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) has announced a cash tender offer through its subsidiary, Macy's Retail Holdings, , to purchase up to $220 million of outstanding notes. The offer covers seven series of notes with varying interest rates and maturities. The tender offer prioritizes notes based on an acceptance priority level, with level 1 having the highest priority.
Key points:
- Early Tender Date: September 17, 2024, 5:00 p.m. ET
- Expiration Date: October 2, 2024, 5:00 p.m. ET
- Expected Early Settlement Date: September 19, 2024
- Expected Final Settlement Date: October 4, 2024
The offer includes an Early Tender Premium of $30 per $1,000 principal amount for notes tendered before the Early Tender Date. The company will also pay accrued and unpaid interest on accepted notes.
Macy's (NYSE: M) board of directors has declared a regular quarterly dividend of 17.37 cents per share on the company's common stock. The dividend is payable on October 1, 2024, to shareholders of record at the close of business on September 13, 2024. This announcement demonstrates Macy's commitment to returning value to its shareholders through consistent dividend payments.
Macy's (NYSE: M) has announced that Tony Spring, chairman and CEO, and Adrian Mitchell, COO and CFO, will participate in a fireside chat at the Goldman Sachs 31st Annual Global Retailing Conference. The event is scheduled for Thursday, September 5, 2024, at 8:15 a.m. EDT.
A live webcast of the fireside chat will be available on the investor relations section of the Macy's website at www.macysinc.com/investors. For those unable to attend or watch live, a recording of the webcast will be made available on the same website after the event concludes.
Macy's, Inc. (NYSE: M) reported second quarter 2024 results, with GAAP EPS and Adjusted Diluted EPS of $0.53, exceeding outlook. The company achieved a gross margin rate of 40.5%, better than expected. Net sales decreased 3.8% to $4.9 billion, with comparable sales down 4.0% on an owned basis. Notably, Macy's First 50 locations achieved a second consecutive quarter of positive comparable sales.
The company updated its 2024 guidance, projecting net sales between $22.1 billion to $22.4 billion, and reaffirming its Adjusted diluted EPS outlook of $2.55 - $2.90. Macy's continues to view 2024 as a transition and investment year, focusing on enhancing gross margin and exercising expense control while navigating ongoing macro headwinds.
Bloomingdale's launches From Italy, With Love, a two-month retail event starting September 5, 2024. This initiative brings the best of Italian fashion, design, cuisine, and culture to the U.S., featuring:
- Over 300 exclusive products from 150+ partners
- Introduction of 30+ new brands
- edition collaborations across apparel, fine jewelry, accessories, beauty, and home
- Partnership with Salone del Mobile.Milano for Italian design exhibition
- Exclusive U.S. collaborations like AC Milano x Off White and Rag & Bone x Lucali
- Il Mercato, a shoppable Italian marketplace at 59th Street flagship
- Immersive events, installations, and pop-ups throughout September and October
The campaign aims to create a unique celebration of Italian culture, offering customers an unparalleled shopping experience both in-store and online.
Rebag, a leading luxury resale platform, has announced a strategic partnership with Bloomingdale's to expand access to the luxury resale market. This collaboration aims to promote sustainability and circularity while offering a curated selection of over 2,500 designer handbags, watches, and fine jewelry online at Bloomingdales.com and over 500 items in five select Bloomingdale's stores nationwide.
The partnership includes custom-designed Rebag concessions in key Bloomingdale's stores, featuring pre-owned luxury items for purchase. Customers can also receive offers for select items they wish to sell, utilizing Rebag's proprietary AI tool, CLAIR. This collaboration bridges the gap between new and pre-owned luxury markets, focusing on ultra high-end pieces and integrating Rebag's buying and selling experience into Bloomingdale's customer journey.
Macy's, Inc. (NYSE: M) has announced that it will release its second quarter 2024 financial results on Wednesday, August 21, 2024. The company will host a conference call and webcast for financial analysts and investors at 8:00 a.m. EDT on the same day. Tony Spring, Chairman and CEO, and Adrian Mitchell, COO and CFO, will lead the call. The public and media can access the live webcast and presentation through Macy's website. Analysts and investors can participate by calling 1-877-407-0832. A replay will be available on the company's website or by calling 1-877-660-6853 with passcode 13747963 approximately two hours after the call concludes.
Macy's has relaunched its popular kids' clothing line, Epic Threads, as part of its Summer's Greatest Hits back-to-school campaign. The refreshed collection, now available in stores and online, offers playful and expressive clothing for children aged 2T to 20. Designed with input from young customers, Epic Threads features versatile and durable styles priced from $10 to $50.
The line includes over 200 pieces of clothing and accessories, focusing on mix-and-match options suitable for various activities. Macy's emphasizes the use of sustainable materials and easy-care fabrics. The relaunch is part of Macy's broader back-to-school offering, which includes both private brands and popular name brands, available through multiple shopping channels.
Macy's (NYSE: M) has terminated discussions with Arkhouse and Brigade regarding a potential acquisition. The Board unanimously decided that their revised proposal of $24.80 per share lacks certainty of financing and doesn't provide compelling value. Despite months of engagement and extensive due diligence, Arkhouse and Brigade failed to deliver a fully financed, actionable proposal by the agreed deadline.
The Board cited significant uncertainty in Arkhouse and Brigade's financing, conditional commitment letters, and the need for lengthy additional diligence as reasons for termination. Macy's will now focus on executing its 'A Bold New Chapter' strategy, which is showing early signs of success, particularly in its First 50 Macy's nameplate stores.
Macy’s is celebrating its Star Rewards loyalty members with the inaugural 'All-Star Week' event, running from July 16 to July 23. During this period, customers can enjoy thousands of summer deals and exclusive offers. Star Rewards members can earn extra rewards points, including 3x and 10x points on select categories and brands, and $20 in Star Money. The event also features daily online deals from top brands like Levi’s, Dolce & Gabbana, and Nespresso.
Members can join the Star Rewards program for free and start earning points on all purchases except gift cards, services, and fees. New Macy's cardholders can get an additional 30% off, up to $100, on their first two days of purchases. Macy’s Summer’s Greatest Hits campaign includes special events and sales throughout the season, focusing on summer trends and customer experiences.
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