Macy’s, Inc. Introduces Its Social Purpose Platform: Mission Every One

Rhea-AI Summary

Macy’s announces its new social purpose platform, Mission Every One, committing to invest $5 billion by 2025 to foster equity and sustainability. This initiative seeks to enhance corporate citizenship through a focus on three impact pillars: people, communities, and planet. Key actions include increasing diversity in leadership to 30% by 2025, raising minimum pay rates to $15 per hour, and supporting youth initiatives with over $100 million. The plan also includes a sustainable products expansion, aiming for 100% preferred materials by 2030.

Positive

• Commitment of $5 billion by 2025 for equity and sustainability initiatives.
• Focus on increasing leadership diversity with a target of 30% ethnically diverse representation by 2025.
• Raising the minimum pay rate to $15 per hour to enhance employee satisfaction and retention.
• Investing $100 million to support nonprofits focused on youth education and emotional well-being.
• Expanding sustainable product offerings, aiming for 100% preferred materials in private brands by 2030.

Negative

• None.

Macy’s, Inc. Commits to Spend $5 Billion by 2025 to Create a More Equitable and Sustainable Future

Mission Every One is Macy’s, Inc.’s commitment to create a brighter future with bold representation for all

NEW YORK--(BUSINESS WIRE)-- Macy’s, Inc. (NYSE: M) today announced the launch of its enterprise-wide social purpose platform – Mission Every One – to build on the company’s heritage of corporate citizenship and to achieve positive societal change. With Mission Every One, Macy’s, Inc. commits to leveraging its resources, talent, and scale to create a brighter future with bold representation for all. The social purpose platform is built on three pillars of impact – people, communities, and planet – and will direct $5 billion of the company’s spend, scaling through 2025, to the partners, products, people, and programs that help create a more equitable and sustainable future.

“Macy’s, Inc. has long been a strong partner to the local communities in which we operate. But today, as all stakeholders expect more of corporations – and of us – we are taking steps to strengthen how our work contributes to the common good. We are transforming our business from a position of legacy to one of leadership. In this evolution, how we run the business is as important as what we sell. As part of our transformation, we seized the opportunity to create a social purpose platform that leverages our scale, unique strengths and culture to create more meaningful change in the world,” said Jeff Gennette, chairman and chief executive officer of Macy’s, Inc. “Mission Every One will be an essential part of how we operate and the decisions that we make as a business. We believe that when our business enables everyone to stand in their truth and have a seat at the table, they realize their full potential, which unlocks innovation and progress for all.”

PEOPLE

Macy’s, Inc. recognizes and rewards the diverse community of colleagues and partners that fuel our mutual growth and innovation.

• Designing a More Inclusive Future of Style: Macy’s, Inc. is increasing its investment in underrepresented designers, brands and business partners, products, and service providers across Macy’s and Bloomingdale’s to amplify diverse voices, create more choices and expand opportunities for our colleagues, partners, and communities. A portion of the company’s overall $5 billion commitment will support retail and non-retail diverse-owned businesses, investments in diverse retail development programs including “The Workshop at Macy’s,” and expand the certified sustainable products that we offer.
  • “The Workshop at Macy’s,” the retail industry’s longest running retail development program for underrepresented suppliers has helped support and grow more than 175 diverse and women-owned businesses since 2011. Created to provide underrepresented businesses with the tools, knowledge and access to resources that would help them scale their enterprises in the retail industry, “The Workshop at Macy’s” serves as a game-changing program that opens doors to new opportunities. A new cohort of participants will join the program in April 2022.
  • Additionally, since joining the Fifteen Percent Pledge in 2020, Macy’s, Inc. now carries five times the number of Black-owned brands following its renewed commitment to increase exposure.
  • To help customers find and choose more sustainable products Macy’s will increase its digital assortment by 5,000 product pages on the macys.com sustainability sitelet, from all product categories. The expansion of certified sustainable products will also go beyond third-party certification to include sustainable innovations, specifically in the area of circular solutions, as the company prioritizes opportunities that extend the life of a product.

• Diversifying Company Leadership: To more closely reflect the customers it serves, Macy’s, Inc. is accelerating representation goals for its leadership by achieving 30% ethnically diverse representation by 2025 at the Director level and above. The Macy’s, Inc. Human Capital Report outlines steps being taken to achieve this goal.

• Fully funded Education for Colleagues: Beginning this month, the company is providing an enterprise-wide, fully funded education benefit program for all its colleagues through Guild Education, investing approximately $35 million over the next 4 years. Available programs include courses for high school completion, college prep, English language learning, associate and bachelor’s degrees, bootcamps and professional certificates from a variety of higher learning institutions.

• Raising the Minimum Pay Rate: As announced last fall, the company is raising the minimum pay rate for colleagues at all Macy’s, Inc. businesses to $15 per hour by May 1, 2022, furthering its mission to be the preferred employer everywhere it operates by offering competitive pay and benefits.

• Advancing Rights, Justice, and Equal Opportunity: To advance a more equitable future, Macy’s, Inc. is focusing its corporate grant funding towards organizations on the front lines of advancing human rights, racial justice, workforce development and economic opportunity. These partnerships include the Human Rights Campaign, National Urban League, Hispanic Federation, and the Asian American Business Development Center.

COMMUNITIES

Macy’s, Inc. empowers the curiosity and confidence of young people on their journey to become the leaders of tomorrow.

• Supporting Youth Well-being, Learning and Leadership: As part of its commitment to empower future leaders, Macy’s, Inc. will donate more than $100 million by 2025 to nonprofit organizations that support the emotional well-being and education of underrepresented youth, as well as environmental stewardship. These organizations include Girls Inc., The Trust for Public Land, APIA Scholars, and The Trevor Project; among others. Donations will be funded through customer giving and round-up campaigns in addition to corporate grants and colleague donations across Macy’s and Bloomingdale’s.

Macy’s, Inc. engages its customers, colleagues, nonprofit and community partners in mission-led campaigns year-round and will expand these initiatives moving forward. In 2021 alone, together we donated more than $34 million and volunteered 45,000 hours for community partners.

• Macy’s and Bloomingdale’s recently completed Black History Month campaigns raising a combined total of more than $1.4 million for youth education and Historically Black Colleges and Universities with partners UNCF and the Thurgood Marshall College Fund.
• In honor of Women’s History Month, from March 1 through March 31, Macy’s customers can directly impact and empower a new generation of women leaders through a charitable round-up campaign to support Girls Inc., an organization that provides mentorship to young women nationwide. Customers can donate online at macys.com or round-up their in-store purchase amount and donate the extra change, up to $0.99.

• Inspiring the Next Generation of Designers and Creators: Macy’s is committed to providing $2 million by 2025 to support programs and scholarships for underrepresented youth in fashion, design and sustainability, and offering mentorship and employment opportunities throughout the business.

PLANET

Macy’s, Inc. curates and creates sustainable products and services so that both people and planet can thrive together.

• Increasing Use of Sustainable Materials: Macy’s, Inc. is increasing the use of sustainably sourced raw materials and fibers incorporated into the design of its private brand products – including cotton, synthetic and all wood-based materials – to support its goal of achieving 100% preferred materials in Macy’s private brands by 2030.

• Caring for People and Planet: Within our global value chain, Macy’s, Inc. seeks to advance worker’s rights, women’s equality, and family well-being with its private brands suppliers by investing $500K by 2025 with nonprofits including Fashion Makes Change that support suppliers and their factories. The company will also conduct worker well-being via social and environmental audits of 100% of the company’s Strategic Tier-1 private brands supplier facilities.

• Innovating for a More Sustainable Future: Macy’s, Inc. is improving its operations by investing in sustainable innovations that help reduce, reuse, and repurpose materials to eliminate waste. The company is developing Science Based Targets (SBTi) to reduce its emissions and align with climate science guidelines. Find more information on the company’s sustainability goals and progress at Macy’s, Inc. Sustainability Report.

The $5 billion spend commitment is contemplated in the financial outlook provided by the company on February 22, 2022. For more information on Mission Every One, visit macysinc.com/purpose.

About Macy’s, Inc.

At Macy’s, Inc. (NYSE: M), we are a trusted source for quality brands at great values from off-price to luxury. Across our iconic nameplates, including Macy’s, Bloomingdale’s and Bluemercury, we help our customers express their unique style and celebrate special moments, big and small. Headquartered in New York City, we operate one of retail’s largest e-commerce businesses integrated with a nationwide footprint to deliver the most convenient and seamless shopping experience. Our purpose is to create a brighter future with bold representation – so we can realize the full potential of every one of us. For more information, visit macysinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220228006193/en/

Media

Sheikina Liverpool

Sheikina.Liverpool@macys.com

Orlando Veras

Orlando.Veras@macys.com

Investors

Mike McGuire

investors@macys.com

Source: Macy’s, Inc.

FAQ

What is Macy's new social purpose platform called?

Macy's new social purpose platform is named Mission Every One.

How much is Macy's committing to invest by 2025 for sustainability?

Macy's is committing to invest $5 billion by 2025 for sustainability and equity initiatives.

What are the three pillars of Macy's 'Mission Every One'?

The three pillars of Macy's 'Mission Every One' are people, communities, and planet.

What is Macy's target for leadership diversity by 2025?

Macy's aims for 30% ethnically diverse representation in leadership roles by 2025.

What is the minimum pay rate Macy's plans to implement?

Macy's plans to raise the minimum pay rate to $15 per hour by May 1, 2022.