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NEW YORK - Macy’s (M), the iconic American department store with annual revenues of $23.37 billion, has broadened its partnership with NBCUniversal, securing a 10-year rights agreement to air its renowned Thanksgiving Day Parade and 4th of July Fireworks on NBC, Peacock, and Telemundo. This deal marks a significant expansion, aiming to leverage Macy’s growing content presence and enhance its holiday programming. According to InvestingPro analysis, Macy’s stands as a prominent player in the Broadline Retail industry, maintaining a robust 40.87% gross profit margin.
The agreement, announced Monday, extends beyond the traditional holiday broadcasts to include a parade-eve special and an additional program to be revealed later. Macy’s, known for its large-scale events, is set to continue delivering top-tier entertainment, featuring celebrity artists and performances that captivate global audiences. With the company’s next earnings report due on March 4, investors can access comprehensive analysis and 8 additional key insights through InvestingPro’s detailed research reports.
Macy’s Thanksgiving Day Parade, which will see its 99th procession this year, and Macy’s 4th of July Fireworks have become staple celebrations in the United States. The parade reached a historic viewership milestone in 2024, attracting 31.7 million viewers, an 11% increase from 2023, making it the most-watched parade ever and the top program of the holiday season. The fireworks display also saw consistent growth, drawing 7.6 million viewers for its 48th show. This success comes as Macy’s maintains its position as a reliable dividend payer, having maintained distributions for 22 consecutive years with a current yield of 4.64%.
Sharon Otterman, Macy’s Chief Marketing Officer, expressed enthusiasm about the expanded deal with NBCUniversal, highlighting the increased visibility for Macy’s and its content offerings. Jen Neal, Executive Vice President of Live Events & Specials at NBCUniversal Media Group, emphasized the importance of the partnership in delivering cherished holiday experiences to millions.
Macy’s, which has been broadcasting its Thanksgiving Day Parade on NBC since 1953, is preparing to celebrate its 100th parade in 2026. Similarly, the 4th of July Fireworks is set to commemorate its 50th anniversary in the same year.
This news article is based on a press release statement from Macy’s.
In other recent news, Macy’s Inc. (NYSE:M) has provided an update on its fiscal fourth quarter of 2024, projecting earnings per share to remain within the previously stated range of $1.40 to $1.65. However, the company anticipates net sales to be at or slightly below the low end of the projected $7.8 billion to $8.0 billion. Meanwhile, CFRA has raised its price target for Macy’s shares from $13.00 to $15.00, maintaining a Hold rating, while adjusting its earnings per share estimates for fiscal years 2025 and 2026. Macy’s reported a normalized third-quarter EPS of $0.04, aligning with consensus estimates, and revenues of $4.9 billion, slightly surpassing expectations by $24 million.
In another development, Macy’s has appointed Robert Chavez to its Board of Directors, effective April 1, 2025. Chavez, with extensive experience in the retail industry, previously served as President and CEO of Hermès Americas. Additionally, Macy’s announced plans to close 55 stores as part of its efficiency strategy, following a notable Q2 2024 earnings report where the company beat EPS forecasts with an adjusted EPS of $0.53 against a forecast of -$0.01. The company’s strategic initiatives, including the expansion of its "First 50" store initiative and digital enhancements, reflect its commitment to growth amidst a challenging retail environment.
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