Macy's Inc · NYSE:M
Macy's — Q1 2020 Earnings Presentation
7 slides from Macy's's earnings presentation, May 21, 2020
Slide 1: First Quarter 2020 Preliminary Sales and Operating Performance
First Quarter 2020 Preliminary Sales and Operating Performance Jeff Gennette, Chairman & CEO | Paula Price, CFO MAY 21, 2020
Slide 2: Safe Harbor Statement
Safe Harbor Statement All forward-looking statements are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those in such stat
Slide 3: Q1 Preliminary Results
Q1 Preliminary Results 13 Weeks Ended 13 Weeks Ended May 2, 2020 May 4, 2019 ($ in millions) Estimated(1) Actual Income Statement Data Low High Net Sales $ 3,000 $ 3,030 $ 5,504 Operating Income / (Loss)* (1,110) (905) 203 As of May 2, 2020 As of May 4, 2019 Balance Sheet Data Estimated Actual Cash
Slide 4: Staggered Macy's Stores Reopening On Track
Staggered Macy’s Stores Reopening On Track Key states reactivated for May openings* ▪ Connecticut ▪ Florida 600 May 22nd ▪ Missouri ▪ Hawaii Reopening ▪ Virginia ▪ Minnesota 500 ▪ Pennsylvania 400 ▪ Arizona ▪ Ohio May 18th 300 ▪ Colorado ▪ Nevada reopening ▪ Florida 200 ▪ North Carolina 100 ▪ Florid
Slide 5: Curbside Pickup: Tested, Iterated and Scaled in Nine Weeks
Curbside Pickup: Tested, Iterated and Scaled in Nine Weeks Week 1* Week 3-5 First cross-functional Week 7 Initial launch meeting with Digital, Expansion to 98 in 3 stores Stores, Supply Chain stores Week 2 Week 6 Week 9 Decision to pursue Expansion to 17 Curbside pickup live curbside pilot stores in
Slide 6: Refocused Polaris Strategy Post-COVID
Continue Refocus Refocused Polaris Strategy Post-COVID Pause Accelerate 1 2 3 4 5 STRENGTHEN CURATE QUALITY ACCELERATE OPTIMIZE STORE RESET CUSTOMER FASHION DIGITAL GROWTH PORTFOLIO COST BASE RELATIONSHIPS Build profitable Drive Category Enhance digital Invest in best Right-size customer lifetime ro
Slide 7: CEO closing quote
“I am confident that we are taking the right steps to ensure that Macy’s, Inc. will emerge on the other side of this crisis a strong, resilient company and ready to serve our customers.” - Jeff Gennette Chairman & CEO 7