Summary of Macy's, Inc. Conference Call Company Overview - **Company**: Macy's, Inc. (NYSE:M) - **Industry**: Retail - **Sales**: Over $20 billion - **Store Locations**: Over 700 across various banners including Macy's, Bloomingdale's, and Bluemercury [3][3] Core Business Strategy - **Polaris Strategy**: Focused on transforming the business and enhancing omni-channel capabilities, combining physical stores with a strong e-commerce presence [4][6] - **Omni-Channel Engagement**: Approximately 60-70% of customers engage through omni-channel, highlighting the importance of a seamless shopping experience [4][4] Financial Performance - **Q2 Performance**: Sales exceeded 2019 levels by nearly 2% with a comparable store sales increase of about 6% [9][9] - **New Customer Acquisition**: 5 million new customers acquired in Q2, with 3.2 million being new to the Macy's brand [9][9] - **Guidance**: Expecting single-digit increases in comparable sales for the remainder of the year, with potential headwinds from supply chain issues and COVID variants [10][10] Consumer Trends and Demand - **Consumer Spending**: Confidence in continued consumer spending despite potential economic headwinds [8][8] - **Category Performance**: Strong performance in categories like denim and sportswear, with a cautious outlook on apparel due to supply chain constraints [11][11] Pricing and Promotions - **Pricing Strategy**: Focus on higher average unit retail (AUR) and reduced reliance on deep discounts, with gross margin at 40.6%, an improvement of 180 basis points from 2019 [49][49] - **Promotional Levels**: Lower promotional levels compared to historical norms, with a focus on optimizing pricing through data analytics [52][52] Supply Chain Management - **Supply Chain Challenges**: Anticipating impacts on certain categories, particularly apparel, but confident in managing inventory needs through strong vendor relationships [58][58] - **Inventory Strategy**: Inventory down 14% compared to Q2 2019, with a focus on maintaining a healthy stock-to-sales ratio [61][61] Store Portfolio and Future Outlook - **Store Closures**: Continued assessment of store locations, with 125 closures planned over multiple years, focusing on high-performing locations [66][66] - **Market Share Focus**: Aiming for market share gains and leveraging omni-channel opportunities as the company emerges stronger post-pandemic [67][67] Key Initiatives - **Toys R Us Partnership**: Aiming to leverage the Toys R Us brand to capture a larger share of the toy market, with plans for significant in-store presence [30][30] - **Digital Investments**: Committed to increasing capital spend on digital initiatives to enhance omni-channel capabilities, targeting $10 billion in digital sales by 2023 [46][46] Conclusion - **Overall Sentiment**: Macy's is positioned to capitalize on market opportunities with a strong focus on omni-channel strategies, customer acquisition, and maintaining financial health through effective inventory and pricing management [69][69]

Macy's, Inc. (NYSE:M) Q2 2021 Results Conference Call August 19, 2021 8:00 AM ET Company Participants Jeff Gennette – Chairman and Chief Executive Officer Adrian Mitchell – Chief Financial Officer Mike McGuire – Head of Investor Relations Conference Call Participants Matthew Boss – JP Morgan Chuck – Analyst Kimberly Greenberger – Morgan Stanley Jay Sole – UBS William Reuter – Bank of America Carla Casella – JPMorgan Steph Wissink – Jefferies Omar Saad – Evercore Dana Telsey – Telsey Group Operator Good morn ...

Macy's, Inc. (NYSE:M) Jefferies Virtual Consumer Conference & Digital Gaming Day June 22, 2021 8:00 AM ET Company Participants Adrian Mitchell - Chief Financial Officer Conference Call Participants Stephanie Wissink - Jefferies Stephanie Wissink Good day everyone. I am Stephanie Wissink, the Senior Research Analyst and Managing Director on the consumer research team at Jefferies. Thank you so much for joining us for our Virtual Nantucket Consumer Conference. We are, like you are wishing we were on the Islan ...

Macy’s, Inc. (NYSE:M) Evercore ISI Consumer and Retail Summit Conference June 15, 2021 8:00 AM ET Company Participants Adrian Mitchell - CFO Conference Call Participants Omar Saad - Evercore Omar Saad Good morning, everyone. This is Omar Saad from Evercore ISI, covering the softlines, department store and luxury sector. Thank you very much for joining our Annual Consumer and Retail Summit. We’re very excited to kick off the event this year with Adrian Mitchell, the CFO of Macy’s, relative newcomer to the Ma ...

Macy's, Inc. (NYSE:M) Cowen’s 2nd Annual New Retail Ecosystem CEO Summit May 26, 2021 8:15 PM ET Company Participants Adrian Mitchell - CFO Conference Call Participants Oliver Chen - Cowen and Company, LLC Oliver Chen Welcome to Cowen's New Retail Ecosystem Conference. I’m pleased to welcome Adrian Mitchell, Macy's CFO. Adrian, joined Macy's in November 2020 as Chief Financial Officer. In this role, Mr. Mitchell is responsible for leading all finance functions. Part of Macy's, Mr. Mitchell was a Managing Di ...

Macy's, Inc. (NYSE:M) Q1 2021 Earnings Conference Call May 18, 2021 8:00 AM ET Company Participants Jeff Gennette - Chairman and CEO Adrian Mitchell - CFO Mike McGuire - Head of IR Conference Call Participants Matthew Boss - JPMorgan Lorraine Hutchinson - Bank of America Merrill Lynch Jay Sole - UBS Omar Saad - Evercore Dana Telsey - Telsey Advisory Group Jenna Giannelli - Goldman Sachs Carla Casella - JPMorgan Tracy Kogan - Citi Gabriella Carbone - Deutsche Bank Garrett Greenblatt - Gordon Haskett Oliver C ...

Summary of Macy's, Inc. Conference Call Company Overview - **Company**: Macy's, Inc. (NYSE:M) - **Event**: JPMorgan 7th Annual Retail Round-Up Virtual Conference Call - **Date**: April 14, 2021 Key Points Industry and Market Position - The retail industry is experiencing a recovery as the pandemic subsides, with Macy's positioned to capture demand due to its flexible Polaris strategy [4][6] - Macy's is the second-largest online retailer in its categories, aiming for $10 billion in digital sales by 2023 [6] Consumer Behavior - There is a noticeable increase in consumer spending, particularly among core customers, with a 7% increase in average spend compared to 2019 [5][10] - New customer acquisition has increased by 19% compared to 2019, indicating a positive trend in customer engagement [5][12] Sales and Revenue Trends - Digital sales grew by 24% in 2020, with continued momentum into 2021, including a 75% increase in unique visits and an 8% increase in conversion rates [15][16] - The company is seeing strong performance in categories such as home goods, fine jewelry, fragrances, and luxury handbags [19][20][22] Inventory and Margin Management - Gross margins are improving due to better pricing analytics and inventory management, with a focus on reducing delivery expenses for digital orders [7][43] - The company aims for a gross margin of 37% in 2021, with expectations of lower margins in new categories like toys and home goods [48][53] Store Fleet Transformation - Macy's is closing underperforming stores while investing in remaining locations to enhance omnichannel experiences, including curbside pickup and faster service [38][39] - The company plans to open 45 new Backstage stores, reflecting a successful off-price strategy [26] Capital Allocation and Financial Health - Macy's ended 2020 with $1.7 billion in cash, providing flexibility for growth initiatives and debt reduction [61] - The company is focused on investing in digital supply chain improvements and technology to enhance competitiveness [63] Future Outlook - Macy's aims to return to pre-pandemic sales levels and achieve sustainable profitability through a digitally-led omnichannel strategy [67] - The company is optimistic about the recovery of apparel sales and the growth of new categories, expecting to maintain a healthy sales-to-stock ratio [55][68] Additional Insights - The Macy's Media Network is generating new income streams, contributing $35 million in 2020 and expected to reach $60 million in 2021 [59] - The company is committed to improving customer experience both online and in-store, focusing on younger demographics and enhancing product assortments [28][29] This summary encapsulates the key insights from the conference call, highlighting Macy's strategic positioning, consumer trends, financial health, and future outlook in the retail industry.