as 55-year-old jeff gannett moves into the suite. gannett has been with macy's his entire career starting in the executive training program in 1983. he was elevated to president and heir apparent three years ago. while most say he is ready and right for the job, e he inherits the store at a difficult time. macy's shares have lost half their value in the last two years as comparable sales have fallen for eight straight quarters and the retailer is also closing 100 stores as traffic falls at many of its locations and in malls. >> i think jeff in general needs to really think about several factors. the rise of off price and how do they compete against tj max, ross stores and others. we need more people to go to the mall. more physical traffic. that's a big issue, too. then the consumer. the consumer has profoundly changed, they need to get goods in the store quicker in terms of the supply chain, responding to fashion trends, as well as just getting your stuff really quickly. >> gannett gave wall street a glimpse into its plan for macy's