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About Macy's, Inc.

One of America's largest fashion retailers and department stores, Macy's operates about 775 stores across some 45 US states and Washington, DC, as well as Guam and Puerto Rico. Its three banners -- Macy's, bluemercury, and Bloomingdale's (and accompanying e-commerce sites) -- sell men's, women's, and children's apparel and accessories, cosmetics, and home furnishings, among other merchandise. Women's apparel and accessories account for about 60% of total sales. Macy's historic flagship store in Manhattan's Herald Square has held the title of world's largest department store since 1924. The Macy's Thanksgiving Day Parade, started in 1924, is an annual rite.

Operations

Main chain Macy's and Bloomingdale's, its up-scale subsidiary, are American retail institutions having run department stores since 1830. Both chains have online incarnations (macys.com, bloomingdales.com). The company also owns and is growing luxury beauty and spa products retailer bluemercury. It has nearly 615 Macy's stores, some 170 bluemercury stores, and about 55 Bloomingdale's stores.

Women's accessories, intimate apparel, shoes, cosmetics and fragrances account for nearly 40% of group revenue, followed by men's and kids' apparel at nearly 25%; women's apparel brings in more than 20% and home/miscellaneous products generate the rest. In addition to national brands the company offers a host of private label brands such as American Rag, Club Room, Epic Threads, first impressions, Hudson Park, Martha Stewart Collection, Material Girl, the cellar, and Tools of the Trade.

Macy's also operates a bank subsidiary, FDS Bank, which provides credit processing, certain collections, customer service and credit marketing services.

Geographic Reach

Macy's flagship stores include Herald Square in New York City, Union Square in San Francisco, State Street in Chicago, Dadeland in Miami, and South Coast Plaza in southern California.

The company also operates in United Arab Emirates and Kuwait through joint venture and licensing agreements.

Sales and Marketing

Macy's spends heavily across multiple media, including print, television, direct mail, and more, to drive traffic to its stores and websites. The company spent $1,142 billion, $1,162 billion, and $1,108 billion on advertising and promotion in FY 2019, 2018, and 2017, respectively.

Financial Performance

Net sales for 2019 were $24.6 billion, a decrease of $411 million, or 2%, from 2018. Digital sales continued to be strong in 2019, with digital sales as a percent of net sales increasing to 26% from 23% in 2018. By family of business, destination businesses including dresses, fine jewelry, fragrances, men's tailored clothing, women's shoes and mattresses performed well during 2019. Sales in 2019 were also strong in active apparel and kids. Sales in 2019 were weak in women's sportswear, handbags, color cosmetics and fashion watches. Sales of Macy's-branded private label brands represented nearly 20% of net sales in the Macy's-branded operations in both 2019 and 2018.

Net income attributable to Macy's, Inc. shareholders for 2019 was $564 million, a decrease of $544 million from $1.1 billion in 2018.

Cash at the end of fiscal 2019 was $731 million, a decrease of $517 million from the prior year. Cash from operations contributed $1.6 billion to the coffers, while investing activities used $1 billion, mainly for capital expenditures. Financing activities used another $1.1 billion for repaid debt and dividends.

Strategy

Continuing with its 3-year plan introduced in 2017, Macy's continued the implementation of its North Star strategy to transform its omnichannel business and focus on key growth areas, embrace customer centricity, and optimize value in its real estate portfolio. The key components to this strategy were:

From Familiar to Favorite included everything the company does to further its brand awareness and identity to its core customers; It Must Be Macy's encompassed delivering the products and experiences customers love and are exclusive to the company; Every Experience Matters, in-store and online leveraged the company's competitive advantage in combining the human touch in its physical stores with cutting-edge technology in its mobile applications and websites; Funding its Future represented the decisions and actions the company took to identify and realize resources to fuel growth; What's New, What's Next explored and developed innovation ideas to turn consumer and technology trends to the company's advantage and to drive growth.

In 2019, Macy's expanded the growth treatment to an additional 100 locations, from the original 50 locations in 2018. The Growth150 locations (a mix of stores where the Company accelerated a number of successful store initiatives, such as facility upgrades, merchandising strategies, and localized marketing) contributed to the operating results for 2019, with sales results outperforming the other Macy's store locations.

Company Background

Macy's traces its history to 1858 New York City, where Rowland H. Macy opened dry goods store R.H. Macy & Co.

Macy's, Inc.

151 W 34th St
New York, NY 10001-2101
Phone: 1 (212) 494-1602

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: M
Stock Exchange: , NYSE
CEO: Jeffrey Gennette
President: Harry A. Lawton
Chairman: Terry J. Lundgren
Employees (This Location): 650
Employees (All Locations): 123,000

Major Office Locations

New York, NY

Other Locations

Hoover, AL
Mountain Brk, AL
Goodyear, AZ
Phoenix, AZ
Scottsdale, AZ
Tempe, AZ
Tucson, AZ
Artesia, CA
Carlsbad, CA
Citrus Heights, CA
Corte Madera, CA
Costa Mesa, CA
Culver City, CA
El Segundo, CA
Hayward, CA
Irvine, CA
La Jolla, CA
Los Angeles, CA
Los Gatos, CA
Montclair, CA
Newport Beach, CA
Palo Alto, CA
Sacramento, CA
San Bernardino, CA
San Diego, CA
San Francisco, CA
San Jose, CA
Santa Monica, CA
Sherman Oaks, CA
Studio City, CA
Thousand Oaks, CA
Victorville, CA
Denver, CO
Cheshire, CT
Danbury, CT
Darien, CT
Farmington, CT
Manchester, CT
Meriden, CT
Milford, CT
New Haven, CT
South Windsor, CT
Stamford, CT
Trumbull, CT
Waterbury, CT
Waterford, CT
West Hartford, CT
Westport, CT
Washington, DC
Dover, DE
Wilmington, DE
Altamonte Springs, FL
Boca Raton, FL
Boynton Beach, FL
Bradenton, FL
Brandon, FL
Clearwater, FL
Coral Gables, FL
Coral Springs, FL
Cutler Bay, FL
Daytona Beach, FL
Doral, FL
Fort Lauderdale, FL
Fort Myers, FL
Hialeah, FL
Jacksonville, FL
Jensen Beach, FL
Lakeland, FL
Merritt Island, FL
Miami, FL
Miami Beach, FL
Naples, FL
North Miami Beach, FL
Ocala, FL
Orlando, FL
Palm Beach Gardens, FL
Pembroke Pines, FL
Plantation, FL
Pompano Beach, FL
Ponte Vedra Beach, FL
Port Charlotte, FL
Port Richey, FL
Saint Petersburg, FL
Sanford, FL
Sarasota, FL
Tallahassee, FL
Tampa, FL
West Palm Beach, FL
Alpharetta, GA
Atlanta, GA
Augusta, GA
Brookhaven, GA
Buford, GA
Columbus, GA
Decatur, GA
Duluth, GA
Kennesaw, GA
Lithonia, GA
Macon, GA
Morrow, GA
Peachtree Corners, GA
Savannah, GA
Stone Mountain, GA
Suwanee, GA
Honolulu, HI
Kahului, HI
Aurora, IL
Bolingbrook, IL
Calumet City, IL
Carbondale, IL
Champaign, IL
Chicago, IL
Fairview Heights, IL
Gurnee, IL
Highland Park, IL
Hinsdale, IL
Joliet, IL
Lake Forest, IL
Minooka, IL
Northbrook, IL
Oak Brook, IL
Orland Park, IL
Rockford, IL
Rosemont, IL
Schaumburg, IL
Skokie, IL
Springfield, IL
Vernon Hills, IL
West Dundee, IL
Bloomington, IN
Evansville, IN
Fort Wayne, IN
Greenwood, IN
Indianapolis, IN
Lafayette, IN
Merrillville, IN
Mishawaka, IN
Muncie, IN
Terre Haute, IN
Prairie Village, KS
Shawnee Mission, KS
Florence, KY
Lexington, KY
Louisville, KY
Baton Rouge, LA
Lafayette, LA
New Orleans, LA
Auburn, MA
Boston, MA
Braintree, MA
Burlington, MA
Cambridge, MA
Chestnut Hill, MA
Dedham, MA
Framingham, MA
Hanover, MA
Hingham, MA
Holyoke, MA
Hyannis, MA
Kingston, MA
Leominster, MA
Lynnfield, MA
Marlborough, MA
Natick, MA
North Attleboro, MA
North Dartmouth, MA
Peabody, MA
Saugus, MA
Swansea, MA
Wellesley, MA
Annapolis, MD
Baltimore, MD
Bel Air, MD
Bethesda, MD
Bowie, MD
Chevy Chase, MD
Columbia, MD
Frederick, MD
Gaithersburg, MD
Glen Burnie, MD
Hyattsville, MD
Joppa, MD
Marlow Heights, MD
Salisbury, MD
Waldorf, MD
Wheaton, MD
South Portland, ME
Ann Arbor, MI
Birmingham, MI
Dearborn, MI
Flint, MI
Fort Gratiot, MI
Grand Rapids, MI
Grandville, MI
Novi, MI
Okemos, MI
Saginaw, MI
Southfield, MI
Sterling Heights, MI
Taylor, MI
Traverse City, MI
Troy, MI
Burnsville, MN
Edina, MN
Hopkins, MN
Minneapolis, MN
Rochester, MN
Saint Cloud, MN
Saint Paul, MN
Watertown, MN
Bridgeton, MO
Cape Girardeau, MO
Chesterfield, MO
Independence, MO
Kansas City, MO
Lees Summit, MO
Saint Louis, MO
Saint Peters, MO
Springfield, MO
Picayune, MS
Charlotte, NC
Durham, NC
Fayetteville, NC
Greensboro, NC
Raleigh, NC
Winston Salem, NC
Fargo, ND
Manchester, NH
Merrimack, NH
Nashua, NH
Newington, NH
Salem, NH
Avenel, NJ
Bridgewater, NJ
Burlington, NJ
Carlstadt, NJ
Cherry Hill, NJ
Closter, NJ
Denville, NJ
Deptford, NJ
East Brunswick, NJ
Eatontown, NJ
Edison, NJ
Freehold, NJ
Hackensack, NJ
Jersey City, NJ
Marlton, NJ
Mays Landing, NJ
Moonachie, NJ
Morristown, NJ
North Brunswick, NJ
Paramus, NJ
Princeton, NJ
Ridgewood, NJ
Rockaway, NJ
Secaucus, NJ
Short Hills, NJ
Shrewsbury, NJ
Springfield, NJ
Summit, NJ
Toms River, NJ
Wayne, NJ
Westfield, NJ
Woodbridge, NJ
Woodcliff Lake, NJ
Albuquerque, NM
Albany, NY
Amherst, NY
Bay Shore, NY
Bronx, NY
Brooklyn, NY
Carle Place, NY
Cheektowaga, NY
Commack, NY
East Hampton, NY
Elmhurst, NY
Flushing, NY
Garden City, NY
Greenvale, NY
Hampton Bays, NY
Hawthorne, NY
Hicksville, NY
Huntington Station, NY
Lake Grove, NY
Long Island City, NY
Manhasset, NY
Massapequa, NY
Nanuet, NY
New Hartford, NY
New York, NY
Poughkeepsie, NY
Rochester, NY
Rye, NY
Staten Island, NY
Syracuse, NY
Victor, NY
White Plains, NY
Woodbury, NY
Yonkers, NY
Yorktown Heights, NY
Akron, OH
Alpharetta, OH
Arcadia, OH
Barrington, OH
Beavercreek, OH
Bethesda, OH
Boca Raton, OH
Boston, OH
Bryn Mawr, OH
Burlingame, OH
Campbell, OH
Canton, OH
Chicago, OH
Cincinnati, OH
Cleveland, OH
Columbus, OH
Dayton, OH
Dublin, OH
Edina, OH
Fairfax, OH
Fairlawn, OH
Fort Worth, OH
Glastonbury, OH
Greenwich, OH
Houston, OH
Irvine, OH
Johns Island, OH
Las Vegas, OH
Leawood, OH
Lima, OH
Los Altos, OH
Los Angeles, OH
Maineville, OH
Mansfield, OH
Mc Lean, OH
Mentor, OH
Miami Beach, OH
Moraine, OH
Naperville, OH
Newport Beach, OH
New York, OH
Niles, OH
North Olmsted, OH
Oak Brook, OH
Palm Beach, OH
Palo Alto, OH
Portland, OH
Rancho Cucamonga, OH
Redwood City, OH
Reston, OH
Rockville, OH
Roseville, OH
Saint Clairsville, OH
San Antonio, OH
San Francisco, OH
San Jose, OH
Santa Clara, OH
Sarasota, OH
Seattle, OH
Sharonville, OH
Southampton, OH
Springfield, OH
Stow, OH
Toledo, OH
Torrance, OH
West Chester, OH
West Hollywood, OH
Westport, OH
Winter Park, OH
Youngstown, OH
Oklahoma City, OK
Tulsa, OK
Eugene, OR
Portland, OR
Altoona, PA
Ardmore, PA
Camp Hill, PA
Erie, PA
Exton, PA
Greensburg, PA
Homestead, PA
King Of Prussia, PA
Langhorne, PA
Monroeville, PA
Newtown, PA
North Wales, PA
Philadelphia, PA
Pittsburgh, PA
Radnor, PA
Scranton, PA
Springfield, PA
State College, PA
Tarentum, PA
Whitehall, PA
Wilkes Barre, PA
Willow Grove, PA
Providence, RI
Warwick, RI
Charleston, SC
Columbia, SC
Greenville, SC
Sioux Falls, SD
Bartlett, TN
Collierville, TN
Franklin, TN
Goodlettsville, TN
Jackson, TN
Memphis, TN
Nashville, TN
Portland, TN
Arlington, TX
Austin, TX
Baytown, TX
Cedar Park, TX
College Station, TX
Corpus Christi, TX
Dallas, TX
Denton, TX
Fort Worth, TX
Friendswood, TX
Frisco, TX
Garland, TX
Grand Prairie, TX
Houston, TX
Hurst, TX
Irving, TX
Laredo, TX
Lewisville, TX
Mcallen, TX
Mesquite, TX
Pearland, TX
Plano, TX
San Antonio, TX
Southlake, TX
Sugar Land, TX
The Woodlands, TX
Alexandria, VA
Arlington, VA
Charlottesville, VA
Chesapeake, VA
Colonial Heights, VA
Fairfax, VA
Fredericksburg, VA
Manassas, VA
Mc Lean, VA
Newport News, VA
North Chesterfield, VA
Richmond, VA
Roanoke, VA
Springfield, VA
Sterling, VA
Virginia Beach, VA
Woodbridge, VA
Burlington, VT
Bellevue, WA
Kennewick, WA
Tukwila, WA
Appleton, WI
Greendale, WI
Madison, WI
Milwaukee, WI
Barboursville, WV
Charleston, WV
Singapore, Singapore