Macy’s Inc. is one of America’s number one retailers (in terms of annual revenue) and the country’s leading department store chain. The company is headquartered in Cincinnati, Ohio.
As of 2014, Macy’s Inc. has around 175,700 employees and operates over 840 stores across 45 states under the names Macy’s and Bloomingdale’s.
Macy’s Inc. used to be called Federated Department Stores, Inc. (until the company changed its name in 2007).
Federated Department Stores, Inc. was created in 1929 as a result of a combination of Abraham & Straus of Brooklyn, Filene’s of Boston, F&R Lazarus & Co. of Columbus, OH, and Bloomingdale’s of New York.
Federated acquired Macy’s in 1994 and Broadway Stores in 1995 – nearly doubling the size of the company.
In 2005 Federated acquired The May Department Stores Company for $11 billion in stock and converted its own regional brands and May Department Stores to the Macy’s name.
The company’s department stores sell a whole range of products, such as: clothing, shoes, bedding, furniture, housewares, beauty products, accessories, jewelry, and electronics.
According to Macy’s Inc. the company succeeds by striving to be “a living mirror of our civilization in which we see the constant changing needs and wishes of our people.”
Macy’s Inc. – Company Overview
Chairman and CEO: Terry J. Lundgren- Industry: Retailing
- Type: Public
- Listed on New York Stock Exchange (“NYSE”)
- Stock symbol: M
- S&P 500 Component
- Net sales: $27.931 billion USD (FY 2013)
- Net income: $1.486 billion USD (FY 2013)
- Headquarters: Cincinnati, Ohio, USA
- Employees: 175,500 (approximately)
- Founded: 1929 (as Federated Department Stores, Inc.)
- Website: http://www.macysinc.com/
- Investor relations number: 513-579-7000
- Over 840 stores and locations in the United States
Macy’s Inc. – Financial Results
| Key figures (in millions of USD except for share data) | FY 2013 | FY 2012 |
| Net sales | $27,931 | $27,686 |
| Gross margin | $11,206 | $11,148 |
| Operating income | $2,678 | $2,661 |
| Income before income taxes | $2,290 | $2,102 |
| Net income | $1,486 | $1,335 |
| Total assets | $21,623 | $20,991 |
| Long-term debt | $6,728 | $6,806 |
| Shareholders’ equity | $6,242 | $6,051 |
| Net income per common share – basic (in USD) | $3.93 | $3.29 |
| Net income per common share – diluted (in USD) | $3.86 | $3.24 |
Sources: “2013 Consolidated Statements of Income” and “2013 Consolidated Balance Sheets”
Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc., commented on the financial results:
“Macy’s, Inc. had a strong year in 2013, and we are proud of the continued improvement in our ability to serve evolving customer needs at Macy’s and Bloomingdale’s. This was our fifth consecutive year of double-digit growth in earnings per share and our fourth consecutive year of comparable sales growth. In fact, our total sales have grown by more than $4.4 billion in the past four years. Having generated this sustained level of momentum, we continue to drive for further growth through progressively deeper implementation of the M.O.M. strategies that have set Macy’s, Inc. apart from other retailers.”
Macy’s Inc. – Live Stock Market Data
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