Macy’s appoints Thomas J. Edwards as COO and CFO

NEW YORK - Macy’s, Inc. (NYSE: M) has announced a reshuffle in its executive leadership, appointing Thomas J. Edwards as its new Chief Operating Officer and Chief Financial Officer, effective June 22nd. This move is part of the retailer’s strategy to stimulate profitable long-term growth. The appointment comes at a crucial time for Macy’s, which currently trades near its 52-week low of $12.48, significantly below its peak of $20.70. According to InvestingPro analysis, the stock appears slightly undervalued based on its Fair Value assessment.

Edwards, who currently serves as CFO and COO at Capri Holdings Limited, brings nearly four decades of experience in retail, consumer goods, and hospitality. His tenure at Capri Holdings was marked by significant achievements, including the acquisitions of Versace and Jimmy Choo, and the implementation of a global ERP platform. Prior to Capri, Edwards held executive roles at Brinker International, Inc., Wyndham Hotel Group, Kraft Foods, and Nabisco Food Service Company.

His appointment comes as a succession to Adrian Mitchell, who will depart Macy’s after serving as COO and CFO through June 21st, ensuring a smooth transition. Macy’s CEO Tony Spring expressed confidence in Edwards’ ability to drive the company’s "Bold New Chapter" strategy and strengthen the business for shareholder value. The company maintains strong financial fundamentals with a healthy current ratio of 1.43 and trades at an attractive P/E ratio of 6.08, though revenue declined 3.6% in the last twelve months.

In tandem with Edwards’ appointment, Barbie Cameron, Macy’s Chief Stores Officer, will start reporting directly to CEO Tony Spring from June 22nd, while Maly Bernstein, CEO of Bluemercury, will report to Bloomingdale’s CEO Olivier Bron starting May 1st. These changes aim to enhance leadership and promote growth across Macy’s, Bloomingdale’s, and Bluemercury.

The company has also reiterated its first quarter 2025 guidance issued on March 6, 2025, signaling stability in its financial outlook. InvestingPro subscribers have access to 16 additional exclusive insights about Macy’s, including detailed analysis of its financial health, valuation metrics, and growth prospects through comprehensive Pro Research Reports.

Macy’s, Inc., with its iconic nameplates Macy’s, Bloomingdale’s, and Bluemercury, remains a prominent player in the retail sector, boasting a strong digital presence and a nationwide footprint. The company’s strategic adjustments in leadership are designed to further bolster its position in the market. Notable for income investors, Macy’s offers a substantial 5.81% dividend yield and has maintained dividend payments for 23 consecutive years.

This announcement is based on a press release statement from Macy’s, Inc.

In other recent news, Macy’s has reported financial results and adjustments to its future outlook, drawing attention from several analyst firms. Macy’s fourth-quarter earnings per share (EPS) surpassed expectations at $1.80, compared to the anticipated $1.54, driven by factors such as better-than-expected Other Revenues and managed expenses. Despite this, the company experienced a 1.1% decline in comparable store sales, with forecasts for fiscal year 2025 indicating further potential declines. Analysts from firms like TD Cowen, Telsey Advisory Group, Citi, JPMorgan, and CFRA have responded by adjusting their price targets for Macy’s stock, with most setting it around $14 to $15.

TD Cowen and Citi both reduced their price targets to $14, maintaining a Hold and Neutral rating, respectively, while highlighting challenges such as macroeconomic uncertainties and competitive pressures. Telsey Advisory Group adjusted its price target to $15, maintaining a Market Perform rating, and noted the company’s strategic efforts, including store closures and expansion of luxury segments. JPMorgan downgraded Macy’s stock to Neutral, citing concerns over future earnings potential and setting a target of $14. CFRA also lowered its price target to $13, maintaining a Hold rating, and pointed to long-term challenges in the department store sector. These recent developments reflect the mixed performance and cautious outlook for Macy’s amid ongoing market pressures.

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