Macy’s, Inc. Announces Three-Year Polaris Strategy to Stabilize Profitability and Position the Company for Growth

  • Provides preliminary 4Q and full-year 2019 sales results, narrows annual EPS guidance to upper end of range; provides 2020 guidance and three-year financial targets
  • Begins a reset of fixed cost base to stabilize and then grow profitability and cash flows; expects annual gross cost savings of $1.5 billion to be fully realized by year-end 2022, with $600 million gross cost savings achieved in 2020
  • Prepares to launch next phase of successful Macy’s Star Rewards loyalty program
  • Lays out plans to build four $1 billion power private brands
  • Optimizes store portfolio by continuing the Growth treatment of stores in best malls, closing approximately 125 stores in lower tier malls within three years, and exploring new off-mall formats
  • Establishes single corporate headquarters and relocates digital business to New York City, the heart of the fashion industry

Macy’s, Inc. today announced an updated strategy and three-year plan designed to stabilize profitability and position the company for growth.

We have a clear vision of where Macy’s, Inc. and our brands, Macy’s, Bloomingdale’s and Bluemercury, fit into retail today. We are confident in our Polaris strategy, and we have the resources required to return Macy’s, Inc. to sustainable, profitable growth,” said Jeff Gennette, chairman and chief executive officer of Macy’s, Inc.We will focus our resources on the healthy parts of our business, directly address the unhealthy parts of the business and explore new revenue streams. Over the past three years, we have shown we can grow the top-line; however, we have significant work to do to improve the bottom-line. We are confident the strategy we are announcing today will allow us to stabilize margin in 2020 and set the foundation for sustainable, profitable growth.”

We are taking the organization through significant structural change to lower costs, bring teams closer together and reduce duplicative work. This will be a tough week for our team as we say goodbye to great colleagues and good friends. The changes we are making are deep and impact every area of the business, but they are necessary. I know we will come out of this transition stronger, more agile and better fit to compete in today’s retail environment,” continued Gennette.

The five major components of the Polaris strategy are outlined below.

Strengthen Customer Relationships

The company is focusing on building customer lifetime value, accelerating personalization and monetization programs and expanding its loyalty program. This includes the launch of the next phase of its already successful Macy’s Star Rewards Loyalty program later this month. Loyalty 3.0 is expected to increase the engagement of occasional Macy’s customers and to bring new customers into the brand.

Curate Quality Fashion

Customers come to Macy’s for a compelling curation of the latest trends, exclusive products and the best brands at great value. Macy’s is driving disciplined merchandise product category roles to be the top destination for the best brands, while balancing sales and margin. As part of the merchandising strategy, the company is committed to a more focused approach to its higher-margin private brands business with plans to build four $1 billion brands.

Accelerate Digital Growth

The company has a scaled and growing digital business across its brands that generates more than $6 billion per year in sales. Macys.com contributes to overall operating profit, and the company will continue to invest in its websites and mobile apps to deliver a superior fashion experience, accelerate growth and further strengthen profitability.

The macys.com headquarters will relocate from San Francisco to New York City, the heart of the fashion industry. This will allow for better coordination and increased collaboration and better access to Macy’s brand partners. The company will also expand its presence in the Atlanta area, which will serve as the primary technology hub for the company. This includes adding positions to its current Johns Creek, GA, facility, as well as opening an office in Atlanta.

Optimize Store Portfolio

Store Closures and Staffing

The company completed a rigorous evaluation of Macy’s store portfolio. This included a store-level assessment of each store’s overall value to the fleet, including predicted profitability based on consumer trends and demographics. As a result, Macy’s plans to close approximately 125 of its least productive stores over the next three years, including approximately 30 stores that are in the process of closure now. These approximately 125 stores currently account for approximately $1.4 billion in annual sales.

Across the remaining store fleet, the company is adjusting its staffing with reductions in some stores and increases in others.

The updated stores strategy better serves today’s shopper who expects a consistent experience whenever and wherever they encounter the Macy’s brand.

“Our customers expect convenience and a tailored experience across all channels. We have an opportunity to build a broader yet integrated Macy’s experience within a metropolitan area by investing in our magnet stores, building freestanding Backstage locations and testing new, off-mall store formats,” said Gennette. “The more convenient, brand-right touchpoints we have, the greater loyalty and engagement we engender. This will enable us to grow with the next generation of American shoppers.”

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Calvin Klein, Inc. and Calvin Klein Fragrances Announce CK ONE Underwear and Jeans and CK EVERYONE Fragrance

Company Debut Global Advertising Campaign

Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp., andCalvin Klein Fragrances, a division of Coty Inc., today revealed the new CK ONE underwear and jeans collection and CK EVERYONE, a clean fragrance, both inspired by the raw and rebel spirit of the original CK ONE. The collection and fragrance are unveiled in a global advertising campaign, proclaiming, “I am one, I am many. I love everyone of me.”

A tribute to individuality and the freedom of self-expression, the campaign shot by Glen Luchford stars a group of modern multi-hyphenates including musician and actor Eliot Sumner, skater and photographer Evan Mock, musician and makeup artist MLMA, rapper and dancer Priddy the Opp, and models Cara Taylor and Parker Van Noord. The energic, enigmatic visuals explore the many aspects of self, boldly embracing and proudly showcasing to the world a collective individuality and shattering of the status quo. It is a powerful celebration for those unconstrained by boundaries, gender norms and definitions. The advertising campaign will be featured globally and supported by digital, social, high impact outdoor locations, print and TV.

The new fashion collection and fragrance mark the next chapter of the iconic CK ONE story. Jeans and underwear include staple wardrobe pieces with genderless appeal. CK ONE underwear features graphic prints with bold all-over monogram logos, repeating roses and new colorwaves in key cotton and micro fiber styles. Camo prints, color-blocked styles with a ribbed, sock-inspired waistband and a Recycle capsule featuring underwear and t-shirts made from recycled plastic water bottles will also drop later this season. The CK ONE jeans collection includes logo tees, graphic hoodies and timeless denim silhouettes such as oversized trucker jackets, denim vests, and mom and dad jeans, as well as skirts and shorts with raw hem cuts.

Calvin Klein introduces its first clean, gender-free and environmentally conscious fragrance, CK EVERYONE. CK EVERYONE is formulated with naturally derived ingredients, naturally derived alcohol, is vegan, recyclable, and comes in a folding carton that contains 30% post-consumer recycled materials. CK EVERYONE is a bold new fragrance for every generation, inspired by the authentic and youthful-minded. Master perfumer and creator of the original CK ONE fragrance, Alberto Morillas crafted a clean and genderless fragrance exuding freshness using 79% of naturally derived ingredients and ignoring the traditional signifiers of gender, as reflected in the non-conformity of both the scent and campaign. A citrus fragrance that uplifts with zesty organic orange oil is paired with a blue tea accord and a vibrant cedarwood base creating the perfect combination of clean freshness, sweet sensuality and provocative edge. Combining two icons, CK EVERYONE pays homage to the iconic CALVIN KLEIN UNDERWEAR waistband with a reusable signature elastic band on the bottle.

Coinciding with the launch in North America is the I LOVE EVERYONE OF ME POP-UP in New York City. Open to the public from Thursday, February 13 – Saturday, February 15, visitors will be able to explore and shop the new CK EVERYONE fragrance and CK ONE underwear and jeans. A dedicated fragrance room will allow visitors to discover the different fragrance notes while immersive photo moments play with the concept of individuality referenced in the ad campaign. At the experience, visitors will also have the opportunity to have their image projected on the brand’s famed Houston Street billboard during the duration of the activation.

I LOVE EVERYONE OF ME POP-UP:

666 Broadway, NY, NY 10012

February 13-15th/11am-8pm

ADVERTISING CREDITS:

Creative: Ferdinando Verderi and CALVIN KLEIN

Campaign videos: Sam de Jong

Advertising images: Glen Luchford

EDITORIAL CREDIT:

Fragrance – CK EVERYONE

Fashion – CK ONE underwear, jeans

SOCIAL MEDIA: #CKONE #CKEVERYONE

instagram.com/calvinklein; twitter.com/calvinklein;

youtube.com/calvinklein; facebook.com/calvinklein;

pinterest.com/calvinklein;

brand handle: @calvinklein

Nordstrom Introduces See You Tomorrow: A Resale Shop Curated By Olivia Kim

See You Tomorrow will be available online and in the NYC Flagship store starting on Jan. 31

Nordstrom is proud to announce its latest creative projects initiative, See You Tomorrow, a new recommerce experience launching on January 31, 2020. Powered by Yerdle, See You Tomorrow offers customers both an online resale site and an in-store shopping experience in the NYC Flagship store.

(Courtesy of Nordstrom)

Curated by Olivia Kim, vice president of creative projects at Nordstrom, the resale shop will feature a thoughtfully edited, authenticated assortment of pre-loved apparel and accessories from highly coveted brands. The shop is another avenue for the retailer to encourage discovery and engagement with customers.

We want to provide a unique and elevated resale shopping experience that encourages a sense of discovery and provides access to the brands our customers know and love, while giving them a convenient opportunity to participate in the circular fashion economy,” said Olivia Kim, “We want our customers to feel good not only about what they’re buying, but how they’re buying it.

Nordstrom Incorporated logo. (PRNewsFoto)

At launch, the shop will be stocked with merchandise sourced from the Nordstrom Quality Center (NQC), the facility that receives and processes returned and damaged merchandise from Nordstrom’s full-price channels. All merchandise will be expertly cleaned, repaired and refurbished before it becomes available for sale at See You Tomorrow.

Customers can also participate by contributing their pre-loved items through a customer intake program in the Nordstrom NYC Flagship store in exchange for Nordstrom gift cards that can be spent at Nordstrom, Nordstrom.com, Nordstrom Rack, NordstromRack.com, HauteLook and Trunk Club. Coming soon, Nordstrom will also launch an online intake program where customers will have the ability to mail in merchandise.

In addition to providing customers more ways to engage with us, See You Tomorrow is another step we’re taking to actively support our commitment to sustainability,” said Pete Nordstrom, co-president at Nordstrom. “We’re excited to show our customers another way Nordstrom is striving to leave the world better than we found it and circular fashion is another piece to this puzzle.

Nordstrom has partnered with Yerdle, a technology and logistics startup company, to power the backend operations of the resale platform including cleaning and repairing of product, inventory processing and fulfillment, pricing and authentication of certain luxury designer items in partnership with Entrupy.

The merchandise assortment will include women’s apparel, women’s shoes, handbags, men’s apparel, accessories and shoes, children’s wear and a limited selection of jewelry and watches. Throughout the duration of the shop, See You Tomorrow will highlight special brand partnerships, starting with Ganni, a Coppenhagen-based contemporary fashion brand.

TheSee You Tomorrow shop at the NYC Nordstrom Flagship Store was designed and built in collaboration with artist and furniture designer Marc Hundley, who has previously collaborated with Kim on previous projects at the Nordstrom NYC Flagship store.

The shop will also feature a café space with food and beverage through an outpost of Bonberi Bodega. The offering will include sustainable market finds including fresh juices, salads, grain bowls, noodles and more.

Nordstrom NYC is located at 235 West 57th Street and open during store hours on Monday-Saturday from 10 a.m.-9 p.m. and Sunday from 11 a.m.-7 p.m.

See You Tomorrow will be available to shop online starting Jan. 31 at Nordstrom.com/seeyoutomorrow.

“Feel Good” At STORY At Macy’s

STORY at Macy’s teams up with Well+Good to demystify wellness with curated products, health tips and experiences at 36 stores nationwide

STORY at Macy’s, the ever-changing, narrative-driven retail concept inside 36 Macy’s stores nationwide, unveils its latest theme: “Feel Good.” Now through April 2020, Feel Good STORY brings a fresh focus on wellness and uses merchandise curation and events to explore simple and actionable ways for customers to find greater balance, energy and nourishment. In partnership with the award-winning fitness and wellness media platform, Well+Good, Feel Good STORY leverages its expertise in the field to help define and demystify what it means to live a healthy life through both editorial tips and product picks.

The wellness-focused retail narrative invites discovery through three curatorial spaces and each introduces merchandise and experiences to help you feel Balanced, Energized and Nourished. The Balanced moment is all about mindfulness and invites guests to pause for a complimentary meditation in partnership with Calm, the number one app for sleep, meditation and relaxation. To feel Energized, customers are invited to explore something new, from weighted arm bangles by Bala to an in-store barre fitness class. Finally in Nourished, healthy habits are the focus with new takes on snacking from Dada Daily and alcohol-free elixirs by Seedlip.

Bala – Bangles Resistance Loop Bands, Set of 5 $19.00

STORY at Macy’s product curation meets with editor-approved intel from Well+Good to add a simple, informative layer to the experience. For example, shoppers will discover that to get a good night’s sleep, editors suggest “cooling down your bedroom,” alongside the dodow, a glowing timer that teaches you to fall asleep. Additional tips cover topics like the benefits of dark chocolate, relaxation techniques, and how to maximize your crystals. Well+Good also supports STORY’s merchandise curation by leveraging its 2020 Wellness Trends to inform product selections like snack-able chickpeas. Within these broad moments, STORY at Macy’s and Well+Good take aim at trending topics like sleep, self-care, exercise, hydration, muscle recovery and healthy snacking.

Bala – Weighted 1lb Bangles $49
Bed of Nails – Pillow $49

Well+Good decodes and demystifies wellness to help our community live a healthy lifestyle in a way that works for them,” said Alexia Brue, co-founder of the award-winning media company Well+Good. “Partnering with STORY at Macy’s allows us to share our rigorously researched editorial content in a new and exciting way, giving people in-person tips to feel more Balanced, Energized and Nourished.”

VIM & VIGR-Compression Socks $36.00
Well + Good 100 Healthy Recipes + Expert Advice For Better Living Cookbook $29.99

To bring the Feel Good experience to life, STORY energizes its in-store environment with meditation spaces in partnership with the Calm app at all locations and a range of community-centered events focused on wellness. The concept will host events featuring local experts in the health and wellness space for cooking classes, panel discussions, journaling and meditation workshops, a manicure bar, yoga and barre classes, and mocktail-faking workshops.

AcousticSheep -Sleepphones Headphones $100.00
The Growing Candle-Hyggelight Edith Sandalwood Growing Candle $28.00
Eat For Beauty by Susan Curtis and Tipper Lewis 25.00
The Wellness Project By Phoebe Lapine $25.00

A special selection of STORY at Macy’s wellness product will also be available on macys.com, curated by the three focus areas. From a lavender mimosa candle by Paddywax in Balanced and collapsible foam roller by Brazyn Life in Energized to a mocktail faking kit by Luckies of London in Nourished, online shoppers will be able to discover something that will make them feel good, too.

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Macy’s Celebrates Black History Month By Embracing and Expressing The Diversity Of Black People and Culture

In 1976, the U.S. government introduced Black History Month in conjunction with the nation’s bicentennial to honor the achievements and cultural richness of the African-American community. Today, more than 44.5 million U.S. citizens identify as Black. As such, the company celebrates the gifts, voices and legacy of this diverse population.

Macy’s celebrates Black History Month 2020 at select locations nationwide with special appearances by influencer Monica Veloz, Hair Love writer, director and producer Matthew Cherry, comedian Phoebe Robinson, activist Marley Dias, NFL Hall of Famer Jerry Rice, celebrity hair stylist Kim Kimble, and many more.

Macy’s Black History Month events will be held at the following stores:

  • Macy’s Baldwin Hills (Los Angeles) – Saturday, Feb. 8 at 2 p.m. with Monica Veloz
  • Macy’s State Street (Chicago) – Thursday, Feb. 20 at 6 p.m. with Matthew Cherry
  • Macy’s Herald Square (New York City) – Thursday, Feb. 20 at 6 p.m. with Phoebe Robinson and Marley Dias
  • Macy’s Union Square (San Francisco) – Saturday, Feb. 22 at 2 p.m. with Jerry Rice
  • Macy’s Lenox Square (Atlanta) – Saturday, Feb. 22 at 2 p.m. with Kim Kimble
  • Macy’s Aventura (Miami) – Saturday, Feb. 22 at 2 p.m. with The Workshop at Macy’s

The month’s events kick off at Macy’s Baldwin Hills in Los Angeles with a make-up tutorial and discussion about diversity and inclusion in the beauty industry from influencer Monica Veloz. At Macy’s State Street, Chicago native Matthew Cherry will screen his 2020 Oscar®-nominated short-film Hair Love and discuss how he used the power of family to tell a compelling story about real people. Comedian and co-star of podcast 2 Dope Queens, Phoebe Robinson, and 14-year-old activist and creator of #1000blackgirlbooks, Marley Dias, will appear at Macy’s Herald Square in New York City for an evening of insightful dialogue. Three-time Super Bowl® champion and Hall of Famer Jerry Rice will appear at Macy’s Union Square in San Francisco. At Macy’s Lenox Square in Atlanta, customers can enjoy a demonstration and celebration of the diversity of Black hair from celebrity stylist Kim Kimble. At Macy’s Aventura in Miami, representatives from Macy’s Diversity and Inclusion team and The Workshop at Macy’s will participate in a discussion on the diversity of Black people and Black culture as well as select a high potential Black-owned business to join The Workshop at Macy’s class of 2020.

artist lisa Hunt

In addition to appearances by these notable innovators, Macy’s will showcase Black History Month-themed windows throughout February in Chicago, New York City, Philadelphia, and Washington, D.C. Macy’s locations. The windows were created in partnership with Maplewood, New Jersey artist, Lisa Hunt. “My work explores the spatial and meditative relationships found within repeat patterns,” she commented. “The windows are expressed with a minimalist approach inspired by Art Deco, traditional African and Eastern textiles comprised of graphic shapes, symbols, and re-imagined typographic elements. The screen printed patterns employ an aesthetic use of gold leaf as a nod to its adorning use throughout art history.”

ONYX, Macy’s Black Employee Resource Group, was instrumental in developing this year’s campaign including the theme, display windows, and volunteer opportunities across the country. Throughout the campaign, Macy’s will contribute a total of $10,000 to charitable organizations such as Jerry Rice’s 127 Foundation and local Urban Leagues.

Macy’s mission is to embed diversity and inclusion into how we think, act, and operate. We are strongest when we are representative of the many communities we serve and we are thrilled to offer our customers engaging Black History Month events that honor and reflect the Black experience and its impact on global culture,” said Shawn Outler, Macy’s chief diversity officer.

Macy’s Celebrates Lunar New Year 2020

Usher in the “Year of the Rat” with special in-store events, commemorative products, and the perfect gifts for the holiday at select Macy’s stores across the country

Macy’s celebrates Lunar New Year in select stores across the country. (Graphic: Business Wire)

In celebration of Lunar New Year 2020, Macy’s will commemorate the “Year of the Rat” with special in-store events in select locations nationwide beginning January 19 through February 8. Macy’s is also proud to offer a specially curated selection of Lunar New Year-themed products and holiday gifts available in select stores and online at macys.com/celebrate, including fashion, cosmetics, home décor, and more.

At Macy’s, we’re proud of our commitment to diversity and inclusion,” said Jose Gamio, senior director of Multicultural Community Engagement. “We are thrilled to highlight the diverse cultures of our customers, communities, and colleagues by celebrating Lunar New Year across the country.

At select Macy’s stores, Macy’s will honor the “Year of the Rat” with in-store events including traditional lion dance performances, cooking demos, giveaways, and more. During the events, attendees can also receive a limited-edition “Year of the Rat” enamel pin set when they make a qualifying purchase.

Plus, customers can celebrate the New Year in style or find the perfect gift for a loved one by shopping Macy’s curated selection of Lunar New Year-themed products, including fashion, accessories, cosmetics, kitchenware, home décor, and more. Products are available in select stores and online at macys.com/celebrate. Commemorative Macy’s Lunar New Year gift cards are also available.

Finding the perfect gift or holiday look is easy with Macy’s Personal Stylists. Available at select stores, this free service provides customers with help from a lifestyle expert dedicated to supporting them with all aspects of their shopping experience. Make an appointment in-store or online at www.macys.com/personalstylist.

Below are the dates and locations for Macy’s Lunar New Year in-store events:

  • Macy’s Flushing (Flushing, NY) – Sunday, Jan. 19
  • Macy’s Herald Square (New York, NY) – Thursday, Jan. 23
  • Macy’s Ala Moana (Honolulu, HI) – Saturday, Jan. 25
  • Macy’s South Coast Plaza (Costa Mesa, CA) – Saturday, Feb. 1
  • Macy’s Santa Anita (Arcadia, CA) –Saturday, Feb. 1
  • Macy’s Union Square (San Francisco, CA) – Saturday, Feb. 8

To learn more about how Macy’s is celebrating Lunar New Year, including a complete listing of event details and additional information, visit www.macys.com/celebrate.

Wrap Up The Holidays With Last-Minute Gifts At Macy’s

Macy’s Makes Last-Minute Gift Shopping Easier than Ever with Grab and Go Gifts, Extended Store Hours and Special Deals

Gifts Arrive In the Nick of Time with Fast Shipping Solutions

It’s beginning to look a lot like … you waited until the last minute. Eight tiny reindeer aren’t coming to the rescue, but Macy’s has it covered with unique and thoughtful last-minute ideas from ultra-luxe to gifts under $100, $50 or $25 to make everyone believe their special gift was wrapped and sitting under the tree weeks ago. Whether you’re looking for something sparkly from the Forevermark Tribute™ Jewelry Collection or scoring an out of this world gift like First We Feast’s “Hot Ones” exclusive hot sauce pack and gear from the hit Complex Networks series, Macy’s makes finding great gifts on every budget so easy that they’re sure to get everything on the “what they really, really want” list.

When the elves have left the building, Macy’s is here to help wrap it up fast with extended store hours, fast shipping solutions and special deals. To ensure everyone’s checked off the list, Macy’s will open early and close late until Dec. 24, check your local store for up-to-date hours.

  • On Dec. 21, grab your wallet and dash to your local Macy’s, the first 250 shoppers in-store will receive a free $10 Macy’s Reward Card.
  • Orders placed by Saturday, Dec. 21 with standard shipping or by noon EST on Sunday, Dec. 22 with express delivery will arrive by Christmas.
  • Orders placed by 3 p.m. on Dec. 24 can be picked up in-store by 6 p.m., just in time for Christmas morning!

STORY at Macy’s

Faster than you can call on Dasher, Dancer or Prancer, score the perfect gift from STORY at Macy’s. “Home for the Holidays STORY,” the latest theme at the narrative-driven concept store inside Macy’s locations nationwide, features more than 900 unique presents from 200 small businesses. Experience this editorial-inspired living gift guide and discover a wonderland of gifts for everyone on the list in the ultimate home setting. From grooming kits and whimsical games to food-themed finds and rock music inspired collectibles, STORY at Macy’s gifts add wonder and merriment to any holiday celebration. Visit STORY at Macy’s at select locations or shop a highlight of gifts online at macys.com/STORY.

Discover a selection of gifts including:

Macy’s has you covered with unique and thoughtful last-minute gifts in every price range this holiday season; Luckies Of London Pocket Tin Speakers 2.0, $34.00 (Photo: Business Wire)
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