Macys Inc Stock Price, News & Analysis

Macy's Inc. (NYSE: M) reported mixed Q4 and fiscal year 2024 results, with Q4 net sales declining 4.3% to $7.8 billion. The company achieved Q4 GAAP diluted EPS of $1.21 and adjusted EPS of $1.80, exceeding guidance.

Key highlights include:

• Q4 comparable sales down 1.1% on owned basis, but up 0.2% on owned-plus-licensed-plus-marketplace basis
• Bloomingdale's showed strong performance with 4.8% owned comparable sales growth
• Bluemercury reported 16th consecutive quarter of growth, up 6.2%
• Cash position strengthened to $1.3 billion, up $272 million year-over-year
• Generated $1.3 billion operating cash flow and $679 million free cash flow

The company announced plans to resume share buybacks under the remaining $1.4 billion authorization. Macy's First 50 locations delivered their fourth consecutive quarter of growth, while luxury nameplates Bloomingdale's and Bluemercury achieved accelerated annual sales growth.

Macy's (NYSE: M) has announced a quarterly dividend increase of 5%, setting the new dividend at 18.24 cents per share on its common stock. The dividend will be paid on April 1, 2025, to shareholders who are on record as of March 14, 2025. This decision was approved by Macy's board of directors, demonstrating the company's commitment to returning value to shareholders.

Macy's has signed a new 10-year rights deal with NBCUniversal for the Macy's Thanksgiving Day Parade and Macy's 4th of July Fireworks, significantly expanding their long-standing relationship. The agreement includes broadcast and streaming rights on NBC, Peacock, and Telemundo, plus a Parade-eve special and a new program to be announced later.

This partnership aims to unlock content opportunities and continue the exponential growth Macy's has experienced recently. The 2024 Macy's Parade reached 31.7 million viewers on NBC and Peacock, an 11% increase from 2023, making it the most-watched Parade ever and the #1 program of the holiday season. Meanwhile, the 48th Macy's 4th of July Fireworks drew 7.6 million viewers in 2024, marking three consecutive years of growth.

Both iconic celebrations will mark significant milestones in 2026, with the Thanksgiving Day Parade celebrating its 100th march and the 4th of July Fireworks reaching its 50th anniversary.

Macy's (NYSE: M) has announced it will release its fourth quarter and fiscal year 2024 financial results on Thursday, March 6, 2025. The company will host an earnings call and webcast at 8:00 a.m. ET, led by Chairman and CEO Tony Spring alongside COO and CFO Adrian Mitchell.

The earnings call will be accessible to financial analysts and investors through a dial-in number (1-877-407-0832), while the general public and media can access the live webcast and presentation materials through the company's website. A replay will be available on the website or via phone (1-877-660-6853) using passcode 13751434.

Macy's marks the 25th anniversary of its prestigious Hotel Collection, a premium lifestyle brand specializing in bedding and bath products. To commemorate this milestone, the company has unveiled a -edition capsule featuring 'Made in Italy' bedding and Turkish cotton bath collections, available through Macy's mobile app, website, and physical stores.

The Hotel Collection has maintained its reputation for exceptional craftsmanship and sophisticated style since its inception, bringing luxury hotel experiences into customers' homes. As part of Macy's Bold New Chapter strategy, the brand has been reimagined with a modernized aesthetic while maintaining its focus on premium quality.

The anniversary collection showcases high-end materials sourced globally, including Italian percale sheets and Turkish towels. The designs feature a blend of muted hues, subtle finishes, and sophisticated motifs, offering both classic and contemporary prints. The celebration will continue throughout the year with special European-made designs, including the Interlace Jacquard and Positano Matelassé Collection.

Macy's (NYSE: M) has appointed Barbie Cameron as Chief Stores Officer, effective February 16. Cameron, who previously served as senior vice president and regional director of stores, East Region, and interim Chief Stores Officer since August, will report to Adrian Mitchell, Chief Operating Officer and Chief Financial Officer.

In her new role, Cameron will lead store operations across Macy's nameplate, including flagships, small format stores, and call center operations. She will focus on modernizing Macy's, improving shopping environments, and enhancing customer and colleague experience as part of the company's Bold New Chapter strategy, a three-year plan for sustainable profitable growth.

Cameron brings 37 years of experience at Macy's, starting as a sales manager and advancing through various leadership positions in merchandising execution and buying. She was named senior vice president and regional director, East Region in 2020.

Bloomingdale's has announced an exclusive collaboration with Warner Bros. Discovery Global Consumer Products to launch The White Lotus x AQUA collection, coinciding with the HBO series' third season set in Thailand. The collection, launching February 3, 2025, will feature women's apparel and accessories inspired by the show's tropical aesthetic.

The line includes beachy items such as two-piece sets, dresses, swimsuits, crochet totes, and sandals, along with casual wear like hoodies, t-shirts, and joggers. The collection will be available both online and in all Bloomingdale's stores, with a special window display at the 59th Street location. The third season of The White Lotus is scheduled to premiere on February 16th on HBO and Max streaming platform.

Bloomingdale's has announced a partnership with Flamingo Estate to transform its Carousel space into a pop-up market at the 59th Street flagship store and online, launching January 23rd through mid-March 2025. The collaboration brings California's garden-grown products to New York, featuring a curated selection of bath & body products, candles, and gourmet pantry goods from over 120 farmers and growers employing regenerative practices.

The partnership includes special in-store activations such as a book signing with founder Richard Christiansen on February 8th, custom calligraphy sessions for olive oil bottles and candles on select Saturdays, and product sampling events. The pop-up aims to recreate the essence of Flamingo Estate's Los Angeles home and garden experience in New York, complete with ceiling decorations featuring fragrant plants.

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.