How Macy’s can turn around its business as department store struggles

Macy’s needs to reignite its creativity by featuring more exciting products in stores and hosting engaging events to attract younger generations back, according to activist investor Barington Capital.

Those are just two of several changes the activist investor says are necessary to turn around Macy’s, which once established itself as a premier department store but has struggled to keep up with rapid industry changes and competition.

Jim Mitarotonda, the CEO of Barington Capital Group...