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Macy's, Inc. (M) Management Presents at Morgan Stanley Virtual Global Consumer & Retail Conference Call (Transcript)

Dec. 02, 2021 12:10 PM ETMacy's, Inc. (M)1 Comment
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Macy's, Inc. (NYSE:M) Morgan Stanley Virtual Global Consumer & Retail Conference Call December 2, 2021 8:00 AM ET

Company Participants

Adrian Mitchell - Chief Financial Officer

Conference Call Participants

Kimberly Greenberger - Morgan Stanley

Kimberly Greenberger

Good morning, everyone. My name is Kimberly Greenberger and I'm the specialty softline, department store and branded apparel and footwear analyst here at Morgan Stanley. We're very pleased that you were able to join us today to kick off the final day of Morgan Stanley's Global Consumer Retail Conference. And we're equally delighted to welcome Macy's management with us today.

Macy's is the largest U.S. department store, generating approximately $17 billion in net sales in 2020 and nearly $25 billion in 2019 across over 700 store locations and e-commerce. The company operates the Macy's and Bloomingdale's banners as well as luxury beauty retailer, Bluemercury. Today, we're joined by Adrian Mitchell, Macy's Chief Financial Officer. Adrian joined Macy's in November of 2020 and brings a vast and varied retail experience to the company, additional strategic perspective and an operational track record to the senior leadership team at Macy's. He previously served as Managing Director and Partner at Boston Consulting Group, Chief Executive Officer of Arhaus and CFO and Interim CEO of Crate and Barrel. We're going to spend the session today in a fireside chat, question-and-answer style format, where we'll explore some of the investor questions that we've gotten most recently. And we've also reserved time to answer your questions. Lastly, before we begin, I need to remind you that for important disclosures, you can please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures.

And with that disclosure out of the way, Adrian, thank you again for being here and welcome to Morgan Stanley's final day of our retail conference.

Adrian Mitchell

Thank you

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Comments (1)

Everything looking strong for Macy's present and future but the stock is now lower than before they announced their great quarter.

I just do not understand why the stock is down especially after JWN and GAP disappointing reports. Can anyone explain this to me?
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