Macy’s, Inc. Reports Third Quarter 2021 Results

*Comparable sales up 37.2% on an owned basis and up 35.6% on an owned-plus-licensed basis versus 2020; up 8.9% and up 8.7%, respectively, versus 2019
*Diluted EPS of $0.76 and Adjusted diluted EPS of $1.23
*Repurchased $300 million of shares, repaid $1.6 billion in debt ahead of schedule and paid $46 million in dividends
*Added 4.4 million new customers into Macy’s brand, a 28% increase over 2019

“Our company delivered another strong quarter and exceeded our expectations on both top and bottom lines. The results were driven by the effective execution of the Polaris strategy and an improved economic environment. In the quarter, the Macy’s brand added 4.4 million new customers. Consumers continue to spend, and we successfully offered a wide range of expanding merchandise assortment to meet their growing demand,” said Jeff Gennette, chairman and chief executive officer of Macy’s, Inc. “Looking ahead to the fourth quarter, we remain a special place for holiday shopping, and our robust omnichannel ecosystem is showing resilience in the face of labor and supply chain challenges and enables us to meet customer shopping needs with speed and convenience.”

“We are encouraged by the momentum of our business and its strong financial health and continue to invest in positioning our company for long-term sustainable and profitable growth,” Gennette continued. “Today, we are announcing plans to launch a curated digital marketplace platform that will further fuel customer acquisition and sales growth across all of our channels.”
details at: https://www.macysinc.com/investors/news-events/press-releases/detail/1722/macys-inc-reports-third-quarter-2021-results-narrows

Related Posts

Postal Service Announces New Market Dominant Price Adjustment Schedule

To help customers better prepare for a new Market Dominant price adjustment schedule, the Postal Service will not raise prices on Market Dominant products, including Forever stamps, in January 2022. Instead, the next Market Dominant price adjustment is scheduled to happen in July 2022. Beginning January 2023, Market Dominant price adjustments will occur twice a year, (e.g. January 2023, July 2023, January 2024, July 2024, etc.). Market Dominant products include First-Class Mail (FCM), USPS Marketing Mail, Periodicals, Package Services* and Special Services. July 2022 rate authority will include ten months of CPI plus retirement, density, and non-compensatory class authorities as determined by the Postal Regulatory Commission (PRC).The January rate authority will include six months of CPI, plus any unused rate authority.Subsequent July rate authority will include six months of CPI plus the retirement, density, and non-compensatory class authorities and any remaining unused rate authority.

Texas Monthly and 5280 Clean Up at the City and Regional Magazine Awards

Columbus Monthly, Seattle Met, and Denver’s 5280 earned top prizes for General Excellence at the 33rd annual City & Regional Magazine Awards, administered by the University of Missouri School of Journalism and announced Monday at the City & Regional Mag Association’s annual meetup in New Orleans. Twenty-five year-old 5280 and 12 year-old Seattle Met were first-time winners in the General Excellence category, which is split into three prizes based on circulation level. Columbus Monthly, which won among magazines with a circulation of 30,000 or less, had previously won a General Excellence award under a different format in 2001. All three were finalists in their respective categories last year. Click Read More below for additional information.

A Perfect Storm Headed Our Way

These two major industry issues should have everyone’s attention: 1.A potentially significant change (not for the better) in how future postal rates are to be set; 2.The ramifications of a forthcoming Supreme Court ruling on the future of remote/internet sales taxes that could overturn over 50 years of precedent businesses nationwide have relied upon. Our industry must mobilize to take action to respond to these industry-wide threats! The time to do so is right now. Inattention will be costly. Without a concerted, coordinated response, the outcome for both will be dire. Click Read More below for additional information.
Back To Top
×Close search
Search