Macy : Third Quarter 2024 Presentation

M

3Q24 Earnings

December 11, 2024

3Q24 Macy's, Inc.

Performance Highlights

$4.7B

39.6%

Net sales

Gross margin rate1,3

42.1%

$0.04

SG&A expense rate2

Adjusted Diluted Earnings

Per Share (EPS)3

1 % of net sales. 2 % of total revenue.

3 Includes adjustment for delivery expense of $13M, ~30 bps, and $0.04, respectively.4 Macy's First 50 locations comparable owned-plus-licensed (O+L) sales, Bloomingdale's comparable owned-plus-licensed-plus-marketplace (O+L+M) sales, Bluemercury comparable owned sales.

3Q24 Macy's, Inc. 3

A Bold New Chapter

Challenging the status quo to fundamentally reposition the company, enhance the customer experience, deliver growth and unlock shareholder value.

Strengthen

Accelerate

Simplify & Modernize

Macy's Nameplate

Luxury Growth

End-to-End Operations

A Bold New Chapter 4

Strengthen

Macy's Nameplate

Strengthen Macy's Nameplate

First 50 Locations

+1.9% +400bps

Comparable O+L sales vs. 3Q23, +410 bps vs. Macy's nameplate

+600 bps

First 50 NPS year-over-year improvement, third consecutive quarter of improvement

+700bps

Women's shoes sales1 year-over- year outperformance vs. locations without staffing investments

Handbags sales1 year-over-year outperformance vs. locations without staffing investments

Strengthen Macy's Nameplate 6

1 Additional ~100 locations that received women's shoes and/or handbag staffing investments.

Strengthen Macy's Nameplate

3Q24 Performance

-2.2%

Macy's comparable owned- plus-licensed-plus- marketplace (O+L+M) sales vs. 3Q23

+230bps

NPS year-over-year improvement, achieved highest score ever

Strengthen Macy's Nameplate 7

Accelerate

Luxury Growth

Accelerate Luxury Growth

Bloomingdale's

+3.2%

~2B

Comparable O+L+M sales1

From Italy, With Love

vs. 3Q23

campaign media impressions

• Return to positive comps driven by women's advanced

contemporary apparel, beauty and digital.

• Added new brands, including SKIMS and Jenni Kayne.

• Handbag category improvement with strength in Tory

Burch, Coach, Longchamp and Rebag launch.

• Home category remained pressured.

• NPS increased 70 bps year-over-year, delivering its highest

historical score.

• From Italy, With Love campaign was a strong traffic driver.

• Fourth Bloomie's location opened 11/14 in Shrewsbury, NJ.

9

Accelerate Luxury Growth

1Excludes one Non-Go-Forward location.

Accelerate Luxury Growth

Bluemercury

+3.3%

15th

Comparable owned sales

Consecutive quarter of

vs. 3Q23

comparable sales growth

Accelerate Luxury Growth

10

Disclaimer

Macy's Inc. published this content on December 11, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on December 11, 2024 at 11:58:02.521.