Corporate News Blog – Macy’s Appoints New Key Executives

Research Desk Line-up: Sears Post Earnings Coverage

LONDON, UK / ACCESSWIRE / June 5, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Macy’s, Inc. (NYSE: M). The Company announced on June 01, 2017, that Yasir Anwar has been appointed to the role of Executive Vice President and Chief Technology Officer, effective immediately. Under the new role, Anwar will monitor all technology functions for Macy’s Inc. He will drive the alignment of Company’s technology efforts with the growth strategy. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

http://protraderdaily.com/register/

Discover more of our free reports coverage from other companies within the Department Stores industry. Pro-TD has currently selected Sears Holdings Corporation (NASDAQ: SHLD) for due-diligence and potential coverage as the Company announced on May 25, 2017, its financial results for Q1 2017 which ended on April 29, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Sears when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on M; also brushing on SHLD. Go directly to your stock of interest and access today’s free coverage at:

http://protraderdaily.com/optin/?symbol=M

http://protraderdaily.com/optin/?symbol=SHLD

The Announcement

According to the report, Anwar will be responsible for the teams that build end-to-end ecommerce experience, enterprise shared services, field services, functional IT support, and infrastructure. Yasir Anwar joined Macy’s as Vice President, engineering in May 2012. Later, he was promoted to group Vice President, engineering in April 2014 and senior vice president, digital technology in April 2016. Anwar was appointed Chief Technology Officer in February 2017. Anwar is known as the founder of MacysLabs, where he introduced lean development practices and established lead delivery teams to transform the delivery model with a focus on experimentation and customer testing.

The Company additionally announced that Mike Robinson has been named Executive Vice President, product management and customer experience. Under this new role, Robinson will be responsible for managing all aspects of product management, portfolio, and user experiences for digital, store, and omnichannel systems. He will oversee a unified product and portfolio vision, enabling customers to shop seamlessly across all Macy’s channels.

Anwar’s Growth Strategy

Prior to his tenure at Macy’s, Anwar was the head of engineering at WalmartLabs, where he built next generation platforms for Walmart Global ecommerce. Additionally, Anwar was the head of engineering for Samsclub.com and led architecture for Walmart.com. Macy’s views this agreement as a step to maximize technology capabilities and continuing strong growth of its digital and mobile platforms. According to Jeff Gennette, Macy’s CEO, bringing the Company’s technology teams together under Yasir’s leadership will result in faster time to market and decision making through a streamlined IT organization that will create different platforms for continuous business transformation.

Macy’s Growth Prospects

Macy’s Inc., operates stores in 45 states, with around 140,000 employees. The Company operates more than 700 departmental stores under the nameplates of Macy’s and Bloomingdale’s and approximately 125 specialty stores including Bluemercury and Macy’s Backstage. Recently, on March 27, 2017, the Company signed an agreement with G-III Apparel Group, Ltd., under which Macy’s would serve, as the exclusive US department store for sales of DKNY women’s apparel and accessories, from February 2018.

Prior to the announcement, on March 01, 2017, Macy’s completed the sale of its downtown Minneapolis property located at 700 Nicollet Mall. Acquired by 601Companies, the firm plans to enable a major, mixed-use redevelopment of the building. This announcement was pursuant to the previously announced sale on January 04, 2017. The purchase price for the property was $59 million in cash. Macy’s recorded a net gain of $47 million for the property in Q1 FY17. The Company recently reported its Q1 FY17 results on May 11, 2017, under which it reported net operating income of $220 million for Q1 FY17 versus $276 million for Q1 FY16.

Last Close Stock Review

At the close of trading session on Friday, June 02, 2017, Macy’s stock price declined 1.12% to end the day at $23.81. A total volume of 6.79 million shares were exchanged during the session. The Company’s shares are trading at a PE ratio of 12.77 and have a dividend yield of 6.34%. The stock currently has a market cap of $7.35 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 464827