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BRIEF-Macy's names Hal Lawton president
August 21, 2017 / 9:57 PM / a month ago

BRIEF-Macy's names Hal Lawton president

Aug 21 (Reuters) - Macy’s Inc

* Hal Lawton named President of Macy’s

* Macy’s Inc - ‍Restructuring includes consolidation of three functions - Merchandising, Planning and private brands​

* ‍Company also announced restructuring of its merchandising operations​

* Macy’s Inc says company anticipates it will save approximately $30 million on an annual basis from restructuring

* Macy’s Inc says anticipates one-time costs of approximately $20 - $25 million associated with restructuring, to be booked primarily in Q3 of 2017

* ‍Company expects that the restructuring actions will result in a headcount reduction of approximately 100​

* Macy‘s-Consolidation of 3 functions into one merchandising function to be led by Jeff Kantor, organized around 5 ‘Families-of-business’​

* Macy‘s- Sees savings due to restructuring of about $5 million or about 1 cent/share in Q4 2017, which is additive to previously provided earnings guidance​

* Macy’s Inc - ‍ Lawton was most recently senior vice president, eBay North America​ Source text for Eikon: Further company coverage:

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