Macy's Inc. - M STOCK NEWS

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.

Macy’s (NYSE: M) will release its Q2 2021 sales and earnings results on August 19, 2021, before market opening. A conference call with financial analysts is scheduled for 8:00 a.m. ET that day, accessible via the company’s website: www.macysinc.com. The call-in number for analysts and investors is 1-800-458-4121, passcode 1495500. A replay will be available approximately two hours post-call. Macy’s operates three retail brands: Macy’s, Bloomingdale’s, and Bluemercury, offering omnichannel shopping.

Macy's, Inc. (NYSE: M) has appointed Maly Bernstein as the chief executive officer of Bluemercury, effective September 13, 2021. Bernstein, with extensive experience in beauty and e-commerce, will oversee the brand's growth strategy, reporting to Tony Spring, chairman and CEO of Bloomingdale's. She succeeds co-founder Marla Beck, who expanded Bluemercury from 60 to over 180 stores since 2015. Bernstein aims to enhance community connections through innovative platforms, continuing Bluemercury’s trajectory in the specialty beauty market.

Macy's (NYSE:M) has launched a new private brand called And Now This, featuring contemporary ready-to-wear and men's apparel. The line focuses on affordable, trend-forward essentials suitable for various occasions, available in sizes XS to XXL for women and S to XXL for men. Macy's aims to inspire customers to express their unique styles through versatile and elevated basics. The collection is now accessible online at macys.com and select stores. Launch events are scheduled in New York City, Chicago, and Fort Lauderdale.

Macy's (NYSE:M) is set to host the 45th Annual Macy’s 4th of July Fireworks in New York City on July 4th at 9:25 p.m. The event will feature over 65,000 fireworks launched from five barges on the East River, creating an extravagant display synchronized to a musical score, including performances by notable artists. The show aims to evoke a sense of optimism and patriotism among viewers. Public viewing will be available for fully vaccinated individuals at designated sites, while a national television broadcast of the event will air on NBC from 8-10 p.m. ET.

Macy's, Inc. (NYSE: M) announced that Adrian Mitchell, CFO, will participate in two upcoming fireside chats. The first is at the Evercore ISI Consumer and Retail Summit on June 15, 2021, at 8:00 a.m. ET, followed by the Jefferies Consumer Conference on June 22, 2021, also at 8:00 a.m. ET. Investors and media can access live audio webcasts of both events at www.macysinc.com/investors, with replays available post-event. Macy's operates multiple brands including Macy’s, Bloomingdale’s, and Bluemercury, providing a seamless shopping experience through various channels.

Macy’s, Inc. reported strong first-quarter results for 2021, exceeding sales expectations across its brands. Key drivers included government stimulus and an improved vaccine rollout, along with the execution of its Polaris strategy. The company raised its fiscal 2021 guidance, forecasting net sales between $21.73B - $22.23B and adjusted EPS of $1.71 - $2.12. Highlights include a 62.5% increase in comparable sales over 2020 and a digital sales growth of 34%. Gross margin improved to 38.6%, up from 17.1% in Q1 2020, reflecting enhanced inventory productivity.