Why Macy's Inc. Stock Popped Today

Shares of Macy's (NYSE: M) rose 4.6% on Tuesday after the department store retailer unveiled an ambitious restructuring plan and hired eBay execuctive Hal Lawton as president of the company.

Lawton previously served as senior vice president of eBay's North American operations, and will "be responsible for all aspects of Macy's brand, including merchandising, marketing, stores, operations, technology and consumer insights and analytics." He'll report directly to Macy's CEO Jeff Gennette.

IMAGE SOURCE: MACY'S.

Source: Fool.com