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M Macy`s

Macy's, Inc. engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. Its brands include Macy's, Bloomingdale's, and Bluemercury. It offers men's, women's, and children's apparel, women's accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products. The company was founded by Rowland Hussey Macy Sr. on March 6, 1929 and is headquartered in New York, NY.

Company profile

Ticker
M
Exchange
CEO
Jeffrey Gennette
Employees
Incorporated
Location
Fiscal year end
Former names
FEDERATED DEPARTMENT STORES INC /DE/
SEC CIK
IRS number
133324058

M stock data

(
)

Calendar

8 Dec 20
5 Mar 21
30 Jan 22
Quarter (USD)
Oct 20 Aug 20 May 20 Nov 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Feb 20 Feb 19 Feb 18 Jan 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Macy`s earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 1.62B 1.62B 1.62B 1.62B 1.62B 1.62B
Cash burn (monthly) (positive/no burn) (positive/no burn) 72.33M 420.92M (positive/no burn) (positive/no burn)
Cash used (since last report) n/a n/a 300.82M 1.75B n/a n/a
Cash remaining n/a n/a 1.32B -126.52M n/a n/a
Runway (months of cash) n/a n/a 18.3 -0.3 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Mar 21 Varga Paul C Common Stock Buy Aquire P No No 15.35 6,514 99.99K 40,479
26 Feb 21 Varga Paul C Common Stock Buy Aquire P No No 15.25 13,115 200K 33,965
25 Feb 21 Varga Paul C Common Stock Buy Aquire P No No 15.5313 20,000 310.63K 20,850
31 Dec 20 Leslie D. Hale Phantom Stock Units Common Stock Grant Aquire A No No 8.1367 1,537 12.51K 1,537
31 Dec 20 Lenehan William H Phantom Stock Units Common Stock Grant Aquire A No No 8.1352 3,074 25.01K 3,074
31 Dec 20 Roche Joyce M Phantom Stock Units Common Stock Grant Aquire A No No 8.1352 1,768 14.38K 1,768
87.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 362 338 +7.1%
Opened positions 94 47 +100.0%
Closed positions 70 83 -15.7%
Increased positions 79 87 -9.2%
Reduced positions 124 120 +3.3%
13F shares
Current Prev Q Change
Total value 3.48B 1.44B +140.6%
Total shares 270.64M 253.3M +6.8%
Total puts 27.29M 24.81M +10.0%
Total calls 15.69M 9.87M +59.0%
Total put/call ratio 1.7 2.5 -30.8%
Largest owners
Shares Value Change
BLK Blackrock 45.72M $514.35M -0.3%
Vanguard 31.55M $354.98M +18.7%
Yacktman Asset Management 25.15M $282.98M -28.3%
STT State Street 15.04M $169.19M +4.7%
Dimensional Fund Advisors 8.21M $92.38M -11.6%
Contrarius Investment Management 8.08M $90.87M -6.3%
Appaloosa 6.4M $72M NEW
Renaissance Technologies 6.29M $70.82M NEW
Arrowstreet Capital, Limited Partnership 5.7M $64.13M -22.0%
Millennium Management 5.01M $56.36M -4.1%
Largest transactions
Shares Bought/sold Change
Yacktman Asset Management 25.15M -9.94M -28.3%
Appaloosa 6.4M +6.4M NEW
Renaissance Technologies 6.29M +6.29M NEW
Vanguard 31.55M +4.97M +18.7%
Norges Bank 4.2M +4.2M NEW
Balyasny Asset Management 2.91M +2.91M NEW
Susquehanna International 4.27M -2.71M -38.8%
D. E. Shaw & Co. 2.8M +2.45M +696.5%
Parallax Volatility Advisers 2.11M +2.11M NEW
Samlyn Capital 1.72M +1.72M NEW

Financial report summary

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Risks
  • The recent outbreak of COVID-19 may have a significant negative impact on the Company's business and financial results
  • Our strategic initiatives may not be successful, which could negatively affect our profitability and growth.
  • Our sales and operating results depend on consumer preferences and consumer spending.
  • We face significant competition in the retail industry.
  • We face challenges as consumers migrate to online shopping and we depend on our ability to differentiate Macy's in retail's ever-changing environment.
  • Our ability to grow depends in part on our stores remaining relevant to customers.
  • We may not be able to successfully execute our real estate strategy.
  • Our revenues and cash requirements are affected by the seasonal nature of our business.
  • We depend on our ability to attract, train, develop and retain quality employees.
  • We depend on the success of advertising and marketing programs.
  • If cash flows from our private label credit card decrease, our financial and operational results may be negatively impacted.
  • Gross margins could suffer if we are unable to effectively manage our inventory.
  • Our defined benefit plan funding requirements or plan settlement expense could impact our financial results and cash flow.
  • Increases in labor costs and the cost of employee benefits could impact our financial results and cash flow.
  • If our company’s reputation and brand are not maintained at a high level, our operations and financial results may suffer.
  • If we are unable to protect our intellectual property, our brands and business could be damaged.
  • Our sales and operating results could be adversely affected by product safety concerns.
  • A material disruption in our information technology systems could adversely affect our business or results of operations.
  • If our technology-based e-commerce systems do not function properly, our operating results could be negatively affected.
  • A breach of information technology systems could adversely affect our reputation, business partner and customer relationships and operations, and result in high costs.
  • We depend upon vendors and other sources of merchandise, goods and services outside the U.S.. Our business could be affected by disruptions in, or other legal, regulatory, political, economic or public health issues associated with, our supply network.
  • Parties with whom Macy's does business may be subject to insolvency risks or may otherwise become unable or unwilling to perform on their obligations to us.
  • Macy’s business is subject to unfavorable economic and political conditions, extreme violence and other related risks.
  • Our business could be affected by extreme weather conditions, natural disasters or regional or global health pandemics.
  • Inability to access capital markets could adversely affect our business or financial condition.
  • Factors beyond our control could affect Macy's stock price.
Management Discussion
  • •Comparable sales were down 21.0% on an owned basis; and down 20.2% on an owned plus licensed basis, reflecting continued stores recovery and continued growth of digital business.
  • •Digital sales grew 27% over third quarter 2019. Digital sales penetrated at 38% of total owned comparable sales.
  • •Gross margin of 35.6%, compared to 23.6% in the second quarter of 2020, an improvement of approximately 12 percentage points.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: acknowledged, addressing, AveragePrice, bad, clean, cleaning, clearance, cook, delinquency, develop, dine, Dollar, EBITDA, ensure, grew, healthy, hesitant, injunctive, learn, maximizing, medical, modestly, monetary, occupancy, Paidper, peak, Publicly, reimbursement, role, sanitization, SharesPurchased, showing, sooner, steady, TotalNumberof, urban
Removed: television, working