Macy’s Inc. is a US-based omnichannel retailer headquartered in New York City. There are three retail brands within the company: Macy's, Bloomingdale's, and Bluemercury. The enterprise has a robust e-commerce business, a rich mobile experience, and a national store footprint so its customers can shop the way they live, any time, any place. As of FY2021, the Company shut down two stores operated with 725 store locations in 43 states, the District of Columbia, Puerto Rico, and Guam. 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. 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.
As of FY2021, Macy’s had 725 stores, comprising a total of approximately 112 million square feet. At these locations, the store boxes consisted of 323 owned boxes, 356 leased boxes, 104 boxes operated under arrangements where the company owned the building and leased the land, and four boxes of partly owned and partly leased buildings.
In FY2020 and FY2019, the company closed down 48 and 92 stores respectively as a part of its restructuring process strategy and the impact of COVID -19. As part of the strategy, which was developed in FY2019 and refined in FY2020, the Company increased its digital channels, expanded its off-mall stores, and modernized its technology and supply chain infrastructures. In conjunction with these initiatives, the Company announced its plan to close approximately 125 of its least productive stores over the next three years in FY2019.
The overall sales increased 43% on an owned basis and 42.9% on an owned-plus-licensed basis in FY2021 compared to FY2020 YoY. There was a continuous change in consumer shopping behaviors driven in part by the COVID-19 pandemic that resulted in a 13% increase in digital sales compared to FY2020 YoY.
United States of America
United States of America
United States of America
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United States of America
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