Executive Summary

• Macy’s recently announced a major restructuring that brings it one step close to a true omnichannel business model
• The retailer is making a more aggressive commitment to its MOM strategy –My Macy’s localization, Omnichannel integration and Magic Selling customer engagement
• One unified merchandising and marketing organization will support Macy’s entire business (versus today’s existing model of separate operations for store and online assortments)
• Plans call for redeploying a total of 2,200 associates, closing 14 stores and opening two new stores (in addition to the seven new stores already on deck)
• Management is also exploring opportunities for a Macy’s off-price business