Macy's Business Summary

Macy's, Inc. (M) operates as a premier omnichannel retailer, generating revenue primarily through the sale of apparel, accessories, cosmetics, and home goods across its three iconic nameplates: Macy's, Bloomingdale's, and Bluemercury. The company’s business model is anchored in a mix of owned and licensed retail sales, supplemented by a growing third-party digital marketplace, credit card net revenues, and the Macy's Media Network. As of February 2026, the company is aggressively executing its "A Bold New Chapter" strategy, which involves optimizing its store fleet by closing underperforming locations while scaling its high-growth luxury banners and small-format stores. Macy's maintains a leading 6.4% share in the U.S. department store market, positioning it as a dominant player relative to direct competitors such as Kohl's, Nordstrom, and Dillard's, while simultaneously defending its market share against off-price giants like TJX Companies and big-box retailers like Target. Originally founded in 1858 by Rowland Hussey Macy, the company is currently led by Chairman and CEO Tony Spring, a 36-year veteran of the organization and former head of Bloomingdale's who assumed the top role in early 2024. The executive team was further bolstered in June 2025 with the appointment of Thomas J. Edwards as Chief Operating Officer and Chief Financial Officer; Edwards, a Wharton MBA, brings nearly 40 years of experience from leadership roles at Capri Holdings, Brinker International, and Wyndham Hotel Group. Technology initiatives are directed by CIO Keith Credendino, whose pedigree includes senior digital roles at Inspire Brands and The Home Depot. The company’s strategic direction is overseen by a board featuring Lead Independent Director Paul Varga and notable members such as Naveen Chopra, while its capital structure is supported by major institutional investors including BlackRock and Vanguard, which collectively hold approximately 20% of the company's shares.