NEW YORK, Sept. 29 (UPI) -- Macy's hopes to woo back disgruntled shoppers by offering lots of coupons for the holiday season, The New York Times reported Saturday.
Macy's attempt to wean shoppers off coupons backfired after it completed its takeover of 410 department stores around the country a year ago, The Times reported.
Macy's stock has dropped 40 percent since it acquired Marshall Field's, Filenes, and May Department Stores, which owned 11 chains around the country. Macy’s changed all the store names to Macy's, a move that upset loyal customers, and then it stopped offering coupons.
“Now that Macy’s doesn’t do coupons, I don’t buy shoes there,” said former customer Karen Gundling, 41, of Parma, Ohio.
Macy's chief executive Terry J. Lundgren said the company has seen the error of it ways and is going back to coupons. “The strategy is crystal clear, and I know we are on the right track,” Lundgren said of Macy's reversal.
