Freakonomics Radio 613. Dying Is Easy. Retail Is Hard.
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Nov 28, 2024 
Tony Spring, CEO of Macy's Inc., shares insights on revitalizing the iconic brand amidst evolving retail challenges. Mark Cohen, former director of retail studies at Columbia, discusses the impact of market shifts on traditional stores like Macy's. Jeff Kinney, beloved author of the Diary of a Wimpy Kid series, reveals his commitment to restoring his hometown through his independent bookstore. The conversation dives into the importance of cultural events, customer loyalty, and community connections in navigating the future of retail.
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Macy's Acquisition
- Federated, after emerging from bankruptcy, acquired Macy's.
- Federated then rebranded itself as Macy's Inc., capitalizing on the stronger brand recognition.
Takeover Bid
- Macy's, with a market cap of $4.2 billion, rejected a $6 billion takeover bid.
- Their real estate portfolio is estimated between $7 and $11 billion.
Restructuring Plan
- Macy's plans to close and sell 150 stores, raising $500 million.
- They'll open smaller stores and expand Bloomingdale's and Blue Mercury.
