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Macy's CEO Says Retailer Is In 'Great Position' for Holidays

Macy's CEO Terry Lundgren said the department store is in a "great position" this holiday season.

Lundgren estimates between 9,000 and 10,000 shoppers lined up outside the retailer's flagship store in New York's Herald Square for the kick-off of Macy's "Black Friday" sales.

"That says something about the excitment for the bargains that people are getting today," Lundgren told CNBC. However, he declined to comment on what the large crowds say about the state of the U.S. consumer.

Retail industry trade group The National Retail Federation estimates that 152 million people will shop during Thanksgiving weekend, up about 10 percent from last year.
Macy's [M  29.64    0.08  (+0.27%)   ] has had same-store sales growth of about 5.3 percent in the year-to-date period, which according to Lundgren is the strongest it's seen in a decade.

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