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Macy's Inc (M)

M on New York Consolidated

21.17USD
20 Oct 2017
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Latest Key Developments (Source: Significant Developments)

Macy’s names Danielle kirgan as chief human resources officer
Tuesday, 17 Oct 2017 08:30am EDT 

Oct 17 (Reuters) - Macy's Inc :Danielle Kirgan named chief human resources officer of Macy's Inc.Macy's Inc - ‍ appointment of Danielle Kirgan as chief human resources officer, effective October 23, 2017​.  Full Article

Macy’s Inc expands same-day delivery service to cover 33 markets
Thursday, 31 Aug 2017 06:00am EDT 

Aug 31 (Reuters) - Macy's Inc :Macy’s Inc expands same-day delivery service to cover 33 markets.Macy's Inc - ‍expansion of its same-day delivery of products purchased online at macys.com, bloomingdales.com and both brands' mobile apps​.  Full Article

Macy's names Hal Lawton president
Monday, 21 Aug 2017 04:55pm EDT 

Aug 21 (Reuters) - Macy's Inc :Hal Lawton named President of Macy’s.Macy's Inc - ‍Restructuring includes consolidation of three functions - Merchandising, Planning and private brands​.‍Company also announced restructuring of its merchandising operations​.Macy's Inc says company anticipates it will save approximately $30 million on an annual basis from restructuring.Macy's Inc says anticipates one-time costs of approximately $20 - $25 million associated with restructuring, to be booked primarily in Q3 of 2017.‍Company expects that the restructuring actions will result in a headcount reduction of approximately 100​.Macy's-Consolidation of 3 functions into one merchandising function to be led by Jeff Kantor, organized around 5 'Families-of-business'​.Macy's- Sees savings due to restructuring of about $5 million or about 1 cent/share in Q4 2017, which is additive to previously provided earnings guidance​.Macy's Inc - ‍ Lawton was most recently senior vice president, eBay North America​.  Full Article

Macy's Q2 same store sales fell 2.8 percent
Thursday, 10 Aug 2017 08:00am EDT 

Aug 10 (Reuters) - Macy's Inc ::Macy's Inc reports second quarter earnings and reaffirms full-year guidance.Q2 earnings per share $0.48 excluding items.Q2 sales $5.552 billion versus I/B/E/S view $5.52 billion.Q2 same store sales fell 2.8 percent.Q2 earnings per share view $0.46 -- Thomson Reuters I/B/E/S.Q2 earnings per share $0.38.‍reaffirmed its sales and earnings guidance for full-year 2017​.MACY'S INC - ‍comparable sales on an owned basis were down 2.8 percent in Q2 and down 2.5 percent on an owned plus licensed basis​.‍"Will adapt our business in order to reach our goal of stabilizing brick-and-mortar business​".Macy's - ‍launch of a new loyalty program and new marketing strategy in fall, which co anticipates will further improve sales trend in back half of year​.FY earnings per share view $3.29, revenue view $24.67 billion -- Thomson Reuters I/B/E/S.Macy's - ‍will "adapt" business to reach goal of stabilizing brick-and-mortar business while "investing for accelerated growth in digital and mobile"​.  Full Article

Macy's CFO warns gross margin could be below forecast given in February, 60-80 basis points below last year - CNBC reporter tweet
Tuesday, 6 Jun 2017 10:42am EDT 

June 6 (Reuters) - :Macy's CFO warns gross margin could be below forecast given in february, 60-80 basis points below last year - CNBC reporter tweet.Macy's CFO says the company is still comfortable (ie not changing) the sales and profit guidance given in February - CNBC reporter tweet.  Full Article

Macy's CFO - Expect improvement in trend to start in Q2
Thursday, 11 May 2017 11:34am EDT 

May 11 (Reuters) - Macy's Inc :CFO on conf call- international tourists sales declined at about the same rate as Q1 comp sales.CFO - weaker businesses in Q1 included handbags, fashion jewelry and watches, housewares.CFO - have 26 backstage stores open within macy's stores and are adding 19 more this year.CFO - Q1 gross margin decline was due to ending 2016 with inventory higher than anticipated, weak february sales and margin pressures in a few businesses.CFO - gross margin declines in beauty business due to increased promotional activity.CFO - making good progress in selling off properties that were previously closed.CFO - there is a dedicated Brookfield team working with our team on feasibility analysis and redevelopment activities related to about 50 real estate assets.CFO - had expected Q1 to be weakest quarter of year, benefits from closed stores were not expected to help until going-out-of-business sales were completed until late march.CFO - expect improvement in trend to start in q2.CFO - adding or expanding furniture and mattresses in approximately 60 stores.CFO - "we've concluded that our current model is too heavily weighted to promotional marketing".CFO - strategizing to improve our 'buy online pickup in store' experience.CEO- working on bringing additional traffic into stores in close partnership with our mall developers.  Full Article

Macy's reports Q1 adjusted earnings per share $0.24
Thursday, 11 May 2017 08:00am EDT 

May 11 (Reuters) - Macy's Inc -:Macy’s Inc reports first quarter earnings.Q1 earnings per share $0.24 excluding items.Q1 sales $5.338 billion versus i/b/e/s view $5.47 billion.Q1 earnings per share view $0.35 -- Thomson Reuters I/B/E/S.Q1 same store sales fell 5.2 percent.Macy's Inc - remain on track to meet our 2017 guidance.Macy's Inc - macy's, inc. Affirms its previously provided guidance for full-year 2017.Macy's Inc - comparable sales on an owned basis were down 5.2 percent in q1 and down 4.6 percent on an owned plus licensed basis.Macy's Inc - Macy's Inc board of directors has declared a regular quarterly dividend of 37.75 cents per share on macy's common stock.Macy's Inc - is also under contract to sell two additional floors of its downtown seattle store after having sold floors five through eight in 2015.Macy's Inc - "in 2017, we are focused on taking actions to stabilize our brick and mortar business".Fy2017 revenue view $25.89 billion -- Thomson Reuters I/B/E/S.Fy2017 earnings per share view $3.05 -- Thomson Reuters I/B/E/S.Macy's Inc - "we will invest to aggressively grow our digital and mobile business".  Full Article

Macy’s, Tailored Brands to wind down partnership on Tuxedo shops
Wednesday, 3 May 2017 04:15pm EDT 

May 3 (Reuters) - Macy's Inc :Macy's Inc- company , Tailored Brands announced their joint plan to wind down operations under Tuxedo rental license agreement.Macy’s, Inc. and Tailored Brands to wind down partnership.Macy's Inc - Tuxedo shops at Macy's will continue to take new reservations until June 1, 2017, with operations winding down by July 14, 2017.  Full Article

Macy's and G-III sign exclusive agreement for DKNY women's apparel and accessories
Monday, 27 Mar 2017 04:00am EDT 

Macy's Inc : Macy's and G-III sign exclusive agreement for DKNY Women's apparel and accessories . under agreement, Macy's will covers DKNY Women's apparel, handbags and shoes, in addition to women's and men's outerwear and swimwear .G-III will continue to operate freestanding global DKNY stores and DKNY.com.  Full Article

Macy's board elects Jeff Gennette chief executive officer
Thursday, 23 Mar 2017 04:32pm EDT 

Macy's Inc - : Macy's, Inc. board of directors elects Jeff Gennette chief executive officer .Gennette succeeds Terry J. Lundgren, who will continue as executive chairman.  Full Article

BRIEF-Macy’s names Danielle kirgan as chief human resources officer

* Danielle Kirgan named chief human resources officer of Macy's Inc