Macy's, Inc. (NYSE:M) Q4 2020 Results Conference Call February 23, 2021 8:00 AM ET Company Participants Mike McGuire - Head of Investor Relations Jeff Gennette - Chairman and Chief Executive Officer Adrian Mitchell - Chief Financial Officer Conference Call Participants Chuck Grom - Gordon Haskett Paul Lejuez - Citigroup Kimberly Greenberger - Morgan Stanley Matthew Boss - JPMorgan Omar Saad - Evercore Partners Michael Binetti - Crédit Suisse Dana Telsey - Telsey Advisory Group Stephanie Wissink - Jefferies ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-13536 macy's inc Macy's, Inc. (Exact name of registrant as specified in its charter) Delaware 13-3324058 (State or other jurisdiction of i ...

Summary of Macy's Inc. Conference Call (December 1, 2020) Company Overview - **Company**: Macy's Inc. (NYSE:M) - **Industry**: Retail, specifically department stores - **Revenue**: Nearly $25 billion in 2019 across over 770 store locations [2][5] - **Management**: CEO Jeff Gennette and CFO Adrian Mitchell [3] Key Themes and Insights 1. Response to COVID-19 - **Cash Preservation**: Focused on cash preservation during the crisis, leading to refinancing and a strong liquidity position heading into Q4 [5] - **Channel Shift**: Rapid shift to digital, with stores acting as fulfillment centers during closures, handling over 50% of digital business [6][12] - **Innovation**: Launched curbside pick-up and partnered with Klarna and DoorDash to enhance customer experience [7][8] 2. Customer Engagement and Adaptation - **Customer Journey**: Emphasized the need to adapt to changing customer behaviors, focusing on digital engagement and safety measures [10][12] - **Product Expansion**: Expanded offerings in home categories and other high-demand areas based on customer feedback [11] 3. Polaris Strategy - **Digital Focus**: Accelerated digital strategies, aiming for e-commerce to represent 40% or more of sales [22][23] - **Store Optimization**: Plans to optimize the store experience and explore off-mall locations to capture market share from competitors [18][48] - **Cost Management**: Resetting the cost base to improve profitability while managing SG&A expenses [20][60] 4. Market Opportunities - **Market Share Gains**: Anticipated market share opportunities due to competitor closures, particularly in beauty and dress categories [46][48] - **Brand Relationships**: Strong relationships with brands, focusing on curated assortments and private label growth [50][51] 5. Financial Performance and Future Outlook - **Cost Savings**: Achieved $630 million in annualized cost savings, with SG&A down over 22% in Q3 [60][62] - **Capital Allocation**: Focus on liquidity and financial flexibility, with plans to reinstate dividends and share repurchases when appropriate [67][69] Additional Insights - **Customer Loyalty**: Increased loyalty program penetration to over 56%, with significant new member acquisition [42] - **E-commerce Growth**: E-commerce grew 53% in Q2 and 27% in Q3, with expectations to maintain high penetration levels [22][23] - **Technology Investments**: Continued investment in technology and analytics to enhance decision-making and customer experience [39][58] Conclusion Macy's Inc. is navigating a challenging retail landscape by focusing on digital transformation, optimizing its store fleet, and enhancing customer engagement. The company is well-positioned to capitalize on market share opportunities arising from competitor closures while maintaining a strong emphasis on cost management and financial flexibility.

Macy's Inc (NYSE:M) Q3 2020 Earnings Conference Call November 19, 2020 8:00 AM ET Company Participants Mike McGuire - Head of Investor Relations Jeff Gennette - Chairman and Chief Executive Officer Adrian Mitchell - Chief Financial Officer Conference Call Participants Matthew Boss - J.P. Morgan Tracy Kogan - Citigroup Bob Drubl - Guggenheim Paul Trussell - Deutsche Bank William Reuter - Bank of America Omar Saad - Evercore ISI Carla Casella - J.P. Morgan Kimberly Greenberger - Morgan Stanley Oliver Chen - C ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 1, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-13536 Macy's, Inc. (Exact name of registrant as specified in its charter) Delaware 13-3324058 (State or other jurisdiction of incorporation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 2, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-13536 Macy's, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 1, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-13536 Macy's, Inc. (Exact name of registrant as specified in its charter) Delaware 13-3324058 (State or other jurisdiction of incorporation or org ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 2, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-13536 Macy's, Inc. (Exact name of registrant as specified in its charter) Delaware 13-3324058 (State or other jurisdiction of incorporatio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 3, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-13536 Macy's, Inc. (Exact name of registrant as specified in its charter) Delaware 13-3324058 (State or other jurisdiction of incorporation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 4, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-13536 Incorporated in Delaware I.R.S. Employer Identification No. 13-3324058 7 West Seventh Street Cincinnati, Ohio 45202 and 151 West 34th Str ...