Terrence James Lundgren (born March 23, 1952) is an American business executive who retired on January 31, 2018, as executive chairman of

Macy's, Inc. Macy's, Inc. (previously Federated Department Stores, Inc.) is an American holding company of department stores. Upon its establishment in 1929, Federated held ownership of the regional department store chains Abraham & Straus, Lazarus, File ...

the parent company of fashion retailers

Macy's Macy's is an American department store chain founded in 1858 by Rowland Hussey Macy. The first store was located in Manhattan on Sixth Avenue between 13th and 14th Streets, south of the present-day flagship store at Herald Square on West 34 ...

Bloomingdale's Bloomingdale's Inc. is an American luxury department store chain founded in 1861 by Joseph Bloomingdale and Lyman Bloomingdale. It was acquired by Federated Department Stores in 1930, which purchased the Macy's department store chain in 1994, ...

, and

Bluemercury Bluemercury is a chain of American beauty stores founded in 1999 by Marla Malcolm Beck and Barry J. Beck in Georgetown, Washington, D.C. The stores sell cosmetics, as well as in-store facials and spa treatments. In addition to selling products fr ...

. He had served for 14 years as chairman and chief executive officer of Macy's, Inc., becoming the company's executive chairman in 2017. He was named an executive in residence at

Columbia Business School Columbia Business School (CBS) is the business school of Columbia University, a Private university, private research university in New York City. Established in 1916, Columbia Business School is one of six Ivy League business schools and one of ...

in 2017.

Early life

Born in

Long Beach, California Long Beach is a coastal city in southeastern Los Angeles County, California, United States. It is the list of United States cities by population, 44th-most populous city in the United States, with a population of 451,307 as of 2022. A charter ci ...

, Lundgren was one of six children. He was the only member of the six that went to college because of his parents' limited financial capacity. His parents stopped paying for his tuition, seeing Lundgren did not have good grades. In response, Lundgren "found a job at a local restaurant in Tucson, where he was responsible for cracking oysters and peeling shrimp." He was eventually "promoted to a waiter, then the head waiter, and then the head manager of the restaurant." Through his job, he was able to graduate from the

University of Arizona The University of Arizona (Arizona, U of A, UArizona, or UA) is a Public university, public Land-grant university, land-grant research university in Tucson, Arizona, United States. Founded in 1885 by the 13th Arizona Territorial Legislature, it ...

Career

After graduating from the

in 1974, he joined Federated Department Stores, Inc. (known as Macy's, Inc. since 2007) and rose quickly to lead the upscale specialty Bullocks Wilshire division in Los Angeles at age 35. He served as CEO of Neiman Marcus before returning to Federated in 1994. Through his career at Macy's, Lundgren is credited with being an innovator in merchandising, branding and localization. He was instrumental in developing the company's private brands of merchandise and led the 2005 merger of Federated and

May Department Stores Company The May Department Stores Company was an American holding company of department stores founded in 1877 by David May. It operated several regional department stores throughout the United States, which were managed as distinct business divisions ...

, creating one of the largest retailers in the world, with more than 800 U.S. stores and 2008 net sales of US$24.9 billion. The May Company acquisition allowed Macy's to become a truly nationwide retailing brand for the first time. Under Lundgren, Macy's implemented a successful "My Macy's", localization initiative in spring 2008 to tailor a portion of every store's assortment to local tastes and color. The company reported that of its top 15 best-performing geographic markets in the key holiday selling month of December 2008, 13 were My Macy's pilot districts. The My Macy's organizational model was then rolled out across the U.S. in 2009 and became a Harvard Business School case study for successful localization within a national retailing model. Lundgren also led Macy's significant investments in ecommerce and mobile shopping, which led it to become one of the largest online retailers in America. Under Lundgren, Macy's, Inc. acquired beauty retailer Bluemercury in 2015. Lundgren has been awarded numerous honors. In 2008, he received the Gold Medal Award from the National Retail Federation, considered the retailing industry's pre-eminent honor. In spring 2008, he was presented with

Carnegie Hall Carnegie Hall ( ) is a concert venue in Midtown Manhattan, New York City. It is at 881 Seventh Avenue (Manhattan), Seventh Avenue, occupying the east side of Seventh Avenue between 56th Street (Manhattan), 56th and 57th Street (Manhattan), 57t ...

's third annual Medal of Excellence for outstanding philanthropic leadership in the arts. The gala held in Lundgren's honor raised $4.2 million for Carnegie Hall. Lundgren was named one of the Top 30 CEOs in the world by ''Barron's'' in 2015. He was Women's Wear Daily'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. Lundgren is very active in the community; he is a trustee of Carnegie Hall and served as commissioner on Women's Economic Development by appointment of the mayor of New York. Also, at the request of NYC Mayor Michael R. Bloomberg he served as one of the industry chairs o
Fashion.NYC.2020
which looked at the future of NYC's fashion industry and made recommendations for actionable steps the NYC government could take to promote NYC's fashion industry He has been presented with numerous 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 Council, Breast Cancer Awareness, NOW Legal Defense, Parsons School, Fashion Institute of Technology and the Ovarian Cancer Society. Lundgren is a former board member of The New York City Partnership and

United Way United Way is an international network of over 1,800 local nonprofit organization, nonprofit fundraising affiliates. Prior to 2015, United Way was the largest nonprofit organization in the United States by donations from the public. Individual Un ...

of New York City, in addition to participating in numerous other charitable and civic efforts. He served for two terms as chairman of the National Minority Supplier Development Council, and was co-chair of the American Heart Association's CEO Roundtable. Lundgren currently serves on the board of directors of the Procter & Gamble Company and previously was a board member of Kraft Foods Inc. He formerly chaired the Economic Club of New York and served on the board of the Federal Reserve Bank of New York. He also served twice (from 2010 to 2013 and again from 2017 to 2018) as chairman of the National Retail Federation, the retail industry's primary trade association.

Personal life

Lundgren was married to Nancy Cross until their divorce; he has two daughters from this marriage. Lundgren married Tina Stephan in 2005. Lundgren is also the namesake of the Terry J. Lundgren Center for Retailing at the

, where he is also an

alumnus Alumni (: alumnus () or alumna ()) are former students or graduates of a school, college, or university. The feminine plural alumnae is sometimes used for groups of women, and alums (: alum) or alumns (: alumn) as gender-neutral alternatives. Th ...

, having graduated in 1974 with a bachelor's degree. In 2000, Lundgren was awarded an honorary doctorate and delivered the university's commencement address.

Professional history

Federated Department Stores Macy's, Inc. (previously Federated Department Stores, Inc.) is an American holding company of department stores. Upon its establishment in 1929, Federated held ownership of the regional department store chains Abraham & Straus, Lazarus (departm ...

: Bullock's division, 1975–1987 * Bullocks Wilshire: 1987–1988, president *

Neiman Marcus Neiman Marcus is an American department store chain founded in 1907 in Dallas, Texas by Herbert Marcus, his sister Carrie Marcus Neiman, and her husband Abraham Lincoln Neiman. It has been owned by Saks Global, a Corporate spin-off, spin-o ...

: 1988–1994, EVP, then chairman/

CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

* Federated Merchandising Group: 1994–1997, chairman/CEO * Macy's, Inc. (called Federated Department Stores, Inc. prior to June 1, 2007): : 1997–2003 President and chief merchandising officer : 2003–2004 President and chief executive officer : 2004–2014 Chairman, president and CEO : 2014–2017 Chairman and CEO : 2017–2018 Executive chairman (retired January 31, 2018)

References

External links

Biography on macysinc.com
{{DEFAULTSORT:Lundgren, Terry J. 1952 births Living people American chairpersons of corporations American retail chief executives University of Arizona alumni American chief executives of fashion industry companies Businesspeople from Long Beach, California