Macy's, Inc. (M) Presents at J.P. Morgan 9th Annual Retail Round-Up Conference (Transcript)

Macy's, Inc. (NYSE:M) J.P. Morgan 9th Annual Retail Round-Up Conference March 30, 2023 8:00 AM ET

Company Participants

Jeff Gennette - Chief Executive Officer
Adrian Mitchell - Chief Financial Officer

Conference Call Participants

Matt Boss - J.P. Morgan

Matt Boss

Okay, we can get started. So, good morning. It's Matt Boss, Department Stores & Specialty Softlines, here at J.P. Morgan. To kick off day two of the Retail Round-up, really happy to have a staple at the conference since the day we started it, this is our ninth year, the team from Macy's, we have CEO Jeff Gennette; and now newly appointed COO and CFO, Adrian Mitchell. So, look, I don't even know where to start in terms of some of the news from yesterday. But first of all, thank you for joining.

Jeff Gennette

Thanks, Matt. Let me just open with, obviously, we had a series of announcements yesterday. So, I have been working with the Board for the past couple of years on what the right time and who the right candidates are to take and pass the baton on for the leadership of Macy's Inc. And I think one of the things that we looked at was when is the right time, where's the strategy, where's the talent of the organization. I think what you can always depend on with Macy's Inc. are smooth transitions. And I had the advantage of going through the President role, having a 10-month window when I was CEO-elect. That was kind of important to me to make sure that we were able to establish that for not only our own organization, but for the industry at large.

So, getting to where we are right now as an organization and looking at where our financial stability is, where we are with our operational efficiencies, and