Macy's Inc. - M STOCK NEWS

Macy's, Inc. has achieved a significant milestone with its social purpose platform, Mission Every One, directing $1.4 billion in 2022 towards creating a more equitable and sustainable future. The company plans to allocate a total of $5 billion through 2025 to partners and programs focusing on people, communities, and the planet. The initiative has already begun transforming business operations, supporting diverse-owned businesses, and funding educational and community programs. With $34 million contributed to community partners and successful diverse supplier integration, Macy's is committed to ongoing evolution in social responsibility.

Macy’s, Inc. (NYSE: M) has announced the appointment of Naveen Chopra to its board of directors, effective April 1, 2023. Chopra, who is currently the chief financial officer of Paramount Global, brings extensive financial leadership experience from previous roles at Amazon, Pandora Media, and TiVo Corporation. This appointment is expected to bolster the board’s expertise in finance, digital, and innovation. Concurrently, board members John Bryant and Leslie Hale will not seek re-election at the 2023 annual meeting, marking a significant shift in board composition. The board will then consist of 13 members, with Chopra joining the Audit and Finance Committees.

Tony Spring, CEO of Bloomingdale's, announced the promotion of Denise Magid to Chief Merchandising Officer, effective March 21, 2023. This newly created role aims to enhance Bloomingdale's merchandising strategies and partnerships, driving the brand's future growth. The decision follows a successful 2022 performance and the company's 150th anniversary. Magid, who has a strong retail background from Saks Fifth Avenue and Intermix, expressed her enthusiasm about leading this transformative phase. Bloomingdale's, a division of Macy's (NYSE: M), operates 34 stores nationwide and has an international presence.

NEW YORK--(BUSINESS WIRE)--Macy’s (NYSE: M) announced that CFO Adrian Mitchell will join a fireside chat at J.P. Morgan’s 9th Annual Retail Round Up. This event is scheduled for 8:00 a.m. EDT on Thursday, March 30, 2023.

A live webcast will be accessible on the investor relations section of www.macysinc.com/investors, with a recorded version available after the event.

Macy’s operates well-known brands including Macy’s, Bloomingdale’s, and Bluemercury, focusing on offering a wide range of products and a seamless shopping experience.

Macy’s is enhancing its partnership with Reebok, expanding the range of activewear and lifestyle products for all ages. This includes exclusive collections and extended sizes, available starting today at prices ranging from $25 to $85. The collaboration will see Reebok develop exclusive apparel for Macy's, bolstering its sportswear assortment. Key items include the award-winning Lux Legging & Bra and the retro Classics Vector Track Jacket & Pants. This partnership positions Macy’s as a leader in the activewear market, offering diverse styles and innovative designs.

Macy’s will host its 2023 Flower Show featuring DIOR at Herald Square from March 26 to April 10. This year’s theme showcases a whimsical floral landscape, with thousands of live flowers and plants, transforming the store into a dream-like city in the sky. The event is free and open to the public, although the store will close on Easter Sunday.

DIOR will present an exclusive floral journey, offering personalized experiences, and special events led by fragrance experts. Macy’s continues its partnership with the Fashion Institute of Technology, featuring student-designed window displays. Following the event, many plants will be donated to the Henry Street Settlement.

Macy's, Inc. reported its Q4 and FY 2022 financial results, highlighting Q4 comparable sales down 3.3% on an owned basis, while FY 2022 comparable sales rose 0.3%. Q4 diluted EPS was $1.83 and adjusted EPS at $1.88, including a $46 million tax benefit. Net sales for Q4 reached $8.3 billion, down 4.6% year-over-year. The company anticipates FY 2023 net sales between $23.7 billion and $24.2 billion, predicting a decline of up to 3%. Macy's maintains a strong balance sheet and disciplined inventory management strategy amidst macroeconomic uncertainties.

The board of directors of Macy's, Inc. has declared a quarterly dividend of 16.54 cents per share, marking a 5% increase. This dividend is payable on April 3, 2023, to shareholders on record as of March 15, 2023. This decision reflects the company’s commitment to returning value to its shareholders, showcasing confidence in its ongoing operations and financial stability.

For further information on Macy's operations, visit macysinc.com.