Macy's, Dillard's reap returns on turnaround investments

03/26/2012 | Houston Chronicle (tiered subscription model)

Department stores have struggled as consumers decamped for discount chains, specialty stores and online retailers, but Macy's and Dillard's have found recipes for success. Both chains cut costs, increased private labels and exclusive brands and invested online, all of which has paid off in higher sales and earnings. "I can't recall the balance sheet being in better shape than it is today," said Macy's president and CEO Terry Lundgren.

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