Q4 and FY2021
Earnings Highlights
Net sales and earnings
Macy’s brand added 7.2
exceed expectations for
million new customers,
the quarter and full-year
11% increase over Q4
year
2019
Generated $2.7 billion in Operating Cash Flow and $2.3 billion in Free Cash Flow in FY 2021
New $2 billion share repurchase program authorized after completing current $500 million program
FINANCIAL HIGHLIGHTS
$2.45
$1.25B
Adjusted Diluted EPS
Adjusted EBITDA
$2.44 Diluted EPS,
$1.23B EBITDA,
$0.33 Q4 2019 (adjusted)
$87M Q4 2019 (adjusted)
36.5%
28.0%
Gross margin rate
SG&A rate
30 BPS Q4 2019
210 BPS Q4 2019
SALES HIGHLIGHTS
28.3% Comparable sales on an owned basis versus Q4 2020
$8.7B
6.6%
Comparable sales on an owned basis versus Q4 2019
Net sales
27.8% Comparable sales on an owned plus licensed basis versus Q4 2020
6.1%
Comparable sales on an owned plus licensed basis versus Q4 2019
36%
M
4.47%
%
%
%
39
813
19
63
Digital penetration
Approx. # of
Conversion rate*
Vendor direct
Digital demand
Digital sales Q4 2019
of net sales
unique visits*
9% Q4 2019
%
of digital
sales from
12% Q4 2020
9 ppts Q4 2019
11%
Q4 2019
sales*
mobile devices*
CAPITAL
$2.3B
$1.6B
1.8X
$90M
$500M
$2.0B
FCF generated in Repaid debt early Leverage Ratio, well
Dividends paid to
Shares repurchased New authorized share
ALLOCATION
FY2021
in FY2021
below initial 2.5x
shareholders in FY during FY2021
repurchase program
target
2021
FY 2022
GUIDANCE
Flat to +1%
1.1% to 1.4%
11.0% to 11.5%
$4.13 to $4.52
Net Sales growth vs. 2021
O+L Comp Sales CAGR
Adj. EBITDA as a % of sales
Adjusted diluted EPS
from 2019
“Our results in the fourth quarter delivered a strong end to a solid year. I am proud that Macy’s, Inc. outperformed expectations on both the top and bottom lines every quarter in 2021, despite COVID-19 related disruptions, supply chain issues, labor shortages and elevated inflation. Our business has momentum and is serving more customers at more touchpoints in their shopping journey . Our team began the large-scale work of transforming Macy’s, Inc. two years ago when we launched the Polaris strategy, and today we believe the evidence is clear – our business is stronger, more agile, and financially healthier. We are more digitally led and customer centric and believe we are better positioned for long-term sustainable and profitable growth. Thanks to the hard work of our colleagues, successful execution of Polaris, and the strategic allocation of our capital, we believe we are well- positioned to successfully navigate the macro-economic headwinds we expect in 2022.”
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 fourth quarter and full-year 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 fourth quarter and full-year 2021 press release.
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Macy’s Inc. published this content on 22 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2022 12:21:07 UTC.

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