Macy's Inc · NYSE:M
Macy's — Corporate Update (April 2020)
14 slides from Macy's's corporate update, Apr 30, 2020
Slide 1: COVID-19 Business Update
COVID-19 BUSINESS UPDATE Jeff Gennette, Chairman & CEO | Paula Price, CFO APRIL 30, 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: Preliminary View of Store Level Sequencing and Format
PRELIMINARY VIEW OF STORE LEVEL SEQUENCING AND FORMAT STEP 1 STEP 2 STEP 3 Identify initial view Identify how to open Refine store re-openings on store sequencing each store profitably based on recovery trajectory ▪ Develop view on store reopening ▪ Analyze each store’s expected ▪ Refine store openi
Slide 4: Projected Store Reopening Trajectory
PROJECTED STORE REOPENING TRAJECTORY 600 500 400 Store Count 300 200 100 0 Early May Mid-May Early June Mid-June Graph shown above for representation purposes only 4
Slide 5: For a Store to Reopen, It Must Meet the Following Requirements
FOR A STORE TO REOPEN, IT MUST MEET THE FOLLOWING REQUIREMENTS • Relevant state retail ordinances have been lifted for reopening retail • Health and safety minimum standards are in place in the stores, with a goal of exceeding those standards when possible • Sneeze guards installed • Sanitation supp
Slide 6: Health & Safety Standards
HEALTH & SAFETY STANDARDS Prior to a store’s reopening, colleagues will go through additional training on health and safety standards. COLLEAGUE SAFETY • Perform wellness checks • Provide safety equipment • Require protective wear CUSTOMER SAFETY • Enforce social distancing as the new norm • Reduce
Slide 7: Enhanced Training and Protocols
ENHANCED TRAINING AND PROTOCOLS Prior to a store’s reopening, Macy’s colleagues will go through additional training on health and safety standards for our locations. There are three main focus areas: Customer Safety, Colleague Safety, and Store Environment Safety 7
Slide 8: Customer Safety
CUSTOMER SAFETY SOCIAL DISTANCING REDUCED TOUCHPOINTS SANITATION STATIONS Social distancing guidelines will be Some selling experiences, such as Sanitizer depots will be installed in visible throughout the store. Key Beauty services, Fine Jewelry, and frequently visited locations throughout the remi
Slide 9: Signage
SIGNAGE Social distancing will be the norm in all locations for the foreseeable future. Customers and colleagues will be regularly reminded of safety practices – both visually and with frequent overhead reminders. 9
Slide 10: Signage
SIGNAGE We are creating an environment that enables our customers and colleagues to shop and work with safety, confidence and peace of mind. Our customers and colleagues will have new safety expectations when shopping or working in our buildings. 10
Slide 11: Colleague Safety
COLLEAGUE SAFETY WELLNESS CHECKS PROTECTIVE WEAR Store colleagues will be asked to Store colleagues will be provided complete wellness checks before with company-issued cloth masks to reporting to work. wear at all times. The wellness check policy applies Colleagues processing multiple to all collea
Slide 12: Store Environment Safety
STORE ENVIRONMENT SAFETY ENHANCED ENHANCED WORKSTATION CLEANING HOUSEKEEPING New cleaning practices for colleagues Frequently visited locations will be will be implemented around frequently cleaned more regularly and visibly. touched areas like signature pads and This includes elevators, escalators,
Slide 13: Beauty
BEAUTY NO TOUCH APPROACH TESTERS AND GONDOLAS Macy's Beauty will be temporarily These will be for customer viewing offering No Touch consultations only — customers should not touch and suspending all customer testers. Beauty colleagues may only applications and spa-like use testers on face charts us
Slide 14: Additional Services
ADDITIONAL SERVICES INTIMATE APPAREL JEWELRY We have temporarily All customers must use paused bra-fitting services hand sanitizer prior to trying in stores. on jewelry or watches. EAR PIERCING ALTERATIONS Macy's has temporarily We have temporarily suspended ear piercing suspending alteration servic