How Ralph Lazarus addressed Macy's Inc. analysts posthumously this week

Late chairman: Always room for "the right store"

How far will Macy’s Inc. go to impress Wall Street analysts?

This week, they called upon the ghost of Ralph Lazarus to convince attendees of the Nomura Securities Retail Conference that their strategies are sound, if not timeless.

One of Cincinnati’s most beloved business leaders, Lazarus was chairman of Macy’s predecessor, Federated Department Stores Inc. He was the son of the company’s founder and co-founded the powerful Cincinnati Business Committee with former Procter & Gamble Co. CEO Ed Harness, among other accomplishments.

Lazarus died in 1988 but was summoned for a New York appearance this week by Macy’s Chief Financial Officer Karen Hoguet. She told analysts attending the Nomura Securities Retail Conference in New York that she recently found a speech Ralph Lazarus gave to financial analysts in Boston in 1963.

Become a WCPO Insider to see what Lazarus had to say.

To continue reading: Subscribe Now or