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Macy's Inc. (symbol: M) is a premier American retail company headquartered in New York City, originally founded in 1858. Macy's operates an extensive network of approximately 500 stores under its own name, nearly 60 stores under the Bloomingdale's and Bloomie's nameplates, and 159 freestanding Bluemercury specialty beauty stores. The company also runs several e-commerce platforms that cater to a global customer base.
Macy's core business revolves around the sale of women's apparel, accessories, shoes, cosmetics, and fragrances, which accounted for 62% of its 2023 sales. The company is continually expanding its product lines to meet diverse consumer demands, ensuring a broad spectrum of offerings from luxury brands to everyday essentials.
Recent achievements include strategic partnerships and licensing arrangements, such as the operation of Bloomingdale's stores in the United Arab Emirates and Kuwait. These ventures have helped Macy's extend its footprint beyond the United States and tap into emerging markets.
Financially, Macy's has shown resilience amidst varying economic conditions. The company's focus on enhancing its digital platforms has paid off, contributing significantly to its overall revenue. Macy's also prides itself on a rich history of innovation and customer engagement, which continues to drive its success in a competitive retail landscape.
Macy's latest news includes updates from internal sources and key stakeholders like Arkhouse Management Co. LP. These updates ensure investors and customers are well-informed about the company's ongoing projects and future prospects.
Macy’s, Inc. (NYSE: M) provided an update on its fiscal fourth-quarter 2024 results and outlook. The company's go-forward business achieved quarter-to-date comparable sales growth, with Macy’s First 50 locations and luxury nameplates Bloomingdale’s and Bluemercury continuing their positive trend. Macy’s digital channel also saw comparable sales growth. However, overall comparable sales were roughly flat, with non-First 50 locations underperforming and generating negative comparable sales.
For the fourth quarter, Macy’s expects adjusted diluted earnings per share to be in-line with the previously issued range of $1.40 to $1.65 and net sales to be at, or slightly below, the low-end of the $7.8 billion to $8.0 billion range. CEO Tony Spring highlighted the success of the Bold New Chapter strategy, which is on track for a second quarter of sequential comparable sales improvement. The company plans to expand initiatives to an additional 75 Macy’s locations in Fiscal 2025.
Macy’s will report full results for the fourth quarter and fiscal year 2024 in early March 2025. Key executives will participate in the 2025 ICR Conference in Orlando, FL, with a live webcast available on the investor relations section of the Macy’s website.
Macy's (NYSE: M) has confirmed the closure of 66 store locations as part of its Bold New Chapter strategy announced in February 2024. The plan aims to achieve sustainable, profitable growth by closing approximately 150 underproductive stores over three years while investing in 350 go-forward locations through fiscal 2026.
The company's pilot program, known as First 50, has shown positive results with increased sales for three consecutive quarters and record customer satisfaction scores. Macy's is focusing resources on better-performing stores with improved product offerings and elevated service. The company enters 2025 positioned to build momentum with a stronger store fleet and enhanced customer experience both in-store and through digital channels.
Macy's (NYSE: M) has announced its participation in the 2025 ICR Conference in Orlando, FL. Key executives including Tony Spring (Chairman and CEO), Adrian Mitchell (COO and CFO), and Nata Dvir (Chief Merchandising Officer) will engage in a fireside chat scheduled for 8 a.m. ET on Tuesday, January 14, 2025.
The event will be accessible through a live webcast on the investor relations section of Macy's website. Interested parties can view the recording for up to 90 days following the conference on www.macysinc.com/investors.
Macy's, Inc. (NYSE: M) has appointed Robert Chavez as an independent director to its Board of Directors, effective April 1, 2025. Chavez brings over 45 years of experience in the retail industry, focusing on the luxury sector. He has served as President and CEO of Hermès Americas for 24 years, where he expanded e-commerce, product offerings, and store locations across the U.S., Canada, and Latin America. Previously, Chavez was CEO of Etienne Aigner Group and began his career in the Bloomingdale’s Executive Development program, later working as a Divisional Merchandising Manager at Macy's.
Chavez's appointment aims to leverage his extensive retail and leadership experience to help Macy’s capture market share across its three brands: Macy’s, Bloomingdale’s, and Bluemercury. Tony Spring, Chairman and CEO of Macy’s, expressed confidence in Chavez's ability to contribute to the company's growth initiatives.
Additionally, Sara Levinson will not seek reelection at the 2025 Annual Meeting of Shareholders due to the Board's mandatory retirement age policy. Levinson has been a board member since 2004, serving on several committees. Paul Varga, Macy’s lead independent director, acknowledged her contributions and welcomed Chavez as part of the board's ongoing refreshment strategy.
Lucky has announced a strategic partnership with Bloomingdales to enhance luxury shopping experience by integrating Direct-To-Consumer (DTC) websites with Bloomingdales' in-store inventory. The collaboration enables online shoppers to check real-time product availability at local Bloomingdales stores while browsing brand websites, with options for same-day pickup or delivery.
The integration allows brands to connect their customers with retail inventory, track conversions on their eCommerce websites, and leverage Bloomingdales' inventory feed. Brands can attribute retail sales to online channels and understand consumer demand for local fulfillment in real-time. The partnership aims to bridge online discovery with immediate accessibility across Bloomingdales' locations in major metropolitan areas.
Macy's Inc. (NYSE: M) reported Q3 2024 financial results with net sales decreasing 2.4% to $4.7 billion. The company achieved GAAP diluted EPS of $0.10 and Adjusted diluted EPS of $0.04, exceeding prior guidance. Notable highlights include:
- Macy's First 50 locations delivered 1.9% comparable sales growth
- Bloomingdale's reported comparable sales growth of 1.0% (owned) and 3.2% (owned-plus-licensed-plus-marketplace)
- Bluemercury achieved 3.3% comparable sales growth
The company recorded asset sale gains of $66 million and completed an investigation into delivery expense misstatements, finding no material impact on previous financial statements. Macy's updated its 2024 guidance, projecting net sales of $22.3-22.5 billion and adjusted diluted EPS of $2.25-$2.50.
Macy's announces its holiday shopping offerings and last-minute gift options, featuring exclusive deals and curated gift selections across multiple categories. The company has transformed its traditional gift guide with actress Alison Brie as its character. Key shopping deadlines include standard shipping cutoff on December 21 at 5:00pm ET and express shipping on December 22 at 12:00pm ET.
The retailer offers extensive gift options across various price points, including stylish accessories, tech gadgets, home decor, and beauty products from premium brands. Special One Day Sales are scheduled for December 13 and 20. Store hours on Christmas Eve will be 8:00am to 7:00pm, with stores closed on Christmas Day and reopening December 26 at 9:00am.
Macy's (NYSE: M) has announced it will release its third quarter 2024 sales and earnings results on December 11, 2024. The company will host a financial analysts and investors call at 8:00 a.m. EST, led by Chairman and CEO Tony Spring and COO/CFO Adrian Mitchell. The webcast and presentation will be accessible to the public and media through Macy's website. A replay will be available online and via phone approximately two hours after the call's conclusion.
Macy's (NYSE: M) has responded to presentations from Barington Capital Group and Thor Equities by reaffirming its commitment to shareholder value creation. The company expressed confidence in its Bold New Chapter strategy, which is reportedly gaining traction across all three pillars.
The Board of Directors and management team emphasized their dedication to delivering sustainable, profitable growth and maintaining an open-minded approach to reviewing company strategy and capital allocation. Macy's plans to provide more details about its progress during the upcoming third quarter results announcement and fourth quarter outlook.
Barington Capital Group and Thor Equities, shareholders of Macy's (NYSE: M), published a detailed presentation recommending changes to improve shareholder value. The investors highlight that Macy's shares have declined approximately 70% over the past decade despite spending $9.7 billion on capital expenditures.
The investors propose several key changes including: reducing capital expenditures to 1.5-2% of total sales, repurchasing $2-3 billion in stock over three years, creating a separate real estate subsidiary to optimize real estate assets valued at $5-9 billion, and evaluating strategic alternatives for Bloomingdale's and Bluemercury luxury operations.
While supporting the new CEO's 'Bold New Chapter' strategic plan, which includes closing low-productivity stores, the investors believe their recommendations could lead to a 150-200% total return for stockholders over three years.
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