Macy's Financial Statement

As expressed in Macy’s 2016 Annual Report, top management communicated that they anticipated that the conditions in the retail environment would be challenging due to shifts in consumer behavior and feel that 2017 would also follow the same behavioral patterns. Furthermore, they will implement a cost reducing strategy to increase market share, market growth and a better return to their shareholders. Macy’s has defined its vision is: “To operate Macy's and Bloomingdale's as dynamic national brands while focusing on the customer offering in each store location" (Macy’s Co. 2016). Their mission is: "Our goal is to be a retailer with the ability to see opportunity on the horizon and have a clear path for capitalizing on it. To do so, we are

With monetary 2016 sales of over $25 billion and around 140,000 representatives, the organization works more than 700 retail establishments under the brand names Macy's and Bloomingdale's, and an additional 125 specialty stores that incorporate Bloomingdale's The Outlet, Bluemercury and Macy's Backstage. They have stores in 45 states, the District of Columbia, Guam and Puerto Rico and also include their online websites macys.com, bloomingdales.com and bluemercury.com. Two of their competitors are Dillard’s and Neiman Marcus and they know the importance of being able to offer superior selections of products that their competitors do not have or cannot offer. They are well known as a retail industry pioneer in creating private brand stock that separates the collections in their stores and conveys remarkable incentive to the client. They stock for every private brand that is only available at Macy’s that is produced to interest a specific client way of life and is upheld with showcasing programs that make a decisively characterized picture of the company. Their brands have completely created marks and profiles that are focused on particular purchasers and are bolstered with national publicizing and marked in-store conditions (Macy’s Co.

Their business has lost needed revenue income the last few years because of the easiness of web based shopping. With the increasing competition from web based business it has quickened their decline; their decrease in revenue is essentially owing to the expanding number of significant players that have extended their item range to incorporate basic supplies, which moves their income to the big Warehouse Clubs and Supercenters industry with stores such as Costco and Walmart. This market trend is expected to stay the same throughout this year and for the next five years as well. Over the last five years, the company has improved its performance significantly by shifting from the negative sales growth phase to positive sales growth arena. They announced they would close over 67 in the next year and they will close another 30 stores that have leases that are up for renewals. This mix gives their clients the capacity to shop with us any way they need, whenever they choose to do so. They foresee that the testing conditions in retail will proceed and that buyer shopping practices will keep on shifting at times more quickly. As they continue to look further to the end of 2017, they foresee a slant in retail business that was exactly like 2016. We made critical moves in 2016 to refocus and propel the organization and they will proceed with these conclusive moves to