Top Stories
Top Stories

Macy's CEO on earnings, consumer and store closures

Macy's CEO Terry Lundgren discussed on CNBC the department store's better-than-expected earnings report, the state of the consumer and store closures.

On the consumer, he said Thursday: "Consumers' been spending. They've just been buying automobiles and buying home improvement."

He added, "We've had record sales of cars. They don't need another car. They don't need to fix their home anymore. ... It's my turn. It's our turn."

In June, Macy's announced Lundgren will step down as CEO in 2017 and be replaced by company president Jeff Gennette.

To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.