Macy's Inc. news and archive

Macy's Inc. appoints Robert Chavez to its Board of Directors

Department store group Macy’s, Inc. has announced the appointment of Robert Chavez to its board of directors, effective as of April 1, 2025. “Bob will bring significant additional retail industry and leadership experience to our Board as we further our efforts to capture market share across our three nameplates,” said Tony Spring, chairman and...

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Management

Macy's banks on turnaround, ups earnings forecast

For the first quarter, Macy’s diluted earnings per share were 22 cents and adjusted diluted earnings per share were 27 cents compared to 56 cents in the same quarter of 2023. Net sales of 4.8 billion dollars were down 2.7 percent, comparable sales were down 1.2 percent on an owned basis and down 0.3 percent on an...

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Retail

Macy's expands small-format store strategy

American department store chain Macy’s has announced four new small-format stores scheduled to open by autumn in the Northeast and Western regions of the US as part of its ongoing expansion strategy to give customers curated selections in a “fresh space with a new vibe”. In 2020, Macy’s introduced the first iteration of its small-format stores...

Retail

Macy's announces plans to launch curated digital marketplace

Macy’s, Inc. has announced plans to launch a curated digital marketplace to expand the company’s omnichannel approach. The new marketplace will expand the company’s assortment in existing categories and brands and introduce a range of new categories, by enabling carefully selected third-party merchants to sell their products on macys.com and...

People

Macy's cuts chief operational officer role

In a C-suite shakeup, Macy’s Inc. has cut its chief operating officer role. The current chief operating officer John Harper will step down on August 1 with no replacement in line. His direct reports will now report to Jeff Jennette, Macy’s Inc. chairman and chief executive officer. Marla Beck, co-founder and CEO of Bluemercury, which is owned by...

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Management

Macy's begins refinancing

Macy's Inc, whose business moves will be closely watched as we are coming out of the coronavirus pandemic, has begun its refinancing procedures. The company has announced the offering of 1.1 billion dollars in secured notes that were set to maure in 2025. The company intends to use those notes along with cash on hand to repay the current...

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Report

Macy's Q3 revenues increase, updates full year guidance

American department store operator Macy's said on Wednesday its Q3 revenue for 2018 increased by 2.3 percent. Revising its guidance for the full year, Macy's now expects comparable sales on owned plus licensed basis to grow in the range of 2.3 percent to 2.5 percent, net sales growth between 0.3 percent to 0.7 percent and diluted EPS excluding...

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Report

Macy's Q2 revenues rise 1.1 percent

American department store operator Macy's said on Wednesday its Q2 revenue for 2018 increased 1.1 percent. Revenue for the first half period also rose 1.1 percent to 11.112 billion dollars. Hover over the graph to learn more. The company’s sales in Q2 2018 were 5,572 million US dollars, up from 5,636 million US dollars a year earlier. Net income...

Apparel

Macy's promotes Jeffrey Gennette to president

American department store Macy’s has promoted chief merchandising officer Jeffrey Gennette to president of the corporation, effective immediately. Gennette, a 31-year-veteran of Macy’s has been its chief merchant for the past five years, in his new role he will retain day-to-day responsibility for Macy's merchandising functions, as well as...