Macy's Inc

Before the celebration, there is a moment. The anticipation. The planning. The choices that turn intention into action. That moment before is where Macy's lives. For everyday wins and once-in-a-lifetime milestones. From quiet preparations at home to celebrations that bring millions together. For generations, Macy's has shaped the moments people wait for. 100 parades. 50 years of fireworks. A legacy of showing up at the center of culture. And in 2026, celebration isn't just something we host, it's something we activate. Across stores, digital, and live experiences, Macy's becomes the platform where brands don't just appear, they participate. Because it all starts here. Before the celebration, there is a moment. The anticipation. The planning. The choices that turn intention into action. That moment before is where Macy's lives. For everyday wins and once-in-a-lifetime milestones. From quiet preparations at home to celebrations that bring millions together. For generations, Macy's has shaped the moments people wait for. 100 parades. 50 years of fireworks. A legacy of showing up at the center of culture. And in 2026, celebration isn't just something we host, it's something we activate. Across stores, digital, and live experiences, Macy's becomes the platform where brands don't just appear, they participate. Because it all starts here. Before the celebration, there is a moment. The anticipation. The planning. The choices that turn intention into action. That moment before is where Macy's lives. For everyday wins and once-in-a-lifetime milestones. From quiet preparations at home to celebrations that bring millions together. For generations, Macy's has shaped the moments people wait for. 100 parades. 50 years of fireworks. A legacy of showing up at the center of culture. And in 2026, celebration isn't just something we host, it's something we activate. Across stores, digital, and live experiences, Macy's becomes the platform where brands don't just appear, they participate. Because it all starts here. Before the celebration, there is a moment. The anticipation. The planning. The choices that turn intention into action. That moment before is where Macy's lives. For everyday wins and once-in-a-lifetime milestones. From quiet preparations at home to celebrations that bring millions together. For generations, Macy's has shaped the moments people wait for. 100 parades. 50 years of fireworks. A legacy of showing up at the center of culture. And in 2026, celebration isn't just something we host, it's something we activate. Across stores, digital, and live experiences, Macy's becomes the platform where brands don't just appear, they participate. Because it all starts here. Before the celebration, there is a moment. The anticipation. The planning. The choices that turn intention into action. That moment before is where Macy's lives. For everyday wins and once-in-a-lifetime milestones. From quiet preparations at home to celebrations that bring millions together. For generations, Macy's has shaped the moments people wait for. 100 parades. 50 years of fireworks. A legacy of showing up at the center of culture. And in 2026, celebration isn't just something we host, it's something we activate. Across stores, digital, and live experiences, Macy's becomes the platform where brands don't just appear, they participate. Because it all starts here. Before the celebration, there is a moment. The anticipation. The planning. The choices that turn intention into action. That moment before is where Macy's lives. For everyday wins and once-in-a-lifetime milestones. From quiet preparations at home to celebrations that bring millions together. For generations, Macy's has shaped the moments people wait for. 100 parades. 50 years of fireworks a legacy of showing up at the center of culture and in 2026 celebration isn't just something we host it's something we activate across stores digital and live experiences macy's becomes the platform where brands don't just appear they participate because it all starts here For generations, Macy's has shaped the moments people wait for. 100 parades. 50 years of fireworks. A legacy of showing up at the center of culture. And in 2026, celebration isn't just something we host, it's something we activate. Across stores, digital, and live experiences, Macy's becomes the platform where brands don't just appear, they participate. Because it all starts here. Before the celebration, there is a moment. The anticipation. The planning. The choices that turn intention into action. That moment before is where Macy's lives. For everyday wins and once-in-a-lifetime milestones. From quiet preparations at home to celebrations that bring millions together. For generations, Macy's has shaped the moments people wait for. 100 parades. 50 years of fireworks. A legacy of showing up at the center of culture. And in 2026, celebration isn't just something we host, it's something we activate. Across stores, digital, and live experiences, Macy's becomes the platform where brands don't just appear, they participate. Because it all starts here. Before the celebration, there is a moment. The anticipation. The planning. The choices that turn intention into action. That moment before is where Macy's lives. For everyday wins and once-in-a-lifetime milestones. From quiet preparations at home to celebrations that bring millions together. For generations, Macy's has shaped the moments people wait for. 100 parades. 50 years of fireworks. A legacy of showing up at the center of culture. And in 2026, celebration isn't just something we host, it's something we activate. Across stores, digital, and live experiences, Macy's becomes the platform where brands don't just appear, they participate. Because it all starts here. Before the celebration, there is a moment. The anticipation. The planning. The choices that turn intention into action. That moment before is where Macy's lives. For everyday wins and once-in-a-lifetime milestones. From quiet preparations at home to celebrations that bring millions together. For generations, Macy's has shaped the moments people wait for. 100 parades. 50 years of fireworks. A legacy of showing up at the center of culture. And in 2026, celebration isn't just something we host, it's something we activate. Across stores, digital, and live experiences, Macy's becomes the platform where brands don't just appear, they participate. Because it all starts here. Before the celebration, there is a moment. The anticipation. The planning. The choices that turn intention into action. That moment before is where Macy's lives. For everyday wins and once-in-a-lifetime milestones. From quiet preparations at home to celebrations that bring millions together. For generations, Macy's has shaped the moments people wait for. 100 parades. 50 years of fireworks a legacy of showing up at the center of culture and in 2026 celebration isn't just something we host it's something we activate across stores digital and live experiences macy's becomes the platform where brands don't just appear they participate because it all starts here Thank you for watching.

Greetings and welcome to the Macy's Inc. first quarter 2026 earnings call. At this time, all participants are on a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the call over to Pamela Quintiliano, VP of Investor Relations. Pamela, please go ahead.

Thank you, Operator. Good morning, everyone, and thanks for joining us. With me on the call today are Tony Spring, our Chairman and CEO, and Tom Edwards, our COO and CFO. Along with our first quarter 2026 press release, a Form 8K has been filed with the Securities and Exchange Commission, and a presentation has been posted on the investor section of our website, Macy'sInc.com, and it's being displayed live during today's webcast. Unless otherwise noted, the comparisons we provide will be versus 2025. All references to our prior expectations, outlook, or guidance refer to information provided on our March 18th earnings call. On today's call, we will refer to certain non-GAAP financial measures. Reconciliations of these measures can be found in our earnings presentation and SEC filings available at www.macyzinc.com forward slash investors forward slash. All references to comp sales throughout today's prepared remarks represent comparable owned plus licensed plus marketplace sales unless otherwise noted. All reported nameplate comp sales results are on a go-forward basis. Go-forward Macy's Inc. comp sales include the approximately 350 Macy's go-forward locations in digital and Bloomingdale's and Blue Mercury nameplates inclusive of stores in digital. Go Forward Macy's nameplate comp sales include the approximately 350 Macy's Go Forward locations and Macy's digital. Go Forward Bloomingdale's and Go Forward Blue Mercury comp sales include all store locations and digital. As a reminder, on February 18th, we announced an update to our non-GAAP financial disclosures, the details of which are available in a Form 8K. These changes do not impact our historical or future GAAP metrics and disclosures. The updated disclosures, which encompass comparable sales, OLM dollar sales, revenues, and non-GAAP earnings, are intended to both simplify disclosures and provide increased clarity on the key metrics that support our growth profile and go-forward operating performance. Beginning this quarter, adjusted earnings metrics reflect our new non-GAAP metrics. All forward-looking statements are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the expectations and assumptions mentioned today. A detailed discussion of these factors and uncertainties is contained in our filings with the SEC. Today's call is being webcast on our website. A replay will be available approximately two hours after the conclusion of this call. With that, I'll turn it over to Tony.