Full Description

Macy's, Inc. (Macy's) is a retail company that operates retail stores and Internet Websites under two brands, Macy’s and Bloomingdale’s, which sell a range of merchandise, including men’s, women’s and children’s apparel and accessories, cosmetics, home furnishings and other consumer goods in 45 states, the District of Columbia, Guam and Puerto Rico. As of January 31, 2009, the Company’s operations were conducted through seven operating divisions: four geographic Macy’s divisions, macys.com, Bloomingdale’s, and bloomingdales.com, which are aggregated into one segment. As of January 31, 2009, the Company operated 847 retail stores in 45 states, the District of Columbia, Puerto Rico and Guam, comprising a total of approximately 154,300,000 square feet. Of such stores, 466 were owned, 263 were leased and 118 stores were operated under arrangements, where the Company owned the building and leased the land. Most stores of the Company’s are located at urban or suburban sites across the United States.

The Company provides various support functions to its retail operating divisions on an integrated, Company-wide basis. The Company’s subsidiary, FDS Bank, and its financial, administrative and credit services subsidiary, Macy’s Credit and Customer Service, Inc. (MCCS), provide credit processing, certain collections, customer service and credit marketing services in respect of all its own and non-proprietary credit card accounts that are owned either by Department Stores National Bank (DSNB), a subsidiary of Citibank, N.A., or FDS Bank and that constitute a part of the credit programs of the Company’s retail operations. In addition, MCCS provides payroll and benefits services to all of the Company’s operations.

Macy’s Systems and Technology, Inc. (MST), a wholly owned indirect subsidiary of the Company, provides operational electronic data processing and management information services to all of the Company’s operations. Macy’s Merchandising Group, Inc. (MMG), a wholly owned direct subsidiary of Macy's, is responsible for all of the private-label development for the Company’s Macy’s branded operations. Bloomingdale’s uses MMG for only a small portion of its private-label merchandise. Macy’s Logistics and Operations (Macy’s Logistics), a division of a wholly owned indirect subsidiary of the Company, provides warehousing and merchandise distribution services, store design and construction services and certain supply purchasing services for the Company’s operations.

Macy’s Home Store, LLC, a wholly owned indirect subsidiary of the Company, was responsible for merchandising and marketing of home-related merchandise categories in all of the Company’s Macy’s stores during the fiscal year ended January 31, 2009 (fiscal 2008). During fiscal 2008, Macy’s Corporate Marketing, a division of a wholly owned subsidiary of the Company, was responsible for the development of sales promotion programs for the all of the Company’s Macy’s stores and for managing national public relations and annual events, credit marketing and cause-related marketing initiatives for the Macy’s stores. MCCS and MMG also offer their services, either directly or indirectly, to unrelated third parties.

The Company competes with Bed Bath & Beyond, Belk, Bon Ton, Burlington Coat Factory, Dillard’s, Gap, Gottschalk, J.C. Penney, Kohl’s, Limited, Lord & Taylor, Neiman Marcus, Nordstrom, Saks, Sears, Stage Stores, Target, TJ Maxx and Wal-Mart.