Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 1, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-13536 Macy's, Inc. (Address of Principal Executive Offices, including Zip Code) (Registrant's telephone number, including area c ...

Core Insights - Myriad Uranium Corp. has reported that the chemical assay grades of U3O8 from 20 boreholes at the Copper Mountain Uranium Project are, on average, 20% higher than previously reported gamma probe results, indicating significant uranium mineralization [2][4][31] - The results suggest the presence of extensive higher-grade uranium mineralization that was previously undetected, which may have positive implications for historical resource estimates [4][5][23] Summary by Sections Company Overview - Myriad Uranium Corp. holds a 75% interest in the Copper Mountain Uranium Project in Wyoming, which has a history of uranium mining and exploration, including significant investment by Union Pacific in the late 1970s [31][32] - The project area has seen extensive drilling, with approximately 2,000 boreholes completed, indicating substantial exploration potential [31] Recent Developments - The company announced the results of chemical assays from 20 boreholes, confirming high-grade uranium mineralization at the Canning Deposit [2][4] - The average U3O8 grades from the chemical assays are 20% higher than the previously reported equivalent spectral gamma probe results, indicating a potential disequilibrium in the uranium system [2][4][23] Technical Insights - The assays revealed that many intervals previously thought to contain low uranium concentrations based on gamma probe results actually have significantly higher concentrations, which could lead to a reassessment of the project's resource potential [4][5] - The highest grade reported so far is 8,325 ppm U3O8, an increase from the previously reported 8,060 ppm [7] Future Actions - Myriad plans to expand its drilling and sampling program to include intervals previously excluded as "low-grade" based on gamma probe results, with additional assays from 14 remaining boreholes pending [4][5] - The company is considering the implications of the new assay results on historical estimates and will conduct further analyses to understand the causes of the observed disequilibrium [4][23]

Group 1 - Macy's shares have underperformed over the past year, losing approximately 30% of their value as investors express impatience with the company's business transformation efforts [1] - The company has declined interest from potential buyers, indicating a strategic decision to continue its transformation independently [1]

Financial Data and Key Metrics Changes - Fourth quarter net sales were approximately $7.8 billion, down from $8.1 billion in the previous year, aligning with guidance [31] - Total enterprise comparable sales increased by 0.2%, marking the highest quarterly results since Q1 2022 [31] - Adjusted EPS for the fourth quarter was $1.8, exceeding guidance due to better-than-expected SG&A and credit card revenues [13][35] Business Line Data and Key Metrics Changes - Macy's net sales decreased by 5.3%, with comparable sales down 0.9% [32] - Bloomingdale's achieved a 6.5% increase in comparable sales, the strongest fourth quarter volume in its history [17] - Blue Mercury's net sales rose by 2.4%, with comparable sales increasing by 6.2% [32] Market Data and Key Metrics Changes - The first fifty Macy's locations saw a positive 1.2% comparable sales growth, while the remaining locations lagged behind [14] - The luxury segment, particularly Bloomingdale's, showed strong performance, indicating a robust demand in that market [17][18] Company Strategy and Development Direction - The "Bold New Chapter" strategy aims to return the company to sustainable profitable growth by focusing on customer needs and improving the store environment [7][8] - The company plans to close approximately 150 underperforming stores to concentrate resources on more productive locations [15][100] - Investments in digital improvements and marketing strategies are being prioritized to enhance customer experience [16][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic shifts made, despite acknowledging ongoing external uncertainties affecting consumer behavior [21][30] - The company anticipates a challenging environment in 2025, with guidance reflecting caution due to economic pressures [38][90] Other Important Information - The company generated $679 million in free cash flow, a 71% increase from the previous year, and returned $192 million to shareholders through dividends [11][36] - The company is committed to reducing capital expenditures while prioritizing investments that support long-term growth [21][43] Q&A Session Summary Question: Insights on 2025 and same-store sales constraints - Management highlighted progress in the first year of the strategy, with growth in the first fifty stores and closing of underperforming locations [47] Question: Drivers of SG&A rate pressure - Management indicated that SG&A pressures are being managed through reinvestment in customer experience and operational efficiencies [51] Question: Engaging various customer demographics - Management emphasized the strength of the Macy's portfolio and its ability to adapt to changing consumer needs across different demographics [58] Question: Overall consumer health and promotional levels - Management noted that consumer health remains under pressure but emphasized the importance of creating compelling offerings to drive sales [72] Question: Trends in go-forward comps and category dynamics - Management reported strong performance in ready-to-wear and beauty categories, while acknowledging challenges in the home segment [84]

In a retail world where growth is harder to come by, Macy’s is prioritizing stability over expansion, adjusting to the realities of a more competitive and unpredictable market.Macy’s fourth-quarter results released Thursday (March 6) reflect a retail landscape where resilience is the key due to uncertain external factors and cautious consumers. As other retailers expand aggressively, Macy’s has held its ground, maintaining its store footprint amid a shifting market. This strategy hints at a deeper focus on ...

Macy’s, Inc. (M) has reported fourth-quarter fiscal 2024 results, wherein the top line lagged the Zacks Consensus Estimate but the bottom line surpassed the same. Revenues and earnings decreased from the year-ago quarter’s reported figures. Comparable sales (comps) fell on an owned basis.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.As the company concludes the first year of its Bold New Chapter strategy, investments in the customer experience have driven the highest comps of the ye ...

Retail stock Macy's Inc (NYSE:M) is down 1.9% at 13.05, earlier hitting a 52-week low of $12.60. The company reported mixed fourth-quarter results, including better-than-expected earnings alongside a revenue miss, but investors are focusing in on the disappointing full-year guidance. Notably, CEO Tony Spring's turnaround efforts appear to be taking shape, however, with comparable sales up 0.2% -- the highest since the first quarter of 2022. On the charts, the $16 level has been keeping rallies in check sinc ...

Financial Data and Key Metrics Changes - Fourth quarter net sales were approximately $7.8 billion, down from $8.1 billion last year, in line with guidance [43] - Total enterprise comps increased by 0.2%, the highest quarterly results since Q1 2022 [43] - Adjusted EPS for the fourth quarter was $1.80, above guidance, primarily due to better-than-expected SG&A and credit card revenues [15][50] - Free cash flow grew by 71% to $679 million, including $283 million from asset monetization [12][51] - Year-end inventories increased by 2.5% year-over-year, with half of the increase attributed to the conversion to cost accounting [47] Business Line Data and Key Metrics Changes - Macy's net sales decreased by 5.3%, with comps down 0.9% [44] - Bloomingdale's achieved a positive 6.5% comp, the strongest fourth quarter volume in its history [22] - Bluemercury's net sales were up 2.4%, with comps rising 6.2% [44] - The First 50 locations at Macy's achieved a positive 1.2% comp, outperforming the rest of the fleet [16] Market Data and Key Metrics Changes - The luxury segment showed strong performance, with Bloomingdale's and Bluemercury continuing positive comp trends [21] - Macy's media network revenues increased by 7%, reflecting growth in advertisers and campaign counts [45] Company Strategy and Development Direction - The "Bold New Chapter" strategy focuses on improving store environments and enhancing the omnichannel customer experience [9][10] - The company plans to continue reducing CapEx while prioritizing investments that support growth and profitability [29] - The strategy includes closing underperforming stores to focus resources on go-forward locations [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic shifts made, while acknowledging the need for continued work [13] - The company is cautious about the external environment and consumer health, expecting pressure to continue in the near term [100][126] - The outlook for fiscal 2025 includes net sales of $21 billion to $21.4 billion, with comps expected to decline by 2% to 0.5% [55][56] Other Important Information - The company closed 64 non-go-forward Macy's stores ahead of the planned 50 closures, contributing to asset sale gains of $144 million [12][18] - The company is focused on enhancing its private brand offerings, with plans to address all home furnishing brands by mid-2025 [134] Q&A Session Summary Question: Areas of strength relative to same-store sales constraints - Management highlighted progress in the first year of the Bold New Chapter, including growth in the First 50 stores and closing underperforming locations [69][70] Question: Drivers of SG&A rate pressure - SG&A expenses were impacted by lower total revenue, but savings from store closures are being reinvested into customer experience initiatives [48][78] Question: Engaging various customer demographics - The company emphasized its multi-category business and strong partnerships, which allow for flexibility in navigating the uncertain environment [85][86] Question: Overall consumer health and promotional levels - Management noted that consumer health remains under pressure, with a focus on making offerings more compelling [99][103] Question: Trends in go-forward comps and category dynamics - The company observed strong performance in ready-to-wear and beauty categories, while the home business faced challenges [116][120] Question: Private label penetration and store closures - The company is working to rebuild its private label business and remains committed to closing approximately 150 stores by the end of fiscal 2026 [134][139]

Macy's (M) came out with quarterly earnings of $1.80 per share, beating the Zacks Consensus Estimate of $1.55 per share. This compares to earnings of $2.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.13%. A quarter ago, it was expected that this department store operator would post earnings of $0.07 per share when it actually produced earnings of $0.04, delivering a surprise of -42.86%.Over the last four quarters, the c ...

4Q24 Earnings March 6, 2025 Safe Harbor Statement All statements in this presentation that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy's management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this prese ...