Core Viewpoint - TJX Companies reported better-than-expected results for the holiday quarter, driven by increased customer transactions, indicating continued market share gains from department stores and other discounters as consumers seek deals [1] Financial Performance - For fiscal 2025 fourth quarter, TJX's net income was $1.40 billion, or $1.23 per share, compared to $1.40 billion, or $1.22 per share, a year earlier [4] - Sales remained relatively unchanged at $16.35 billion, slightly down from $16.41 billion a year prior, with the previous year benefiting from an extra selling week [5] - Earnings per share exceeded expectations at $1.23 compared to the anticipated $1.16, while revenue also surpassed estimates at $16.35 billion versus $16.20 billion [10] Future Guidance - For fiscal 2026, TJX anticipates comparable sales growth of 2% to 3%, below Wall Street's expectation of 3.4% [2][3] - The earnings guidance for fiscal 2026 is projected between $4.34 and $4.43 per share, which is lower than the estimated $4.59 per share [2] Market Dynamics - The company is benefiting from a "trade-down" effect as consumers shift from department stores to TJX for lower-priced clothing and household goods [6][7] - The strong U.S. dollar and unfavorable exchange rates are expected to negatively impact earnings growth by 3% in fiscal 2026 [3] Strategic Expansion - As growth in the U.S. slows, TJX is expanding internationally, including a stake in Brands for Less in Dubai and plans to enter the Spanish market [9]

Macy's, Inc. (NYSE:M) 2025 ICR Conference January 14, 2025 8:00 AM ET Company Participants Tony Spring - Chairman & CEO Adrian Mitchell - COO & CFO Conference Call Participants Matthew Boss - JPMorgan Chase Operator Okay, great. Thanks. It's Matt Boss, Retailing, Department Stores and Specialty Softlines at J.P. Morgan. Really happy to have this morning the team from Macy's. We have Chairman and CEO, Tony Spring; as well as CFO and COO, Adrian Mitchell. Format will be fireside chat. Question-and-Answer Sess ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________ FORM 10-Q ________________________________ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 2, 2024. 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. ( ...

macys inc ★macy's blomingdales BLUEMERCURY 3Q24 Earnings December 11, 2024 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, Inc.'s management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by ...

Financial Data and Key Metrics Changes - Total net sales for Q3 2024 were $4.7 billion, down 2.4% year-over-year, consistent with previous reports [43][54] - Adjusted EPS for Q3 was $0.04, benefiting from asset sale gains, but negatively impacted by delivery expense adjustments [15][53] - Gross margin rate was 39.6%, down 60 basis points year-over-year, with merchandise margin declining 70 basis points [48][49] - SG&A expenses were $2.1 billion, representing 42.1% of total revenue, reflecting a disciplined approach to cost control [51] Business Line Data and Key Metrics Changes - The first 50 Macy's locations reported a positive comp of 1.9%, marking three consecutive quarters of growth [18][67] - Bloomingdale's net sales increased by 1.4% with comps rising 3.2%, driven by women's advanced contemporary apparel and beauty products [26][27] - Bluemercury achieved a 3.3% comp increase, marking its 15th consecutive quarter of positive comps [29] Market Data and Key Metrics Changes - The overall enterprise comps were down 1.3%, with Macy's nameplate comps down 2.2% [43][62] - The luxury segments, including Bloomingdale's and Bluemercury, are expected to collectively grow by 2% to 2.5% [62] Company Strategy and Development Direction - The company is focused on its "Bold New Chapter" strategy, aiming for sustainable profitable growth through improved customer experience and operational efficiency [10][17] - The strategy includes closing approximately 65 non-go-forward locations, up from previous estimates, to enhance profitability [53][115] - Investments in staffing and merchandising are being made to improve customer experience, particularly in high-touch categories like women's shoes and handbags [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about quarter-to-date sales trends, which remain above Q3 levels, despite challenges from unseasonably warm weather [34][56] - The company anticipates a competitive environment for the holiday season but is encouraged by recent improvements in customer engagement and sales [80][96] - The outlook for Q4 2024 includes expected net sales of $7.8 billion to $8 billion, with a cautious approach to consumer spending [57][62] Other Important Information - The company has identified and implemented additional controls to prevent accounting issues from recurring, following an investigation into erroneous entries [11][13] - The company plans to continue its focus on improving inventory management and fulfillment efficiency [32][50] Q&A Session Summary Question: Drivers of comp improvement and sustainability - Management highlighted the positive performance of the First 50 locations as a leading indicator of growth potential, with expectations for expansion in 2025 [74][92] Question: Confidence in test locations and profitability - Management expressed confidence in the transferability of successful initiatives from test locations to broader operations, emphasizing the importance of customer response [90][91] Question: Gross margin outlook and promotional environment - Management acknowledged the competitive landscape and consumer pressure, indicating adjustments to promotional strategies while maintaining focus on profitability [94][96] Question: Performance of smaller format stores and margin analysis - Management reported positive responses to smaller format stores and discussed the impact of weather and competition on merchandise margins [116][121] Question: Guidance assumptions and private brand development - Management indicated that the guidance reflects sequential improvements across various business dimensions, with private brands playing a key role in meeting consumer value expectations [126][130]

Sales Performance - Macy's, Inc. reported preliminary net sales of $4.742 billion for Q3 2024, a decrease of 2.4% compared to Q3 2023[5] - Comparable sales for Macy's First 50 locations increased by 1.9%, marking the third consecutive quarter of positive growth[3] - Bloomingdale's achieved a 1.4% increase in net sales, with comparable sales up 1.0% on an owned basis and 3.2% on an owned-plus-licensed-plus-marketplace basis[6] - Bluemercury reported a 3.2% increase in net sales and a 3.3% increase in comparable sales, representing the fifteenth consecutive quarter of growth[8] Financial Position - The company ended Q3 2024 with cash and cash equivalents of $315 million and total debt of $2.865 billion[11] - Asset sale gains reached $66 million, significantly higher than the previous year, driven by the monetization of non-go-forward assets[10] - Merchandise inventories increased by 3.9% year-over-year, attributed to improved inventory composition and supply chain efficiencies[11] Accounting Issues - An independent investigation revealed erroneous accounting entries related to delivery expenses, hiding approximately $132 to $154 million in cumulative expenses[12] Future Outlook - The company plans to report full Q3 2024 financial results and provide fourth quarter and full year outlooks by December 11, 2024[13] - Future guidance will be updated upon the release of the complete financial results for Q3 2024[16]

Sales Performance - Net sales for the second quarter of 2024 decreased by $193 million, or 3.8%, compared to the second quarter of 2023, totaling $4,937 million[82]. - Comparable sales for Macy's, Inc. declined 4.0% on an owned basis and 3.3% on an owned-plus-licensed-plus-marketplace basis[80]. - Net sales for the 26 weeks ended August 3, 2024, decreased by $329 million, or 3.3%, compared to the same period in 2023, impacted by ongoing macroeconomic conditions[91]. - For the 13 weeks ended August 3, 2024, net sales were $221 million, with a net loss of $135 million[114]. - Comparable sales on an owned basis decreased by 4.0% for the 13 weeks ended August 3, 2024, compared to the same period in the previous year[120]. - The company reported a decrease in comparable sales on an owned-plus-licensed-plus-marketplace basis of 3.3% for the 13 weeks ended August 3, 2024[120]. Financial Metrics - The gross margin increased to $1,999 million, or 40.5% of net sales, compared to $1,954 million, or 38.1% of net sales in the second quarter of 2023[84]. - Adjusted diluted earnings per share for the second quarter of 2024 were $0.53, compared to $0.26 in the second quarter of 2023[81]. - The company reported diluted earnings per share of $0.75 for the second quarter of 2024, compared to $0.48 in the second quarter of 2023[90]. - EBITDA for the 13 weeks ended August 3, 2024, was $439 million, up from $221 million in the same period last year[127]. - Adjusted EBITDA for the 26 weeks ended August 3, 2024, was $802 million, compared to $815 million for the same period in the previous year[127]. Expenses and Costs - SG&A expenses decreased by $7 million, or 0.4%, in the second quarter of 2024 compared to the second quarter of 2023, totaling $1,973 million[85]. - Selling, general and administrative (SG&A) expenses decreased by 1.2% in 2024 compared to 2023, but increased as a percentage of total revenue due to a decline in total revenue[94]. - Credit card revenues decreased by $40 million in 2024, primarily due to higher net credit losses compared to 2023[92]. Cash Flow and Capital Expenditures - Net cash provided by operating activities was $137 million in the first half of 2024, down from $271 million in the first half of 2023[103]. - Capital expenditures in the first half of 2024 were $432 million, focused on digital and technology investments, compared to $564 million in the same period of 2023[105]. - The company ended the second quarter of 2024 with cash and cash equivalents of $646 million, an increase of $208 million from $438 million at the end of the second quarter of 2023[102]. Strategic Initiatives - The company plans to close approximately 55 underproductive Macy's locations in fiscal 2024, up from the previous estimate of 50[79]. - The First 50 locations achieved a second consecutive quarter of comparable sales growth, with Net Promoter Scores increasing approximately 600 basis points from the second quarter of 2023[78]. - Bluemercury experienced a 14th consecutive quarter of comparable sales growth, with an increase of 2.0% on an owned basis[80]. - The company expects to expand its luxury store footprint by approximately 20% through fiscal 2026, including the opening of about 15 small format locations[80]. Taxation - The effective tax rate for the second quarter of 2024 was 23.1%, down from 26.7% in the second quarter of 2023, reflecting different effective tax rates due to state and local taxes[89]. Balance Sheet - Current assets increased from $955 million to $1,028 million from February 3, 2024, to August 3, 2024[113]. - Current liabilities rose from $1,800 million to $2,190 million during the same period[113]. - Noncurrent liabilities increased from $10,199 million to $10,654 million as of August 3, 2024[113]. - The company reported $154 million in dividend income from non-Guarantor subsidiaries for the 13 weeks ended August 3, 2024[115]. Share Repurchase - The company did not repurchase any shares during the first half of 2024, with $1,375 million remaining available under the share repurchase program[108].

2Q24 Earnings August 21, 2024 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, Inc.'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 ...

Macy's, Inc. (NYSE:M) Q2 2024 Earnings Conference Call August 21, 2024 8:00 AM ET Company Participants Pamela Quintiliano - VP of IR Tony Spring - Chairman & CEO Adrian Mitchell - COO & CFO Conference Call Participants Matthew Boss - JPMorgan Chase Brooke Roach - Goldman Sachs Bob Drbul - Guggenheim Partners Dana Telsey - Telsey Advisory Group Blake Anderson - Jefferies Tracy Kogan - Citi Alex Straton - Morgan Stanley Neil Goh - TD Cowen Michael Binetti - Evercore ISI Jay Sole - UBS Janet Kloppenburg - JJK ...

Exhibit 99.1 Macy's, Inc. Reports Second Quarter 2024 Results GAAP EPS and Adjusted Diluted EPS of $0.53, exceeded outlook NEW YORK—August 21, 2024— Macy's, Inc. (NYSE: M) today reported financial results for the second quarter of 2024 and updated its annual guidance. "During the second quarter, we delivered strong earnings performance in a challenging consumer environment," said Tony Spring, chairman and chief executive officer of Macy's, Inc. "Our colleagues executed with discipline, supporting gross marg ...