Macy’s, Inc. and subsidiaries, an omnichannel retail company, operate stores and Internet Websites. As of February 1, 2014, the operations of the company included approximately 840 stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names ‘Macy’s’ and ‘Bloomingdale’s’, as well as macys.com and bloomingdales.com. The company operates 13 Bloomingdale’s Outlet stores. Bloomingdale's in Dubai, the United Arab Emirates is operated under a license agreement with Al Tayer Insignia, a company of Al Tayer Group, LLC. The company sells a range of merchandise, including apparel and accessories (men’s, women’s, and children’s), cosmetics, home furnishings, and other consumer goods. In 2013, the company’s subsidiaries provided various support functions to the company’s retail operations on an integrated, company-wide basis. The company’s bank subsidiary, FDS Bank, provides credit processing, certain collections, customer service, and credit marketing services in respect of all proprietary and non-proprietary credit card accounts that are owned either by Department Stores National Bank, a subsidiary of Citibank, N.A., or FDS Bank and that constitute a part of the credit programs of the company’s retail operations. Macy’s Systems and Technology, Inc., a wholly-owned indirect subsidiary of the company, provides operational electronic data processing and management information services to all of the company’s operations. Macy’s Merchandising Group, Inc. (MMG), a wholly-owned direct subsidiary of the company, and its subsidiary, Macy's Merchandising Group International, LLC, is responsible for the design, development, and marketing of the company’s private label brands and certain licensed brands. Bloomingdale’s uses MMG for a portion of its private label merchandise. MMG also offers its services, either directly or indirectly, to unrelated third parties. The principal private label brands offered by the company include Alfani, American Rag, Aqua, Bar III, Charter Club, Club Room, Epic Threads, first impressions, Giani Bernini, greendog, Greg Norman for Tasso Elba, Home Design, Hotel Collection, Hudson Park, Ideology, I-N-C, jenni by jennifer moore, JM Collection, John Ashford, Karen Scott, Maison Jules, Martha Stewart Collection, Material Girl, Morgan Taylor, so jenni by jennifer moore, Studio Silver, Style & Co., Style & Co. Sport, Sutton Studio, Tasso Elba, the cellar, Tools of the Trade, and Via Europa. The trademarks associated with all of the foregoing brands, other than American Rag, Greg Norman for Tasso Elba, Martha Stewart Collection, and Material Girl are owned by the company. The American Rag, Greg Norman, Martha Stewart Collection, and Material Girl brands are owned by third parties, which license the trademarks associated with such brands to the company’s pursuant to agreements, which have renewal rights that extend through 2050, 2020, 2027, and 2030, respectively. Macy’s Logistics and Operations, a division of a wholly-owned indirect subsidiary of the company, provides warehousing and merchandise distribution services for the company’s operations. Seasonality The retail business is seasonal in nature with a high proportion of sales and operating income generated in the months of November and December. Working capital requirements fluctuate during the year, increasing in mid-summer in anticipation of the fall merchandising season and increasing prior to the holiday season when the company must carry higher inventory levels. Competition The company competes with Amazon, Bed Bath & Beyond, Belk, Bon Ton, Burlington Coat Factory, Dillard’s, Gap, J.C. Penney, Kohl’s, L Brands, Lord & Taylor, Neiman Marcus, Nordstrom, Ross Stores, Saks, Sears, Target, TJ Maxx, and Wal-Mart. History Macy’s, Inc. was founded in 1830.
macy's inc (FDO:Munich Stock Exchange)
7 West Seventh Street
Cincinnati, OH 45202
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