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|Macy's, Inc. Board Declares Quarterly Dividend|
Company Announces Resumption of Monthly Sales Reporting and Timing of Quarterly Conference Call
CINCINNATI--(BUSINESS WIRE)--Oct. 24, 2008--The board of directors of Macy's, Inc. (NYSE:M) today declared a regular quarterly dividend of 13.25 cents per share on Macy's common stock, payable January 2, 2009, to shareholders of record at the close of business on December 15, 2008.
Separately, the company announced it will temporarily reinstate monthly reporting of its sales data, beginning on November 6, 2008, for October sales and continuing until further notice. "We want to provide investors as much information and transparency as possible," said Terry J. Lundgren, Macy's, Inc. chairman, president and chief executive office. "While we continue to believe that sales on a monthly basis are an incomplete and sometimes misleading measure of a retailer's performance, we will again provide this information so investors have a sense of the direction of our business on a more frequent basis through this uncertain time."
Macy's, Inc. is scheduled to report its third quarter 2008 earnings on Wednesday, November 12, 2008, and will Webcast a call with financial analysts that day at 10:30 a.m. ET. The Webcast is accessible to the media and general public either via the company's Web site at www.macysinc.com or by calling in on 1-888-684-1262 (913-312-0975 for international callers), passcode 5642242.
Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2007 sales of $26.3 billion. The company operates more than 850 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's. The company also operates macys.com, bloomingdales.com and Bloomingdale's By Mail. Prior to June 1, 2007, Macy's, Inc. was known as Federated Department Stores, Inc.
(NOTE: Additional information on Macy's, Inc., including past news releases, is available at www.macysinc.com/pressroom)
CONTACT: Macy's, Inc. Media - Jim Sluzewski, 513-579-7764 Investor - Susan Robinson, 513-579-7780 SOURCE: Macy's, Inc.