Macy's Newest Hire Speaks Volumes About Its Future

With nothing more than a passing glance, it looks like a throwaway announcement, or a courtesy notification meant to be read and forgotten: Macy's (NYSE: M) is hiring a new senior vice president. But it's probably got dozens of them, so no biggie.

There's something about Monday's news release, however, that arguably means more than it seems on the surface. This new employee is charged with steering Macy's private-label effort, which was a fresh priority for the department store chain before the COVID-19 pandemic had most of the company's brick-and-mortar retailing on its heels. Now it's coming back into focus at a time when house brands are more important than ever.

Better still, Macy's newest executive was recruited away from the competitor that arguably does private label better than any other retailer.

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Source Fool.com