Macy's Inc (NYSE:M)

$ 19.35 -0.1 (-0.51%) Market Cap: 5.32 Bil Enterprise Value: 10.27 Bil PE Ratio: 52.30 PB Ratio: 1.28 GF Score: 74/100

Macy's Inc at Bank of America Merrill Lynch Consumer & Retail Technology Conference Transcript

Mar 12, 2019 / 12:00PM GMT

Release Date Price: $23.82 (+1.06%)

Transcript

Jeffrey Gennette;s

Macy;Inc. - Chairman & CEO

' -

Thank you, Lorraine. So good morning, everybody. So it's an exciting time to be in retail, certainly at Macy's. We were a -- we are a stronger company than we were a year ago with healthier stores, a growing e-commerce business and a mobile experience that is resonating with our customers. We are also a more agile and flexible organization. There's 3 headlines I want you to take away from today. First, we have a clear path to sustainable sales growth that are rooted in our strategic initiatives, we have a clear line of sight into profitability growth, and we have a very flexible and durable balance sheet.

So 2018 was a productive year for Macy's, Inc., as we changed the trajectory of the company. We delivered a 2% comp store increase for 2018, which was our first full year of positive growth in 4 years. And all 3 of the brands of Macy's, Inc.; Macy's, Bloomingdale's and Bluemercury performed well. As you've heard throughout the year, each of our 5 strategic initiatives, which were Loyalty, Backstage, Vendor Direct,

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