By and  on July 14, 2008

The tough economy has Terry Lundgren rallying his troops.

Striking back after Wall Street concluded a dismal week Friday as doubts about the economy, retailing in general and his firm in particular dropped the company's stock and dozens of other retail issues to new 52-week lows, the Macy'sInc. chairman, president and chief executive officer went on the offensive, writing a letter to his management reassuring them about the company's financial condition and competitiveness.

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