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Macy's CFO Talks Coupons and Customers at Barclays Conference

Karen Hoguet told investors that the retailer wouldn’t be changing its approach to coupons, and offered up a history lesson as well.

DON’T DISCOUNT THE COUPON: Chief executive officer Ron Johnson might have pulled coupons out of J.C. Penney Co. Inc., but by doing so he also pushed retail’s love-hate relationship with the discounts into the spotlight. Macy’s Inc. chief financial officer Karen Hoguet told investors at the Barclays Retail and Restaurants Conference that the retailer wouldn’t be changing its approach to coupons, and offered up a history lesson as well. “We bought May Co., tried to reduce the coupons Day One and it was a failure,” Hoguet said. “I mean, you all remember it. It didn’t work.…People love these coupons. They love thinking they got us. They love getting the value. So I know, intellectually, couponing sounds complicated and not a good thing, but I am telling you from the customer perspective, it’s been very important. If I were starting from scratch, would I want to start that way? No, but customers are used to it and frankly they love them.”

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