Macy's, Inc. elected Paul C. Varga as director for a one-year term expiring at the 2014 annual meeting of Macy's shareholders.

Macy's, Inc. announced that it will close its downtown St. Louis store in the Railway Exchange Building at 601 Olive St. A final clearance sale will begin on June 2, 2013 and is expected to run for approximately 10 weeks. The store, opened in 1924, currently includes about 189,000 square feet of space with a workforce of 94 associates. The company is committed to treating these affected associates with respect and openness. Associates displaced by the closings may be offered positions in nearby stores and facilities where possible. Eligible full-time and part-time associates who are laid off due to the store closing will be offered severance benefits.

Macy's, Inc. board of directors has authorized an increase in the quarterly dividend on the company's common stock to 25 cents per share from the current 20 cents per share. The new dividend will be payable July 1, 2013, to shareholders of record at the close of business on June 14, 2013. On May 10, 2013, the company entered into a new $1.5 billion, five-year Credit Agreement that will mature on May 10, 2018. It replaces a previous $1.5 billion facility maturing in June 2015.