NEW YORK - Macy's, Inc. (NYSE: M) is set to bolster its workforce with more than 31,500 seasonal positions across its portfolio, which includes Macy's, Bloomingdale's, and Bluemercury stores, as well as its distribution centers. The retail giant aims to support customer demand during the upcoming holiday season with a mix of full- and part-time roles.
The company has streamlined the hiring process, providing an online application that can be completed in approximately five minutes, with the majority of job offers being made within two days. Macy's Inc. (NYSE:M) is also organizing four nationwide in-person hiring events, with the first scheduled for Thursday, September 26, and subsequent events on October 24, November 21, and December 4.
Danielle Kirgan, Chief Human Resources and Corporate Affairs Officer at Macy’s, Inc., expressed enthusiasm for the new hires, stating they will play a crucial role in delivering memorable customer experiences as part of the company's "Bold New Chapter" strategy. She highlighted that the positions offer competitive pay and a chance for candidates to either earn additional income during the holidays or embark on a retail career.
Job seekers can apply through the company’s brand career sites or in person during the hiring events at any Macy's, Bloomingdale's, or Bluemercury location. Supply chain positions are also available, with applications accepted online or at special events held at various distribution centers.
The announcement points to an increased focus on customer service and operations efficiency in preparation for the holiday shopping season. Macy's, Inc. emphasizes its culture of fostering strong team relationships and providing opportunities for colleague development, including reskilling, upskilling, and leadership development.
Moreover, the company underlines its commitment to colleague well-being through a comprehensive rewards strategy, including healthcare benefits, an employee discount, earned wage access, and financial literacy resources.
The hiring initiative indicates Macy's, Inc.'s preparation for the expected surge in holiday shopping, and the company's efforts to ensure a robust and well-equipped workforce to meet customer needs. This news is based on a press release statement from Macy's, Inc.
In other recent news, Macy's Inc. has successfully completed the early tender phase of its cash tender offer, aiming to purchase up to $220 million in aggregate principal amount of certain outstanding debt securities. The company has also launched a contemporary menswear brand, Mode of One, following a two-year development process. Additionally, Macy's Inc. declared a regular quarterly dividend of 17.37 cents per share.
The company's second quarter of 2024 financial report showed mixed results. Despite a 1% increase in comp sales at top-performing stores and an expansion in gross margin, Macy's Inc. reported a 3.8% decline in net sales and a 3.3% decline in overall comps. The luxury segments, Bloomingdale's and Bluemercury, however, reported better-than-expected sales.
Macy's Inc. also revealed plans to close approximately 55 stores this year, shifting focus towards more profitable locations. The company's full-year net sales are expected to range between $22.1 billion and $22.4 billion, with adjusted diluted EPS for the third quarter projected to range from a loss of $0.04 to earnings of $0.01. In line with its growth strategy, Macy's intends to open 100 more stores in the shoe and handbag categories. These recent developments reflect Macy's commitment to navigate current retail challenges and strive for sustainable, profitable growth.
InvestingPro Insights
As Macy's, Inc. (NYSE: M) gears up for the holiday season with significant hiring plans, investors and stakeholders may be keen to understand the financial health and market position of the company. According to recent data from InvestingPro, Macy's has a market capitalization of $4.26 billion, reflecting its substantial presence in the retail sector. The company's P/E ratio stands at 23.04, which may suggest investor confidence in its earnings potential.
InvestingPro Tips highlight that Macy's is a prominent player in the Broadline Retail industry, which aligns with its strategy to expand its workforce for the holiday rush. This expansion could be supported by the company's solid financial footing, as indicated by its gross profit margin of 41.03% over the last twelve months as of Q2 2025. Additionally, Macy's has maintained dividend payments for 22 consecutive years, offering a notable dividend yield of 4.6% as of the end of 2024. This consistent return to shareholders may be appealing to those looking for steady income streams.
However, it's important to note that the stock price has experienced significant volatility, with a 6-month price total return of -28.31% as of the end of 2024. This could indicate a level of risk that interested parties should be aware of. For those considering an investment in Macy's, there are 7 additional InvestingPro Tips available, which can provide deeper insights into the company's performance and prospects. To explore these tips, you can visit: https://www.investing.com/pro/M.
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