Welcome to our dedicated page for Macy's news (Ticker: M), a resource for investors and traders seeking the latest updates and insights on Macy's stock.
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.
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.
Macy's (NYSE: M) reported preliminary Q3 2024 results with net sales decreasing 2.4% to $4.742 billion. The company's First 50 locations achieved their third consecutive quarter of positive comparable sales growth, up 1.9%. Bloomingdale's and Bluemercury showed positive performance with comparable sales growth of 3.2% and 3.3% respectively. The company reported asset sale gains of $66 million, ahead of expectations.
However, Macy's delayed its Q3 earnings release due to the discovery of erroneous accounting entries related to delivery expenses, amounting to $132-154 million, made by a single employee from Q4 2021 through Q3 2024. The company expects to report full Q3 2024 results by December 11, 2024.
Macy's has announced its Black Friday and holiday season deals running from November 14 through December 3. The campaign includes Black Friday Now sales and the first-ever Parade of Deals, offering significant discounts across multiple categories including apparel, accessories, home goods, toys, beauty, and tech. Key offerings include 50-65% off select coats, up to 75% off fine jewelry, and substantial discounts on popular brands like Nike, Calvin Klein, and Dyson. Stores will be closed on Thanksgiving but will reopen on November 29 with extended hours from 6:00am to 11:00pm. The company has set shipping deadlines with December 21-22 as cutoff dates for standard and express shipping respectively.
Macy's (NYSE: M) has announced it will release its third quarter 2024 sales and earnings results on Tuesday, November 26, 2024. The company will host a conference call and webcast for financial analysts and investors at 8:00 a.m. EST. CEO Tony Spring and CFO Adrian Mitchell will lead the call. The public and media can access the live webcast and presentation through Macy's website. Analysts and investors can participate by calling 1-877-407-0832, with a replay available afterwards.
Bloomingdale's announces its Wicked Good Holiday campaign in partnership with Universal Pictures' Wicked film. The collaboration launches online November 5 and in-store November 7, featuring an exclusive AQUA collection with 70+ items, a Wicked Good Holiday pop-up shop with over 100 exclusive products from 150 brands, and themed in-store experiences. The iconic 59th Street flagship window unveiling on November 13 will be hosted by film star Cynthia Erivo, featuring performances by Broadway stars. The campaign includes a transformed Santaland, immersive gift shops, brand pop-ups, and nationwide holiday celebrations.
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