Macys Inc Stock Price, News & Analysis

Bloomingdale's launches its annual Pink Campaign for Breast Cancer Awareness Month, featuring a new AQUA x Kerri Rosenthal collection. The campaign benefits the Breast Cancer Research Foundation (BCRF) and The Tutu Project, with Bloomingdale's having raised over $18 million in 19 years. The 50-piece collection includes women's and girl's ready-to-wear, sleep, home, and accessories.

Bloomingdale's will donate $25,000 to BCRF and host events throughout October, including fashion shows and panels. The Give Pink, Get More initiative allows cardholders to earn rewards while supporting breast cancer research. The campaign also features PINK Yoga & Pilates classes at select locations to support BCRF and The Tutu Project.

Macy's and Toys"R"Us® have unveiled Geoffrey's Hot Toy List for the 2024 holiday season, featuring 150 of the most coveted toys from popular brands like Barbie®, Pokémon, LEGO®, and more. The list includes exclusive items such as the Geoffrey with a Christmas Tree FUNKO and toys from Toys"R"Us' own brands. Macy's is expanding its exclusive offerings with the Geoffrey's Toy Box Pre-School line and Journey Girls dolls.

To enhance the shopping experience, Macy's will introduce Toy Champions at over 330 Toys"R"Us locations. The Hot Toy List will come to life with in-store experiences starting September 28th, allowing customers to play with and discover new toys. Geoffrey's birthday celebrations will be held in October with events and giveaways at select stores nationwide.

Macy's, Inc. (NYSE: M) has announced plans to hire over 31,500 seasonal positions for the upcoming holiday season across its Macy's, Bloomingdale's, and Bluemercury stores and distribution centers. The company is offering an efficient online application process and will hold four nationwide in-person holiday hiring events. Key hiring dates are September 26, October 24, November 21, and December 4.

Seasonal positions are available nationwide, with greater opportunities in specific markets for each brand. Macy's, Inc. emphasizes its culture of trusting relationships, colleague development, and comprehensive total rewards package. Benefits include employee discounts, earned wage access, an Employee Assistance Program, and the North Star Relief Fund for colleagues facing hardships.

Macy's, Inc. (NYSE:M) announced the early tender results of its cash tender offer for up to $220 million of various senior notes and debentures. The offer, conducted by its subsidiary Macy's Retail Holdings, , received significant participation across multiple series of notes. Key points include:

- The 6.79% Senior Debentures due 2027, 7.00% Senior Debentures due 2028, 6.70% Senior Exchanged Debentures due 2028, 6.70% Senior Debentures due 2028, and 6.90% Senior Debentures due 2029 were fully accepted.

- $173,646,000 of the 5.875% Senior Notes due 2029 were accepted with a 59.5% proration factor.

- No notes tendered after the Early Tender Date will be accepted due to oversubscription.

The early settlement date is set for September 19, 2024. Macy's will use cash on hand to fund the purchase and related expenses.

Macy's has launched Mode of One, a new contemporary menswear brand designed to celebrate individuality and style expression. The collection, now available on Macys.com, the Macy's mobile app, and in stores nationwide, features high-quality essentials and statement-making designs with a focus on fit and proportions.

The brand is part of Macy's ongoing private brands reimagination, developed over two years with extensive research on men's trends and style preferences. Mode of One offers multiple fits and silhouettes, catering to various occasions and bold style preferences. The inaugural collection features over 140 SKUs, priced from $24.50 to $159.50, with sizes ranging from S-XXL and 30-40.

New York Knicks stars Jalen Brunson and Josh Hart lead as brand ambassadors, alongside other influencers in a social-first campaign. New monthly drops will be available starting in October and throughout the holiday season.

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.