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 (NYSE:M) is enhancing the holiday shopping experience with a newly redesigned mobile app, curated gift selections, and flexible shipping options. The app, launching on October 15, features improved navigation, personalized recommendations, and contactless payment options, including PayPal and Venmo. The "Buy a Coat and We'll Donate One" campaign aims to donate up to 20,000 coats to those in need over the weekend of October 9-10. With sustainability-focused shopping experiences and interactive live shopping events, Macy’s is committed to providing exceptional service and innovation this holiday season.
Macy's, Inc. (NYSE: M) appointed Ashley Buchanan, CEO of The Michaels Companies, and Tracey Zhen, President of Zipcar, to its board of directors on October 5, 2021. Buchanan brings extensive retail experience and a successful omnichannel transformation at Michaels, while Zhen has nearly two decades in consumer technology with a focus on innovation. Their appointments aim to enhance Macy's integration of digital and in-store shopping, furthering the company's Polaris strategy for profitable growth.
Geoffrey's Hot Toy List for 2021, featuring 75 top toys, has been unveiled by Macy's in collaboration with Toys“R”Us. This curated selection highlights trending toys inspired by popular characters, designed to promote family engagement and imaginative play. Customers can explore and purchase these must-have items at macys.com/hottoylist. Additionally, Macy’s is hosting Geoffrey’s Toy Extravaganza Sweepstakes starting November 1, offering chances to win toys, including the top ten from the list. Exciting shopping options like same-day delivery and curbside pickup are also available.
Macy’s, Inc. announced plans to hire approximately 76,000 full- and part-time employees for its brands, including Macy’s, Bloomingdale’s, and Bluemercury. Of these, 48,000 roles are seasonal, while others are permanent opportunities. The hiring event is set for September 23, 2021, across over 500 locations from 11 a.m. to 7 p.m. Competitive pay, flexible scheduling, and various bonuses are offered, including a $500 referral bonus. The company emphasizes growth opportunities, with many seasonal roles leading to permanent positions.
Macy’s (NYSE:M) has launched its fall fashion campaign, 'Trademark You,' encouraging shoppers to express their personal style through curated collections from well-known brands. The campaign highlights vibrant color trends, innovative home products from its new brand Oake, and a collaboration with five black fashion visionaries called Icons of Style. Macy’s also partners with Fanatics to enhance its sports merchandise offerings and promotes a new conscious beauty shopping experience. These initiatives aim to boost customer engagement and drive sales this season.
Funko, a leader in pop culture products, announces a collaboration with Macy’s and Lucasfilm to feature a Grogu-themed balloon in the 2021 Macy’s Thanksgiving Day Parade on November 25. This giant balloon, measuring 41-feet high and inspired by Funko's Pop! figure, aims to captivate fans of the Star Wars series. A limited-edition product line will be available for purchase on Funko.com, along with select items at Macy’s Herald Square, generating excitement around the parade and enhancing Funko's market presence.
Macy’s, Inc. (NYSE: M) is set to hold its 95th annual Thanksgiving Day Parade in New York City on November 25, 2021, returning to its traditional format after last year’s television-only event. The parade will feature giant character balloons, floats, marching bands, and celebrities, starting at 9:00 a.m. local time. Health and safety measures will be implemented, including mandatory vaccinations for participants and social distancing protocols. Specific public viewing details will be announced in November.
Macy's (NYSE:M) has partnered with WHP Global to revive the beloved Toys"R"Us brand, allowing customers to shop a wide selection of toys online at macys.com/toysrus and in over 400 Macy's stores starting in 2022. This collaboration aims to enhance Macy's toy offerings, capitalizing on a significant growth in the toy sector. The Toys"R"Us experience will feature age-specific sections and interactive elements in-store, while online shopping will cater to diverse interests and age groups.
Macy’s, Inc. (NYSE: M) reported strong second-quarter 2021 results, with diluted earnings per share reaching $1.08, exceeding expectations. The company raised its fiscal 2021 guidance, projecting net sales of $23.55B - $23.95B and adjusted EPS of $3.41 - $3.75. With $2.1 billion in cash, Macy's reinstated a quarterly dividend of 15 cents per share and authorized a $500 million share repurchase program. The Polaris strategy is yielding positive results, with comparable sales up 61.2% from 2020 and customer engagement improving significantly.
Macy’s today announced the redemption of $1.3 billion in its 8.375% Senior Secured Notes due 2025, set for August 17, 2021. This decision reflects the company's disciplined capital allocation and the resurgence in consumer demand. CFO Adrian Mitchell stated that this redemption enables Macy's to achieve its target leverage ratio and maintain an investment-grade profile by year-end. The company anticipates a pre-tax charge of approximately $185 million in Q3 due to the redemption, but will also realize annualized interest savings of $120 million. These factors are expected to bolster financial stability and shareholder returns.
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