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Macy's Inc (M)

M on New York Consolidated

25.89USD
11 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Macy’s Announces Pricing Of Debt Tender Offer
1:23pm EST 

Dec 11 (Reuters) - Macy's Inc ::MACY’S, INC. ANNOUNCES PRICING OF DEBT TENDER OFFER.MACY'S INC - ‍PRICING TERMS OF TENDER OFFER OF CO'S UNIT TO PURCHASE UP TO $400 MILLION IN AGGREGATE PRINCIPAL AMOUNT OF OUTSTANDING DEBT SECURITIES.MACY'S INC - AS A RESULT OF THE TENDER OFFER, CO EXPECTS TO RECORD A ONE-TIME PRE-TAX GAIN OF ABOUT $13 MILLION IN FOURTH FISCAL QUARTER OF 2017.MACY'S INC - TENDER OFFER OF ITS UNIT IS SCHEDULED TO EXPIRE AT 11:59 P.M., NEW YORK CITY TIME, ON DEC. 22, 2017.MACY'S INC - ‍BY COMPLETING TENDER OFFER, MACY'S INTEREST EXPENSE IS ANTICIPATED TO BE REDUCED ON A FULL YEAR BASIS BY APPROXIMATELY $26 MILLION​.  Full Article

Macy's Executive Chairman Terry Lundgren To Retire
Friday, 8 Dec 2017 04:30pm EST 

Dec 8 (Reuters) - Macy's Inc ::MACY’S EXECUTIVE CHAIRMAN TERRY LUNDGREN TO RETIRE.- JEFF GENNETTE APPOINTED CHAIRMAN.SAYS JEFF GENNETTE APPOINTED CHAIRMAN OF THE BOARD.- EXECUTIVE CHAIRMAN TERRY LUNDGREN WILL RETIRE FROM BOARD OF DIRECTORS EFFECTIVE JAN. 31, 2018.- MARNA WHITTINGTON REMAINS LEAD INDEPENDENT DIRECTOR.- FOLLOWING LUNDGREN'S RETIREMENT, BOARD WILL HAVE 10 DIRECTORS.  Full Article

Macy’s Inc Announces Debt Tender Offer
Monday, 27 Nov 2017 04:02pm EST 

Nov 27 (Reuters) - Macy's Inc ::MACY’S, INC. ANNOUNCES DEBT TENDER OFFER.MACY'S INC - UNIT COMMENCED A CASH TENDER OFFER TO PURCHASE UP TO $400 MILLION IN AGGREGATE PRINCIPAL AMOUNT OF ITS OUTSTANDING NOTES​.MACY'S INC - ‍TENDER OFFER WILL EXPIRE ON DECEMBER 22 UNLESS EXTENDED​.  Full Article

Macy's Inc Q3 EPS $0.23 excluding items
Thursday, 9 Nov 2017 08:00am EST 

Nov 9 (Reuters) - Macy's Inc ::Macy's, Inc. reports third quarter 2017 earnings above prior year and re-affirms full-year guidance.Sees fy 2017 adjusted earnings per share $3.38 to $3.63 excluding items.Q3 earnings per share $0.23 excluding items.Q3 sales $5.281 billion versus I/B/E/S view $5.31 billion.Q3 same store sales fell 4 percent.Q3 earnings per share view $0.19 -- Thomson Reuters I/B/E/S.Macy's Inc - ‍comparable sales on an owned basis were down 4.0 percent in Q3 and down 3.6 percent on an owned plus licensed basis​.Macy's Inc says saw better gross margin performance in quarter primarily due to tightly controlled inventory position​.Macy's Inc - ‍"a highlight of Q3 was launch of new star rewards loyalty program"​.Macy's Inc - ‍"we expect continued improvement in our trends in q4, including a solid lift from loyalty and digital"​.Macy's Inc - ‍remain on track to meet our full-year sales and earnings guidance for 2017​.  Full Article

Samsung Experience to launch at Macy's Herald Square
Tuesday, 31 Oct 2017 09:00am EDT 

Oct 31 (Reuters) - Macy's Inc :Samsung Experience to launch at Macy’S Herald Square.Macy's Inc - ‍beginning Nov. 1, customers shopping at Macy's Herald Square will be able to explore and purchase a range of Samsung products​.  Full Article

MACY'S INC ‍DECLARES REGULAR QUARTERLY DIVIDEND OF 37.75 CENTS/SHARE
Friday, 27 Oct 2017 11:01am EDT 

Oct 27 (Reuters) - Macy's Inc ::BOARD ‍DECLARED REGULAR QUARTERLY DIVIDEND OF 37.75 CENTS PER SHARE ON MACY'S COMMON STOCK, PAYABLE JAN. 2, 2018​.  Full Article

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

BRIEF-Macy’s Announces Pricing Of Debt Tender Offer

* MACY'S INC - ‍PRICING TERMS OF TENDER OFFER OF CO'S UNIT TO PURCHASE UP TO $400 MILLION IN AGGREGATE PRINCIPAL AMOUNT OF OUTSTANDING DEBT SECURITIES