Macy's taps retail vet as chief legal officer

Macy’s, Inc. has announced its new chief legal officer.

Tracy Preston will fill the position and serve as corporate secretary for the department retailer effective Jan. 8, 2024. Preston will report to president and CEO Tony Spring.

As chief legal officer at Macy’s, Preston will be responsible for a broad range of legal affairs, litigation and compliance, including employment, real estate, credit, commercial and regulatory matters, enterprise security and internal audit. Additionally, she will act as legal advisor to senior leadership and the board of directors in her role as corporate secretary.

Prior to joining Macy’s, Preston served as chief compliance officer, chief legal officer and corporate secretary of HanesBrands Inc., beginning in March 2021. Before that, she held the same titles at Neiman Marcus Group for more than eight years. Earlier in her career, she held several legal positions at Levi Strauss & Co.

“Tracy is a trusted legal and compliance expert, and I’m delighted to welcome her to our leadership team,” said Spring. “For the past three decades, she has counseled global apparel and retail companies on strategic, business, operational and tactical matters, ensuring her experience will be an asset. Importantly, she brings a track record of aligning legal and risk mitigation approaches with business objectives and brand missions.”

In its latest quarter, Macy’s reported better-than-expected results, with net income falling to $43 million, or $0.15 a share, for the quarter ended Oct. 28, from $108 million, or $0.39 a share, in the year-ago period.

In October, Macy’s said that it planned to open up to 30 smaller-format stores through fall 2025, about one-fifth the size of a standard store.