M - Macy's, Inc.

Macy’s, Inc. Reports First Quarter 2020 Results

Macy’s, Inc. (NYSE:M) today reported results for the first quarter of 2020. As previously reported, the company had net sales of $3.017 billion.

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  Macy's Reports Mixed Q1 Earnings, CEO Says Another Shutdown Not Anticipated

  Benzinga
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  Macy's reports Q1 loss as COVID-19 impact slashes sales

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Macy’s, Inc. Announces Restructuring to Address Sales Impact from the COVID-19 Pandemic

Macy’s, Inc. (NYSE:M) today announced details of a restructuring that will align its cost base with anticipated near-term sales as the business recovers from the impact of the COVID-19 pandemic, including the closure of stores from March 18 through May 4, 2020 and gradual re-opening.

Macy’s Inc. Announces Commencement of Exchange Offers and Consent Solicitations for Certain Outstanding Debt Securities of Macy’s Retail Holdings, LLC

Macy’s, Inc. (NYSE: M) ("Macy’s") announced today the commencement by its wholly-owned subsidiary, Macy’s Retail Holdings, LLC ("MRH"), of offers to eligible holders to exchange (each, an "Exchange Offer" and, collectively, the "Exchange Offers") (i) new 6.65% Senior Secured Debentures due 2024 ("New 2024 Notes") to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 6.65% Senior Debentures due 2024 issued by MRH ("Old 2024 Notes"), (ii) new 6.7% Senior Secured Debentures due 2028 ("New 2028 Notes") to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 6.7% Senior Debentures due 2028 issued by MRH ("Old 2028 Notes"), (iii) new 8.75% Senior Secured Debentures due 2029 ("New 2029 Notes") to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 8.75% Senior Debentures due 2029 issued by MRH ("Old 2029 Notes"), (iv) new 7.875% Senior Secured Debentures due 2030 ("New 2030 Notes") to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 7.875% Senior Debentures due 2030 issued by MRH ("Old 2030 Notes"), (v) new 6.9% Senior Secured Debentures due 2032 ("New 2032 Notes") to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 6.9% Senior Debentures due 2032 issued by MRH ("Old 2032 Notes"), and (vi) new 6.7% Senior Secured Debentures due 2034 ("New 2034 Notes" and, together with the New 2024 Notes, New 2028 Notes, New 2029 Notes, New 2030 Notes and New 2032 Notes, the "New Notes" and each series, a "series of New Notes") to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 6.7% Senior Debentures due 2034 issued by MRH ("Old 2034 Notes" and, together with the Old 2024 Notes, Old 2028 Notes, Old 2029 Notes, Old 2030 Notes and Old 2032 Notes, the "Old Notes" and each series, a "series of Old Notes"). Each New Note issued in the Exchange Offers for a validly tendered Old Note will have an interest rate and maturity date that is identical to the interest rate and maturity date of the tendered Old Note, as well as identical interest payment dates and optional redemption prices. The New Notes will be MRH’s and Macy’s general, senior obligations and will be secured by a second-priority lien on the same collateral securing Macy’s 8.375% Senior Secured Notes due 2025 issued on June 8, 2020.

Macy’s, Inc. Provides Preliminary First Quarter 2020 Financial Results

Macy’s, Inc. (NYSE: M) today provided preliminary sales and earnings results for the first quarter of 2020. Macy's, Inc.'s financial statements for the quarter ended May 2, 2020 are not yet complete; however, certain preliminary estimated financial information is available and is shown in the below financial highlights. These results do not include the non-cash impact of goodwill and long-lived asset impairment charges, which are expected to have a material impact on the company’s reported results. The company will release its first quarter earnings results and hold a related call on July 1, 2020.

Macy’s, Inc. Raises Approximately $4.5 Billion in Financing

Macy’s, Inc. (NYSE:M) today announced the closing on approximately $4.5 billion of new financing, including its previously announced $1.3 billion of 8.375% senior secured notes, as well as a new $3.15 billion asset-based credit agreement. In addition, the company has amended and substantially reduced the credit commitments of its existing $1.5 billion unsecured credit agreement. The company intends to use the proceeds of the notes offering, along with cash on hand, to repay the outstanding borrowings under the existing $1.5 billion unsecured credit agreement.

Macy’s, Inc. Announces Pricing of Offering of Senior Secured Notes

Macy’s, Inc. (NYSE:M) (the "Company" or "Macy’s") announced today the pricing of an offering (the "Offering") of $1.3 billion aggregate principal amount of 8.375% senior secured notes due 2025 (the "Notes") in a private offering at an offering price of 100% of the principal amount thereof, which represents a $200 million increase in the previously announced size of the Offering. The Notes will be senior, secured obligations of the Company. The Notes will be secured on a first-priority basis by (i) a first mortgage/deed of trust in certain real property of subsidiaries of Macy’s that has been or will be transferred to subsidiaries of Macy’s Propco Holdings, LLC, a newly created direct, wholly-owned subsidiary of Macy’s ("Propco") and (ii) a pledge by Propco of the equity interests in its subsidiaries that own or will own such transferred real property (together, the "Collateral"). The Notes will be, jointly and severally, unconditionally guaranteed on a secured basis by Propco and its subsidiaries and unconditionally guaranteed on an unsecured basis by Macy’s Retail Holdings, Inc., a direct, wholly-owned subsidiary of Macy’s.

Macy’s, Inc. Announces Proposed Offering Of Senior Secured Notes

Macy’s, Inc. (NYSE:M) (the "Company" or "Macy’s") announced today that it is offering, subject to market and other conditions, $1.1 billion aggregate principal amount of senior secured notes due 2025 (the "Notes") in a private offering. Macy’s intends to use the net proceeds from the offering of the Notes, along with cash on hand, to repay all amounts outstanding under its revolving credit facility.

Macy’s, Inc. Provides Preliminary First Quarter 2020 Sales and Operating Performance

Macy’s, Inc. (NYSE: M) today provided preliminary sales and operating results ranges for the first quarter of 2020. The company expects to provide select and preliminary first quarter 2020 financial results on June 9, 2020 and will release its first quarter earnings results and hold a related call on July 1, 2020.

Macy’s, Inc. Announces Dates for Release of First Quarter Results

Macy’s, Inc. (NYSE:M) today announced a schedule for the release of its first quarter results. Due to the significant business disruption caused by the COVID-19 pandemic, and the subsequent impact on the financial statement preparation and reporting process, the company will release its first quarter earnings results and hold a related call on July 1, 2020.

Macy’s, Inc. To Participate In Virtual Fireside Chat With Gordon Haskett Research Advisors

Macy’s, Inc. (NYSE: M) today announced that Jeff Gennette, chairman and chief executive officer, and Paula Price, chief financial officer, will participate in a virtual fireside chat to provide an update on the company’s response to the COVID-19 pandemic. The virtual fireside chat will take place at 11:00am ET on Thursday, April 30, 2020, and will be hosted by Chuck Grom, equity research analyst at Gordon Haskett Research Advisors (GHRA). Media and investors may access a live audio webcast of the presentation at www.macysinc.com/investors. A replay of the webcast will be available on the company's website.

Macy’s, Inc. Announces CFO Transition

Macy’s, Inc. (NYSE: M) announced today that Paula Price, executive vice president and chief financial officer, has made the decision to leave the company as of May 31, 2020. She will continue in her current role until that date, and in order to support a well-ordered transition, Price will remain an advisor to the company through November 2020.

Macy’s, Inc. Provides Update in Response to COVID-19 Outbreak

Macy’s, Inc. (NYSE: M) today announced several actions to position the company for financial flexibility in response to the continued spread and impact of COVID-19.

Macy’s, Inc. Temporarily Closes Stores Nationwide in Response to COVID-19 Outbreak

In response to the widespread COVID-19 outbreak, Macy’s, Inc. (NYSE: M) today announced that it will temporarily close all stores by end of business today, March 17, 2020, through March 31, 2020. This includes all Macy’s, Bloomingdale’s, Bluemercury, Macy’s Backstage, Bloomingdales the Outlet and Market by Macy’s stores. Macy’s, Inc. will provide benefits and compensation to its impacted workforce.

Perfect Your Prom Style at Macy’s

Win best dressed this year with a fashion forward prom look from Macy’s (NYSE:M). Whether buying the perfect prom dress, shopping with friends or getting accessories right, Macy’s is the ultimate prom destination. With a great assortment of on-trend styles and expertly curated fashion from brands like City Studios, B Darlin, Say Yes To The Prom, Betsey Johnson and Speechless, the perfect prom look comes together at Macy’s.

World-Renowned Fashion Influencer Danielle Bernstein Launches Namesake Brand Exclusively for Macy’s

Danielle Bernstein, founder and face behind world-renowned fashion blog WeWoreWhat, today launched an exclusive collection with Macy’s. Inspired by pieces she loves to wear every day, Danielle Bernstein for Macy’s features edgy, mix-and-match suiting in feminine silhouettes, dreamy puff sleeves, and romantic florals with delicate prints and pops of color. Shoppers will enjoy elevated basics at affordable prices with ready-to-wear pieces all under $100. For the first time in her designs, Bernstein will introduce plus sizes, with items ranging from 00–24. Danielle Bernstein for Macy’s is available now on macys.com and at 175 Macy’s locations nationwide.