Q1 2021

Earnings Highlights

Exceeded expectations

Continued momentum

Raised full-year guidance,

on both the top and

as a digitally led

bolstered by improved

bottom lines

omnichannel retailer

macroeconomic trends

with 34% YoY digital

and strength of Polaris

sales growth

execution

FINANCIAL HIGHLIGHTS

$0.39

$473M

Adjusted EPS

Adjusted EBITDA

$0.32 Diluted EPS,

$454M EBITDA,

$0.05

Q1 2019 (adjusted)

5.8% Q1 2019 (adjusted)

38.6%

37.1%

Gross margin rate

SG&A rate

40 BPS Q1 2019

130 BPS Q1 2019

SALES HIGHLIGHTS

62.5% Comparable sales on an owned basis versus Q1 2020

$4.7B

(10.5%)

Comparable sales on an owned basis versus Q1 2019

Net sales

63.9% Comparable sales on an owned plus licensed basis versus Q1 2020

(10.0%)

Comparable sales on an owned plus licensed basis versus Q1 2019

34%

37

505

4%

17

60

%

M

%

%

Digital penetration

Approx. # of

Conversion rate*

Vendor direct %

Digital demand

Digital sales Q1 2020

of net sales

unique visitors*

9%

Q1 2019

of digital sales*

sales from

32% Q1 2019

22% Q1 2019

mobile devices*

Q2 2021FY 2021

GUIDANCE

$4.9B - $5.0B

$0.03 - $0.12

$21.73B - $22.23B

$1.71 - $2.12

Net sales

Adjusted diluted EPS

Net sales

Adjusted diluted EPS

"In our first quarter we outperformed sales expectations across all three of our brands: Macy's, Bloomingdale's and Bluemercury. We built on our momentum from the fourth quarter and our sales trend continued to improve throughout the first quarter. These results were driven by the positive effects of the government stimulus program and expanding vaccine rollout, coupled with the accelerated execution of our Polaris strategy, including investments in our digital platforms. Macy's remains a fashion and style source for customers as a digitally led omnichannel retailer. As consumers seek to re-engage with each other, we are seeing promising signs that our core customers are shopping again, and we continue to attract new customers who increasingly begin their shopping experience with us online. As we look to the rest of the year, we are hyper-focused on meeting consumers' demand for speed, convenience and a seamless omnichannel shopping experience. With a healthier economy and the reopening of communities as the backdrop to the execution of our Polaris strategy, we are well positioned to deliver sustainable, profitable growth in 2021 and the years beyond."

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 first quarter 2021 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 first quarter 2021 press release.

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Macy's Inc. published this content on 18 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 May 2021 11:06:00 UTC.