Macy’s CEO says retailer at good place for fall

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Updated: May 20, 2011 2:14PM

CINCINNATI — Macy’s CEO says there will be winners and losers among retailers going into the fall season amid inflation worries, but he feels the department store chain is in a good position.

Macy’s CEO Terry Lundgren gave a glowing report to shareholders meeting in Cincinnati Friday highlighting what he called “an outstanding first quarter.” After the meeting, he told reporters he thinks Macy’s broad assortment of products and brands means that there will be plenty of its product categories that won’t be affected by inflation.

He says customers won’t see price increases in many areas of Macy’s stores and Macy’s vendors that are raising prices are adding quality to give consumers more of a reason for the increases.

Lundgren believes retailers that will have problems are those offering very basic products.