Macy : Infographic Q2 2022

Q2 2022

Earnings Highlights

Quarterly net	Comparable	Diluted EPS of	Lowers full-year
sales and	sales down 1.5%	$0.99 and	sales and EPS
earnings	on an owned	Adjusted diluted	guidance to
exceeded	basis and down	EPS of $1.00	incorporate risks
expectations	1.6% on an		related to increased
	owned-plus-		macroeconomic
	licensed basis		pressures

FINANCIAL HIGHLIGHTS

$1.00	$616 M
Adjusted Diluted EPS	Adjusted EBITDA
$0.99 Diluted EPS,	$614M EBITDA,
$0.29 Q2 2021 (adjusted)	$220M Q2 2021 (adjusted)
38.9%	35.4%
Gross margin rate	SG&A rate
170 BPS	Q2 2021	180 BPS Q2 2021
Inventory	7% Q2 2021

SALES HIGHLIGHTS

$5.6B	(1.5%)
(1.6%)
Net sales

Comparable sales on an owned basis versus Q2 2021

Comparable sales on an owned plus licensed basis versus Q2 2021

(5%)

%

M

4.2%

%

%

30

462

23

64

Digital penetration

Approx. # of unique

Conversion rate*

Digital Sales

Digital demand

Digital sales Q2 2021

of net sales

visits*

3%

Q2 2021

Fulfilled by

sales from

37%

Q2 2019

2 ppts

Q2 2021

5%

Q2 2021

14%

Q2 2019

Stores*

mobile devices*

8 ppts

Q2 2019

8%

Q2 2019

$87M

$1.4B

• Focused on using cash to invest in high-return opportunities that will

CAPITAL

accelerate the benefits of our Polaris strategy, even with the economic

Dividends paid to

Remaining on the

uncertainties that exist right now.

ALLOCATION

shareholders YTD

share repurchase

• While investing in capabilities, the company has and will continue to prioritize

authorization

liquidity and balance sheet strength in order to maintain the flexibility and

ability to respond quickly to a variety of opportunities as they arise.

FY 2022

GUIDANCE

$24.3B to $24.6B

~ 10.5%

$4.00 to $4.20

Net Sales

Adj. EBITDA as a % of sales

Adjusted diluted EPS

Decreased $120M

Down 100 bps from prior midpoint

Midpoint down $0.64

"During the second quarter, we delivered solid results, despite the challenging environment. Our teams have consistently responded to the dynamic landscape with disciplined, data-driven actions to ensure the health and stability of our business. We believe that we are well positioned to respond to changing consumer behaviors. Despite inflationary pressures, consumers continued to shop Macy's as a style source and leading gifting destination. Additionally, Bloomingdale's and Bluemercury captured demand for luxury brands, resulting in both nameplates outperforming in the quarter Over the past two years, our Polaris strategy has made us faster and more agile, which has been essential to navigate rapidly changing consumer trends and macro conditions. We expect to come out of this uncertain period in a strong position with a healthy balance sheet, new capabilities and a talented team ready to capture renewed demand."

Jeff Gennette | Macy's chairman & chief executive officer

*Figures above reflect Macys.com only.

Any forward-looking statements made in this infographic are subject to the safe harbor statement found in Macy's SEC filings and press releases. The Company's second quarter 2022 earnings release and related financial information are available on its website, www.macysinc.com. Also available on the website is an investor presentation. This infographic includes non-GAAP financial measures that exclude the impact of certain financial statement items as described in the second quarter 2022 press release.