Macy's Inc Stock

Macy's, Inc. operates department stores.

The company's operations are conducted through Macy's, Macy's Backstage, Market by Macy's, Bloomingdale's, Bloomingdale's The Outlet, Bloomies, and bluemercury. In addition, Bloomingdale's in Dubai, United Arab Emirates, and Al Zahra, Kuwait are operated under license agreements with Al Tayer Insignia, a company of Al Tayer Group, LLC.

The company sells a wide range of merchandise, including apparel and accessories (men’s, women’s and kids), cosmetics, home furnishings and other consumer goods. The specific assortments vary by size of store, merchandising assortments and character of customers in the trade areas. Most stores are located at urban or suburban sites, principally in densely populated areas across the United States.

In 2022, the company’s subsidiaries provided various support functions to its retail operations on an integrated, company-wide basis.

The company’s wholly-owned bank subsidiary, FDS Bank, provides certain collections, customer service and credit marketing services in respect of all credit card accounts that are owned either by Citibank, N.A. or FDS Bank and that constitute a part of the credit programs of the company’s retail operations.

Macy’s Systems and Technology, Inc., a wholly-owned indirect subsidiary of the company, provides operational electronic data processing and management information services to all of the company’s operations other than bluemercury.

Macy’s Merchandising Group, Inc. (MMG), a wholly-owned direct subsidiary of the company, and its subsidiary Macy's Merchandising Group International, LLC, are responsible for the design and development of Macy’s private label brands and certain licensed brands. Bloomingdale’s uses MMG for a small portion of its private label merchandise. The company believes that its private label merchandise differentiates its merchandise assortments from those of its competitors. MMG also offers its services, either directly or indirectly, to unrelated third parties.

Macy’s Logistics and Operations, a division of a wholly-owned indirect subsidiary of the company, provides warehousing and merchandise distribution services for the Company’s operations and digital customer fulfillment.

Seasonality

The retail business is seasonal in nature with a high proportion of sales and operating income generated in the months of November and December. Working capital requirements fluctuate during the year (year ended January 28, 2023), increasing in mid-summer in anticipation of the fall merchandising season and increasing substantially prior to the months of November and December when the company carries significantly higher inventory levels.

Private Label Brands and Related Trademarks

The principal private label brands offered by the company include Alfani, And Now This, Aqua, Bar III, Belgique, Charter Club, Club Room, Epic Threads, Family PJ’s, first impressions, Giani Bernini, Holiday Lane, Home Design, Hotel Collection, Hudson Park, Ideology, I-N-C, jenni, JM Collection, Karen Scott, lune+aster, M-61, Maison Jules, Martha Stewart Collection, Oake, Sky, Style & Co., Sun + Stone, Sutton Studio, Tasso Elba, The Cellar, Tools of the Trade and Wild Pair.

The trademarks associated with the company's private label brands, other than Martha Stewart Collection, are owned by the company. The Martha Stewart Collection is owned by a third party, which licenses the trademark associated with the brand to company pursuant to an agreement. The agreement for the Martha Stewart Collection ended on January 31, 2023, and the company will sell through remaining inventory during 2023.

History

Macy's, Inc. was founded in 1830. The company was incorporated under the laws of the state of Delaware in 1985.