Welcome to our dedicated page for Macys news (Ticker: M), a resource for investors and traders seeking the latest updates and insights on Macys stock.
Macy's Inc (NYSE: M) remains a cornerstone of American retail with its iconic department stores and evolving digital strategy. This news hub provides investors with centralized access to official announcements, financial disclosures, and market analyses related to the company's operations across its Macy's, Bloomingdale's, and Bluemercury brands.
Our curated collection enables efficient tracking of quarterly earnings reports, strategic partnerships, and leadership developments that impact Macy's market position. Users will find timely updates on store optimization initiatives, e-commerce enhancements, and brand collaborations that drive the company's multi-channel retail approach.
The repository includes verified press releases covering financial results, merchandising innovations, and corporate governance updates. For comprehensive market understanding, we aggregate coverage of Macy's responses to retail industry trends and consumer behavior shifts.
Bookmark this page for direct access to unfiltered operational updates from one of retail's most historic brands. Check regularly for new developments affecting Macy's competitive positioning in the evolving department store sector.
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.
Macy's, Inc. (NYSE: M) announced the appointment of Keith Credendino as Chief Information Officer, effective August 4, 2024. Credendino, currently Senior Vice President of Technology Product Development, will succeed Laura Miller, who retires on August 3, 2024. Miller has modernized Macy's technology systems and operations since joining in 2021. Credendino's role will focus on simplifying and modernizing Macy's technology stack as part of the company's growth strategy, ‘A Bold New Chapter.’ He has previously enhanced customer experience and technology infrastructure at Macy's and Bloomingdale's. Credendino holds a BBA in Management Information Systems from the University of Georgia and an MBA from Georgia State University.
Celebrity chef Guy Fieri has introduced his new Flavortown Laser Titanium cookware line, exclusively at Macy’s. This innovative collection features non-stick, chemical-free cooking surfaces, crafted without potentially harmful coatings like PFAS, PTFE, and PFOA. The cookware range includes various pieces such as skillets, sauté pans, stock pots, saucepans, griddles, and woks, with prices between $39.99-$299.99. The collection is available on Macys.com, Macy’s mobile app, and in over 300 Macy’s stores nationwide. Featuring a patented technology, the cookware is three times harder than stainless steel and oven safe up to 500 degrees. The product launch is part of Macy’s Summer’s Greatest Hits campaign.
Macy's is gearing up for its 48th annual 4th of July Fireworks, America's largest Independence Day celebration. The event will feature over 60,000 shells in more than 30 colors and new effects, illuminating the Hudson River from five barges between W. 14th St. and W. 34th St. in Manhattan. Scheduled for July 4th at 9:25 p.m., the spectacle will be broadcast live on NBC and Peacock, with an encore at 10 p.m. ET/PT. Musical performances by Tanner Adell, Brandy Clark, Luis Fonsi, Mickey Guyton, Amber Mark, The War And Treaty, and Lainey Wilson will precede the fireworks. The show will introduce a unique silver cascading firework effect. Public viewing spots are available along the Hudson River in New York and New Jersey. For more details, visit macys.com/fireworks and follow @macys #MacysFireworks.
