Macy's Names New Merchandising Head

Macy's Inc. named Peter Sachse new chief growth officer, the company said Monday. Sachse, who was chief innovation and business development officer for the past year, will oversee merchandising for Macy's, off-price retailer Macy's Backstage, luxury beauty brand BlueMercury, and international expansion. Justin MacFarlane has joined the company as chief strategy, analytics and innovation officer. MacFarlane joins from Ann Inc., an Ascena Retail Group Inc. company, where he was senior vice president of corporate strategy. Both of the jobs at Macy's are new positions, said Chief Executive Terry Lundgren in a press release. Macy's shares were up 0.7% in Monday trading, but down 36.3% over the past year. The S&P 500 is down 3.1% for the previous 12 months.