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 Thanksgiving Day Parade, celebrating nearly 100 years, returns on November 26 as a reimagined television event to bring holiday magic home. The 94th edition will feature traditional elements like giant balloons and celebrity performances from pop to Broadway. This year, safety protocols will eliminate the typical parade route, showcasing the event over several days and emphasizing social distancing. Major artists and cultural performances will lift spirits during this challenging time, ensuring viewers enjoy a spectacular celebration from the comfort of their homes.
Macy’s, Inc. (NYSE: M) reported a challenging third quarter of 2020, with net sales at $3.99 billion, down from $5.17 billion in 2019. The company posted a net loss of $91 million, translating to a diluted loss per share of $(0.29). Despite these figures, digital sales surged by 27% compared to the previous year, accounting for 38% of total sales. Improved gross margins at 35.6% and a strong liquidity position with $1.6 billion in cash were notable highlights. However, comparable sales decreased by 21%, reflecting ongoing recovery efforts amid COVID-19 disruptions.
Macy’s, Inc. (NYSE:M) is set to release its third quarter 2020 sales and earnings on November 19, 2020, before the market opens. A live webcast will occur at 8:00 a.m. ET, accessible via the company's website. Interested parties can dial in at 1-888-394-8218, using passcode 9984154. Following the call, a replay will be available two hours later. Macy's reported fiscal 2019 sales of $24.6 billion and operates under three brands: Macy’s, Bloomingdale’s, and Bluemercury.
Macy's (NYSE:M) is launching an exclusive ready-to-wear collection, Culpos X INC International Concepts, designed by the Culpo sisters. This versatile collection features affordable, fashionable pieces suitable for various occasions, including loungewear and casual outings. The line incorporates decorative elements and bold prints, celebrating female confidence. The collaboration reflects the sisters' evolving personal styles and their fond memories associated with Macy's. The collection is available online and in select stores, showcasing INC's empowerment of modern women through fashion.
Macy’s (NYSE:M) has announced its Black Friday deals earlier than ever, providing customers with early access to discounts on various products. Starting November 4, shoppers can explore weekly curated deals online and in-store. The retailer emphasizes a safe shopping experience with enhanced health measures and flexible shopping options, including contactless curbside pickup and buy now, pay later options. Macy's stores will remain closed on Thanksgiving Day, with in-store shopping resuming on November 27.
Macy’s (NYSE:M) is enhancing the holiday shopping experience by offering a wide range of gifts for all budgets, including options under $15 to luxury items. Shoppers can easily navigate gift selections on macys.com/gifts, featuring categories for fashion, home, beauty, and toys. The company emphasizes convenient delivery methods and partnerships with Klarna and DoorDash for a seamless shopping experience. Macy's also supports the Make-A-Wish Foundation through its annual Believe campaign, with special gifts that give back. Enhanced safety measures are in place for in-store shopping.
Olay will debut its first float, Her Future is STEM-sational, at the Macy’s Thanksgiving Day Parade on November 26, 2020, to address the 24% representation of women in STEM fields. This initiative aligns with Olay's 10-year mission to double the number of women in STEM and triple multicultural representation. The float will visually represent STEM fields, featuring symbols of science, technology, engineering, and math. Olay aims to inspire women and girls to pursue STEM careers, reaching over 50 million viewers during the parade.
The Boss Baby, from DreamWorks Animation, will debut as a giant balloon in the 94th Annual Macy’s Thanksgiving Day Parade on November 26, 2020. This marks the character's first appearance at the parade, which attracts over 50 million viewers. The balloon is designed to be 32 feet long and 48 feet tall, embodying the character's business-savvy persona. The sequel, The Boss Baby: Family Business, is set for release on March 26, 2021, continuing the story of the Templeton brothers as they navigate the challenges of adulthood and family.
Macy’s, Inc. (NYSE:M) has appointed Adrian V. Mitchell as the new chief financial officer, effective November 2, 2020. Mitchell, who previously served at Boston Consulting Group, brings extensive retail financial experience crucial for Macy’s strategic transformation. He will oversee finance functions including accounting, treasury, and investor relations. Interim CFO Felicia Williams will transition to a fellow role in the CEO Action for Racial Equity initiative, focusing on diversity and social justice. This leadership change occurs amid a rapidly evolving retail landscape.
Macy’s (NYSE:M) is enhancing the holiday shopping experience with a diverse selection of gifts, flexible shipping options, and convenient services. Customers can benefit from contact-free curbside pickup, same-day delivery via DoorDash, and the option to pay later using Klarna. The press release highlights unique product offerings, including a sleep product line from Dr. Oz, beauty products from Clé de Peau, and a special dress designed by a Make-A-Wish child, with 20% of sales benefiting the charity. Macy’s also features a loyalty program and a user-friendly mobile app for a seamless shopping experience.
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