"As an initial step in this productivity plan, the company has announced a restructuring that reduces the complexity of the upper management structure to increase the speed of decision making, reduce costs and respond to changing customer expectations," Macy's said.
Jim Cramer, when asked about Macy's earnings, says that he still believes that the department store could do better and because of that, it's still a B student in his book.
Watch for Cramer's reaction to Macy's earnings.
Related. Macy's Disappointing Earnings Beat