Macy's Inc., which changed its name from Federated Department Stores Inc. in 2007, operates department stores under the names Macy's and Bloomingdale's. The company has offices in Cincinnati and New York. The full company operated 789 stores including outlets, 162 Bluemercury makeup stores, and 35 Bloomingdale's department stores at the end of 4Q21. The company closed about 48 stores in FY21. Sales in FY20 totaled $24.6 billion but dropped to $17.3 billion in FY21. Approximately 42% of sales come from feminine apparel, accessories, shoes and cosmetics. The men's and children's businesses represent a combined 22% of sales, and home/miscellaneous about 22%. The company's fiscal year ends on the Saturday closest to January 31.
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Chris Graja, CFASenior Analyst: Retail