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.
Macy's, Inc. (NYSE: M) reported its second quarter 2022 financial results, revealing diluted EPS of $0.99, down from $1.08 in Q2 2021. Comparable sales decreased 1.5% (owned) and 1.6% (owned-plus-licensed), while net sales reached $5.6 billion. The company lowered its full-year sales and EPS guidance due to macroeconomic pressures affecting consumer spending. Despite challenges, Bloomingdale's and Bluemercury showed strong performance, highlighting continued consumer interest in luxury goods.
Macy’s, Inc. announced the appointment of Emilie Arel to its board of directors, effective August 15, 2022. Arel, currently CEO of Casper Sleep, brings over 20 years of retail leadership experience, including roles at Target and Gap. Her expertise spans digital transformation and customer experience, aligning with Macy’s growth strategy. The board expansion to 14 members aims to enhance customer engagement through an omnichannel approach. Arel’s background positions her as a valuable asset for shaping Macy’s future.
Macy’s (NYSE: M) will announce its second quarter 2022 sales and earnings results on August 23, 2022, at 8:00 a.m. EDT. A live call and webcast for financial analysts and investors will be hosted, accessible via the company’s website. Participants may call 1-800-458-4121 with passcode 7131743 to join. A replay will be available approximately two hours after the event. Macy’s offers a wide range of quality brands and aims to provide a seamless shopping experience across various platforms.
Macy's and Reading Is Fundamental (RIF) raised over $1.5 million in July to enhance literacy for under-resourced children. This funding supports RIF's Race, Equity and Inclusion initiative and the Rally to Read 100 campaign. Over 18 years, Macy's has contributed more than $46 million toward children's literacy, distributing nearly 15 million books. The partnership aims to bridge the literacy gap exacerbated by the pandemic, fostering accessibility to diverse reading materials.
Macy's (NYSE:M) kicks off back-to-school season by offering a curated selection of fashion, beauty, and dorm essentials for students. The campaign highlights the evolving styles of students and promotes confidence in personal style. Key features include staple clothing such as jeans and hoodies, beauty products from renowned brands, and dorm decor that fosters a home-like vibe. Macy's emphasizes convenience with flexible shopping options, including curbside pickup and same-day delivery through DoorDash. Additionally, the company raised over $1.5 million for children's literacy initiatives, continuing its long-standing partnership with Reading is Fundamental.
Bluemercury has appointed Dr. Elyse Love as its first Dermatologist Advisor, enhancing its commitment to personalized beauty shopping. Dr. Love, a board-certified dermatologist from NYC, will provide expert guidance on product offerings and spa services while developing training materials for Bluemercury's staff. Her role aims to strengthen the retailer's position as a trusted beauty resource. Bluemercury, owned by Macy's, Inc. (NYSE: M), operates over 180 specialty stores across the U.S.
Macy’s (NYSE: M) has launched a limited-edition home and décor line, Akwaaba Inns for Hotel Collection, curated by Monique Greenwood, founder of Akwaaba Inns. The collection features a variety of luxurious items such as bedding, pillows, and bath towels, ranging in price from $22.99 to $259.99. Available on macys.com, the mobile app, and select stores, this collaboration aims to offer consumers unique design options. Greenwood expresses excitement over this partnership, highlighting a commitment to customer self-expression through stylish home goods.
Food Network star Molly Yeh is set to debut her first kitchenware collection, Girl Meets Farm™, exclusively at Macy’s (NYSE: M). The collection features a wide range of kitchen essentials including cookware, bakeware, and textiles, designed to merge functionality with a vibrant aesthetic, reflecting Yeh's personal style. Prices range from $9 to $129. Available on macys.com and at select Macy's stores across the nation, this launch marks a significant expansion for both Yeh and Macy's into home goods.
Macy’s has announced the opening of four new Market by Macy’s locations across the U.S. in Fall 2022 as part of its Polaris strategy. The new stores include a dual-location featuring Macy’s Backstage, enhancing customer experience with a curated assortment of fashion trends. The first location opens in Suwanee, GA on August 20, with further locations in Chesterfield and Evergreen Park. This expansion reflects Macy’s strategy to reposition its footprint while replacing underperforming stores.
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