the Year” in 2014 and is the recipient of the Deming Cup by Columbia Business School for distinction in leading continuous improvement. Among his honors, Lundgren in 2008 received the Gold Medal Award from the National Retail Federation, considered the retail industry’s most prestigious recognition.
Lundgren is a native of Long Beach, CA, and a graduate of the University of Arizona where he gave the commencement address to the graduating class of 2000 and was awarded the Honorary Doctor of Laws degree. Lundgren is an active supporter of The Terry J. Lundgren Center for Retailing at the University of Arizona. He was also awarded the honorary Doctor of Commercial Sciences degree from Suffolk University in 2001.
He has been presented with many business recognition awards and has served as dinner chairman or as honoree for numerous retail industry organizations and charities, including Carnegie Hall, MoMA, BRAG, the Fresh Air Fund, American Jewish Committee, Breast Cancer Research Fund, Ronald McDonald House, NOW Legal Defense, Parsons School, Fashion Institute of Technology and the Ovarian Cancer Society.
Lundgren currently serves on the boards of The Procter & Gamble Company, Carnegie Hall and the Economic Club of New York. He is a former board member of Kraft Foods Inc. the Federal Reserve Bank of New York and has participated in numerous charitable and civic efforts. He has served as co-chairman of the Partnership for New York City and the American Heart Association CEO Roundtable, and as chairman of the National Retail Federation (twice), National Minority Supplier Development Council, and the American Society of Corporate Executives. Lundgren also currently serves as an Executive In Residence at Columbia Business School.
Lundgren has two daughters and resides in New York City with his wife, Tina.