February 21, 2024

Michael M. Santiago

High-end retailers are often at a premium, despite the supply chain being difficult to manage. Among the companies trying to modernize their supply lines is Macy’s Inc. (NYSE: M). They will be the subject of

Cash and Equivalents $364 million
Inventories $6.0 billion
Total Current Assets $7.0 billion
Total Assets $18.1 billion
Total Current Liabilities $6.0 billion
Long-term Debt $3.0 billion
Shareholder Equity $4.1 billion
Current Ratio 1.17

2020 2021 2022 2023 (9 months)
Net Sales $17 billion $24 billion $24 billion $15 billion
Op Income ($4.4 billion) $2.3 billion $1.7 billion $453 million
Gross Margin 29.2% 38.9% 37.4% 40.3%
Diluted EPS ($2.21) $5.31 $4.48 63¢

2020 2021 2022 2023 (9 months)
FCF Operations $648 million $2.7 billion $1.6 billion $158 million
FCF Investing ($325 million) ($370 million) ($1.1 billion) ($716 million)
FCF Financing $699 million ($2.24 billion) ($1.3 billion) $60 million