Macys Inc Stock Price, News & Analysis

Macy’s (NYSE: M) announced that Nata Dvir, the chief merchandising officer, will join a virtual fireside chat at the Jefferies Consumer Conference. The event is scheduled for 8:00 a.m. EDT on Monday, June 20, 2022. Interested parties can access the webcast via the investor relations section of Macy’s website at www.macysinc.com/investors. A recording will be available for 90 days post-event. Macy’s is known for quality brands and offers a seamless shopping experience through its e-commerce and retail presence.

The 46th Annual Macy's 4th of July Fireworks will take place on July 4th at 9:25 p.m., launching over 48,000 shells from five barges on the East River, creating a dazzling display visible from Manhattan, Queens, and Brooklyn. This year’s 25-minute show, synchronized to a diverse musical score curated by Ray Chew, features new effects and multiple colors, reaching heights of 1,000 feet. A national television broadcast will air on NBC, showcasing the event to audiences across the country. For the best views, spectators are encouraged to check official announcements at macys.com/fireworks.

Macy’s, Inc. (NYSE: M) reported strong financial results for Q1 2022, achieving a diluted EPS of $0.98 and an adjusted diluted EPS of $1.08, up from $0.32 and $0.39 the previous year. Comparable sales rose 12.8% on an owned basis, with digital sales increasing 2% year-over-year. The company repurchased $600 million of shares and reaffirmed its annual sales guidance while raising earnings expectations. Strong performance was noted in luxury goods and occasion-based apparel, underlining resilience amid macroeconomic pressures.

Macy’s (NYSE: M) has joined Better Cotton to enhance its sustainability initiatives, aiming for 100% preferred materials in its exclusive brands by 2030. As part of this effort, Macy's customers raised nearly $1.5 million for Trust for Public Land's Community Schoolyards™ projects, which aim to improve community resilience to climate change. Additional partnerships include HERproject™ for women's empowerment and the Give Back Box Clothing Recycling Program to reduce waste. Macy's emphasizes providing ethically produced and environmentally responsible products.

Macy’s (NYSE: M) will report its first quarter 2022 sales and earnings results on May 26, 2022, at 8:00 a.m. EDT. A conference call will follow, accessible to analysts and investors by calling 1-800-458-4121 with passcode 8403658. A replay will be available two hours post-call. The general public can join via a live webcast on www.macysinc.com, where the presentation will also be posted. Macy’s, headquartered in New York City, provides quality brands through various nameplates, including Bloomingdale’s and Bluemercury.

Kohl’s Corporation (KSS) experienced a significant drop in share price, declining over 9% in a single day, which translates to a loss of hundreds of millions in market capitalization. Macellum Advisors, holding nearly 5% of Kohl’s shares, expressed concerns that continued value destruction could affect ongoing sale negotiations and potential offers. They urged shareholders to consider voting for nominees from both management and Macellum at the upcoming Annual Meeting. Notably, the California State Teachers’ Retirement System publicly supported all of Macellum’s nominees.

Macy’s enhances its The Workshop program for underrepresented brands, committing $250,000 annually in business grants. The 2022 program features 25 new entrepreneurs and spans from April 25 to May 27, 2022. Participants benefit from new classes and a digital pop-up shop on macys.com from May 2 to 28. A Vendor Pitch Competition offers a chance to win a $100,000 grant. This initiative aims to foster growth in diverse retail businesses, furthering Macy's social purpose platform, Mission Every One.

Macy’s, Inc. (NYSE: M) is set to open a new 1.4 million-square-foot fulfillment center in China Grove, North Carolina, in 2024, aiming to enhance its omnichannel business capabilities. The facility will employ nearly 2,800 workers and represents a $584 million investment. Once operational, it will account for approximately 30% of Macy’s digital supply chain capacity, featuring advanced automation technology for increased productivity. This initiative is part of a broader strategy to bolster Macy’s digital sales growth and strengthen its position as a leading omnichannel retailer.