Macy’s CEO Looks to Costco for Inspiration During Turnaround

Macy’s Inc. Chief Executive Officer Tony Spring said he looks to an unexpected competitor as he works to turn around the department store operator: Costco Wholesale Corp.

“There’s love for the Costco brand,” Spring said in an interview with Bloomberg TV. “The experience that people have is consistent enough that it reinforces that. That’s what I want for Macy’s.”

Since taking the helm of Macy’s and its Bloomingdale’s and Bluemercury chains in February 2024, Spring has been closing less profitable stores to focus investment on top-performing locations.

Last week the company reported better-than-expected results for the most recent quarter, ...