2011_fact_book

DEVELOPING A CULTURE

OF GROWTH

MACY’S, INC.

FACT BOOK 2011

2 | Macy’s, Inc.

QUARTERLY RESULTS

Fiscal 2011 Three Months 2011 Earnings 10Q/10K Ended Release Dates SEC Filing

4/30/11 5/11/11 6/6/11

7/30/11 8/10/11 9/6/11

10/29/11 11/9/11 12/5/11

1/28/12 2/21/12 3/28/12

Fiscal 2012 Three Months 2012 Earnings 10Q/10K Ended Release Dates SEC Filing

4/28/12 5/9/12 6/4/12

7/28/12 8/8/12 9/4/12

10/27/12 11/7/12 12/3/12

2/2/13 2/26/13 4/3/13

MONTHLY SALES ANNOUNCEMENTS

Fiscal 2011 Fiscal 2012 Sales SalesMonth Release Dates Release Dates

February 3/3/11 3/1/12

March 4/7/11 4/5/12

April 5/5/11 5/3/12

May 6/2/11 5/31/12

June 7/7/11 7/5/12

July 8/4/11 8/2/12

August 9/1/11 8/30/12

September 10/6/11 10/4/12

October 11/3/11 11/1/12

November 12/1/11 11/29/12

December 1/5/12 1/3/13

January 2/2/12 2/7/13

FISCAL YEARS 2011 AND 2012

CALENDAR OF PUBLIC DISCLOSURES Note: All dates are subject to change.

Media: Jim Sluzewski .......................................................................1-513-579-7764

Investor: Susan Robinson (prior to 7/1/11); Matt Stautberg (after 7/1/11) ............................................1-513-579-7028

Transfer Agent: BNY Mellon Shareowner Services

Inside the United States and Canada .......................1-866-337-3311

Outside the United States and Canada ...................1-201-680-6578

For the Hearing Impaired................................1-800-231-5469 (TDD)

Toll-Free Information Request Line ..............................1-800-261-5385

Macy’s, Inc. Corporate Website ............................www.macysinc.com

2011 Corporate Fact Book | 3

CALENDAR OF PUBLIC DISCLOSURES .................................................... 2

MACY’S, INC.

At-A-Glance ........................................................................................................... 4

Financial Highlights ............................................................................................. 4

Corporate Vision, Philosophy and Financial Objectives ................................. 5

Highlights of Progress in 2010 ............................................................................ 6

MACY’S ......................................................................................................... 7

BLOOMINGDALE’S .................................................................................... 14

MACY’S, INC.: A DIVERSE AND INCLUSIVE ORGANIZATION .............. 16

GIVING BACK TO OUR COMMUNITIES .................................................. 17

SOCIAL RESPONSIBILITY .......................................................................... 20

FINANCIAL OVERVIEW ............................................................................ 24

STORE LISTINGS

Maps ..................................................................................................................... 31

Locations .............................................................................................................. 40

COMPANY HISTORY .................................................................................. 52

MACY’S, INC. BOARD OF DIRECTORS/CORPORATE MANAGEMENT ................................................................. 58

SHAREHOLDER INFORMATION .............................................................. 61

STORES AND EMPLOYEES BY STATE ...................................................... 62

CONTENTS

4 | Macy’s, Inc.

Macy’s, Inc., with corporate offi ces in Cincinnati and New York, is one of the nation’s premier retailers, with fi scal 2010 sales of $25 billion. The Macy’s brand includes about 810 Macy’s department stores and furniture galleries in 45 states, the District of Columbia, Guam and Puerto Rico, as well as macys.com. The Bloomingdale’s brand includes 41 department stores and home stores in 12 states, bloomingdales.com, and (as of April 2, 2011) four Bloomingdale’s Outlet stores in three states. Bloomingdale’s also operates in Dubai under a lease agreement with Al Tayer Group LLC. Macy’s, Inc.’s diverse workforce includes approximately 166,000 employees. Prior to June 1, 2007, Macy’s, Inc. was known as Federated Department Stores, Inc. The company’s shares are traded under the symbol “M” on the New York Stock Exchange.

Notes:

(1) Represents the year-to-year percentage change in net sales from Bloomingdale’s and Macy’s stores in operation throughout the year presented and the immediately preceding year and all Internet sales.

(2) Represents a non-GAAP measure of operating results. Supplemental Operating Results on page 26 contains a reconciliation to the most comparable GAAP measure.

The foregoing fi nancial information, including non-GAAP measures that exclude certain items, should be read in conjunction with the audited fi nancial statements, including the related notes and other fi nancial information contained in the company’s most recent Securities and Exchange Commission fi lings.

2010 2009

Net Sales (in billions) $ 25.003 $ 23.489 Change in same-store sales (Note 1) 4.6% (5.3)%

Operating Income (in billions) $ 1.894 $ 1.063 % of sales 7.6% 4.5%

Operating Income, Excluding Certain Items (in billions) (Note 2) $ 1.919 $ 1.454 % of sales 7.7% 6.2%

Diluted Earnings Per Share Net income $ 1.98 $ 0.78 Net income, excluding certain items (Note 2) $ 2.11 $ 1.36

Cash Flow from Operating Activities (in billions) $ 1.506 $ 1.750

Cash Flow from Operating Activities Net of Cash Used by Investing Activities (in billions) (Note 2) $ 1.041 $ 1.373

FINANCIAL HIGHLIGHTS

MACY’S, INC. AT-A-GLANCE


CORPORATE VISION, PHILOSOPHY AND FINANCIAL OBJECTIVESCORPORATE VISION

Macy’s, Inc. is a premier national omnichannel retailer with iconic brands that each operate outstanding stores and dynamic online sites. Both Macy’s and Bloomingdale’s are known worldwide, and each has its own unique identity and customer focus.

CORPORATE PHILOSOPHY

Macy’s, Inc. clearly recognizes that the customer is paramount and that all actions and strategies must be directed toward providing a localized merchandise offering and shopping experience to targeted consumers through dynamic department stores and online sites.

Aggressive implementation of the company’s customer-centric strategies by a talented, experienced organization will provide Macy’s, Inc.’s department stores with an important competitive edge.

Macy’s, Inc. is committed to open and honest communications with employees, shareholders, vendors, customers, fi nancial analysts and the news media. The company seeks to be proactive in sharing information and in keeping these key stakeholder groups up-to-date on important and material developments.

At Macy’s, Inc., our greatest strength lies in the skill, judgment and talent of our people. Every day a production of enormous magnitude takes place on our selling fl oors and behind the scenes, where our people bring the company’s strategic goals to life. Our priority of attracting, retaining and growing the most talented people in the retail industry has been and will continue to be our greatest advantage.

CORPORATE FINANCIAL OBJECTIVES

The objectives of Macy’s, Inc. are:

• To grow sales;

• To continue to increase the company’s profi tability levels (earnings before interest, taxes, depreciation and amortization) as a percent of sales;

• To improve return on invested capital;

• To maximize total shareholder return.

6 | Macy’s, Inc.

CULTURE OF GROWTH DEVELOPS

Following several years of initiating signifi cant changes to the company’s structure and organization, the benefi ts began coming to fruition in 2010 as a culture of growth developed at Macy’s, Inc. Same-store sales in fi scal 2010 were up 4.6 percent. Operating income rose by 78 percent to $1.894 billion in 2010 from $1.063 billion in 2009. (The increase in operating income was 32 percent, excluding asset impairments, store closing costs and division consolidation costs of $25 million in 2010 and $391 million in 2009.) Return on invested capital – a key measure of fi nancial productivity – rose signifi cantly in 2010 from 2009. The company believes that the strategies that led to success in 2010 are still in the early phases of implementation with plenty of runway ahead to produce further improvements in sales, earnings and cash fl ow as execution sharpens. Among the strategies driving growth are My Macy’s localization, an increase in distinctive and exclusive merchandise, MAGIC Selling training (a new approach to customer engagement, rolled out to 130,000 associates in 2010), omnichannel integration and focus on the upscale customer at Bloomingdale’s.

DEBT REDUCTION

The company in fi scal 2010 continued to improve its balance sheet, paying down more than $1.2 billion of debt (including $1 billion retired early) and contributing $825 million to the pension plan. Macy’s, Inc. ended the fi scal year with $1.5 billion of cash.

INVESTMENT IN OMNICHANNEL INTEGRATION

Macy’s, Inc. continued to develop and expand its online capabilities in 2010 to accommodate future growth. This investment is part of the company’s omnichannel strategy, which integrates the offerings in stores, the Internet and mobile technologies.

The mission is to serve customers’ needs whenever and however they choose to shop, and to fulfi ll their orders from inventory no matter where it exists across the company. In 2010, the company announced that it will build a new 1.3 million-square-foot online fulfi llment center near Martinsburg, WV, with operations beginning in April 2012 and order shipments beginning in summer 2012. In addition, Macy’s is expanding its online order fulfi llment center near Portland in Robertson County, TN. The expansion will add 374,000 square feet of space. The expanded facility, with a total of 974,000 square feet, is expected to be operational in fall 2011. Also being expanded are macys.com organizations in New York City and San Francisco, bloomingdales.com in New York City and related technology functions in Atlanta. Macy’s, Inc. is building one of the largest, most effi cient and resourceful e-commerce organizations in American retailing as part of our comprehensive omnichannel strategy. This is a business that thrives on unrelenting creativity and innovation. Having the right talent in the right place is vital as we seek to sustain and accelerate our sales growth online, as well as in the stores.

NEW MOBILE TECHNOLOGY ADOPTED

Macy’s, Inc. took several signifi cant steps to advance its capabilities in mobile technology, which continues to gain acceptance with consumers in the United States. Macy’s and Bloomingdale’s optimized the ability for consumers to use any smart phone to navigate the company’s e-commerce sites. When customers use an Internet-capable mobile device to visit macys.com and bloomingdales.com, they now see larger and clearer images and click-through buttons so using the sites is faster and easier. In addition, Macy’s launched an upgraded iShop application for the iPhone and began piloting the use of Shopkick – a new location-based shopping app – at about 150 stores in the New York, Los Angeles, San Francisco and Chicago markets. In the fall season, a Bloomingdale’s initiative allowed customers to check in at any Bloomingdale’s store on Foursquare and be automatically entered for prizes.

HIGHLIGHTS OF PROGRESS IN 2010


MACY’S, ESTABLISHED IN 1858, IS THE GREAT AMERICAN DEPARTMENT STORE – AN ICONIC RETAILING BRAND WITH ABOUT 810 STORES OPERATING COAST-TO-COAST AND ONLINE AT MACYS.COM. MACY’S OFFERS POWERFUL ASSORTMENTS AND THE BEST BRANDS, TAILORED TO EACH AND EVERY CUSTOMER WITH OBVIOUS VALUE, ENGAGING SERVICE AND UNFORGETTABLE MOMENTS.

Clearly, Macy’s is distinctly different from other major retailers. Macy’s embraces customers and strives to provide an experience that transcends ordinary shopping. Our DNA includes special events that are magical – the Macy’s Thanksgiving Day Parade, the Fourth of July Fireworks, fl ower shows, fashion extravaganzas, celebrity appearances, cooking demonstrations and holiday traditions ranging from the arrival of Santa Claus to tree lightings and animated window displays.

Beyond fantastic events, Macy’s is delivering magical moments every day. We surprise and delight customers with unique and interesting fashion merchandise – including exclusive brands that our customers won’t fi nd elsewhere. We engage customers in stores, online and via mobile devices by offering advice and options that bring fashion ideas to life. Our looks set the tone in style magazines, videos, TV shows, movies, blogs and websites. Our associates take the extra step to help a customer in need. Every year, we receive tens of thousands of messages complimenting our people and saluting the shopping experience at Macy’s. It’s all part of the excitement that we’ve been creating for 152 years.

Localization is a key component of Macy’s strategic formula for continued growth and success. Through the local initiative of My Macy’s, we have invested in talent, technology and marketing that allow us to ensure that each and every Macy’s store is “just right” for the customer who shops in that location. We have provided for more local decision-making in every Macy’s community. We are tailoring our merchandise assortments, space allocations, service levels, visual merchandising and special events store-by-store.

In 2010, Macy’s opened two new stores in Palmdale and Tracy, CA. Macy’s Home stores in Kansas City, KS, and Owensboro, KY, were consolidated into nearby full-line stores during the year. A Macy’s store in Warwick, RI, was closed in 2010 due to fl ood damage and re-opened when repairs were complete in March 2011. In January 2011, the company announced the closing of three Macy’s stores in Union City, GA; Chestnut Hill, MA; and Austin, TX.

8 | Macy’s, Inc.

MAGIC SELLING CREATED

Macy’s launched this energized new approach to customer engagement by training more than 130,000 store associates in 2010, reinforced with a refresher course in early 2011 and ongoing coaching of associates on the sales fl oor. MAGIC Selling helps us better understand the needs of our customers, as well as provide options and advice. MAGIC Selling steps include: Meet and Make a Connection; Ask Questions and Listen; Give Options, Give Advice; Inspire to Buy ... and Sell More; and Celebrate the Purchase. It is the largest training and development program ever conducted in the company. MAGIC Selling is, in effect, Macy’s nationwide in-store growth strategy.

PRIVATE BRANDS AND EXCLUSIVE MERCHANDISE CONTINUE TO DEVELOP

Macy’s portfolio of private brands, including Alfani, American Rag, Charter Club, Hotel Collection, I.N.C. and Style & Co., continued to thrive in 2010 and outperformed market brands. These private brands deliver outstanding fashion, quality and value to the customer. And their approach to the marketplace has been strengthened through the local focus of My Macy’s. In 2010, private brands continued to be strong and represented approximately 20 percent of sales at Macy’s. A new contemporary Impulse brand – Bar III – launched in spring 2011. And Macy’s announced its Tasso Elba menswear brand would team up with golf brand Greg Norman Collection for an exclusive line called Greg Norman for Tasso Elba, beginning in 2011. (See pages 10-13 for more information on Macy’s private brands.)

EXCLUSIVE MERCHANDISE GROWS

Beyond private brands, Macy’s continued to aggressively pursue customer-right merchandise from market brands that are sold exclusively at Macy’s. This builds on our success with Martha Stewart Collection, Tommy Hilfi ger, Rachel Rachel Roy and others. In 2010, exclusives launched included Ellen Tracy sportswear; Material Girl, a juniors line designed by Madonna and her daughter Lourdes; Kenneth Cole Reaction men’s sportswear; Sean John men’s sportswear; and Vida for España by Eva Mendes, a dinnerware line. Exclusive and limited-distribution merchandise (including private brands) at Macy’s rose to more than 43 percent of total sales in 2010. Exclusivity also expanded in leased departments. In 2010, Sunglass Hut departments continued to expand to Macy’s stores nationwide. And Destination Maternity became the exclusive maternity and nursing apparel supplier to Macy’s, typically offering merchandise under the Motherhood Maternity and A Pea in the Pod brands.

INNOVATIONS IN IMPULSE

Macy’s is bringing additional resources and ideas to its Impulse departments, which feature contemporary fashion for women and men. A new Capsule Collection initiative beginning in 2011 engages acclaimed fashion designers to create a series of rotating collections of limited-edition women’s apparel pieces to be sold in 235 Macy’s stores and on macys.com. Among designers with capsule collections at Macy’s in 2011 are Kinder Aggugini, Matthew Williamson and Karl Lagerfeld. In 2010, Macy’s began the rollout of Impulse Beauty, a new concept featuring an open-sell space of niche beauty brands to complement the traditional beauty counters. Impulse Beauty offers Macy’s customers the opportunity to shop featured beauty brands independently with assistance available from specialized beauty advisers. More than 50 Impulse Beauty departments were in place by fall 2010, with an additional 50 planned for 2011. Also in 2011, Macy’s launched Bar III, a new contemporary private brand for the women’s and men’s Impulse departments.


CAUSE MARKETING INVOLVES CUSTOMERS

Macy’s continued to evolve in 2010 as one of the largest and most skilled cause marketers in America, working with customers to raise more than $23.8 million for worthwhile charities in 2010. Macy’s remains a national sponsor of the American Heart Association’s Go Red For Women movement, having collected more than $25 million over seven years to fund life-saving research and raise awareness among women of life-threatening heart disease. Other major cause marketing programs at Macy’s in 2010 benefi tted the Make-A-Wish Foundation, Breast Cancer Research Foundation, Reading Is Fundamental and National Park Foundation. (See pages 17-19 for more details on Macy’s corporate giving and cause marketing.)

DIGITAL/SOCIAL MEDIA

Macy’s is rapidly increasing its use of digital and social media to reach customers and build relationships. Programs such as the spring Fashion Director campaign encourage shoppers to explore the styles and assortments at Macy’s. By the end of fi scal 2010, Macy’s had more than 1.2 million Facebook friends, as well as active programs on Twitter, YouTube and other sites.

4 PRIORITIESMACY’S 4 STRATEGIC PRIORITIES ARE:

• Differentiating merchandise assortments and tailoring them to local tastes;

• Delivering obvious value;

• Improving the overall shopping environment; and

• Enhancing customer engagement, loyalty and traffi c through more brand-focused and effective marketing.

10 | Macy’s, Inc.

MACY’S IS RECOGNIZED AS A RETAIL INDUSTRY LEADER IN DEVELOPING PRIVATE BRAND MERCHANDISE THAT DIFFERENTIATES THE ASSORTMENTS IN OUR STORES AND DELIVERS EXCEPTIONAL VALUE TO THE CUSTOMER.

Merchandise for each private brand, available “Only at Macy’s,” is developed to appeal to a certain customer lifestyle and is supported with marketing programs that create a precisely defi ned image. Macy’s also develops private label goods to meet specifi c customer needs and to fi ll gaps in the assortment.

PRIVATE BRANDS

For women, Alfani offers modern separates with a clean, feminine sensibility and a refi ned fi t. The brand is designed to be the stylish woman’s resource for wear-to-work clothes that are both polished and versatile. Alfani for women includes sportswear, intimate apparel, jewelry, shoes and accessories.

Alfani offers clothing for the man who wants to look modern and professional. The collection is designed with an emphasis on fabric, detail and performance. Alfani for men includes sportswear, tailored clothing, furnishings, shoes and accessories. Alfani Red is a fi t designation within the Alfani line that indicates a slimmer, more streamlined fi t.

American Rag is a young, fashion-forward line of denim and separates. A favorite among Juniors and Young Men, the line melds vintage-inspired colors and prints with classic denim and the season’s trends. Recent additions to American Rag include a line of dressed-up separates for girls and suit separates for young men.

Bar lll is the newest major addition to the private brand portfolio. This collection of contemporary women’s and men’s clothing launched in February 2011 in Macy’s Impulse zone. Featuring design that is versatile and fashion-forward, the brand speaks to a young, style savvy and technologically sophisticated customer looking for distinctive pieces that work day and night and can be mixed with a high/low wardrobe that ranges from denim to true designer apparel. Later this year, Bar lll will be adding jewelry to its offerings.

Charter Club offers classic, all-American style in women’s ready-to-wear and home collections. The ready-to-wear collection, designed for the woman who appreciates both style and ease, features separates assorted for all occasions. The home collection provides the essential elements to create an elegant, traditional décor. The brand includes sportswear, intimate apparel, jewelry, accessories, bedding and bath.


Tracing a trajectory from quiet label to powerhouse brand, Giani Bernini has emerged as a coveted name for handbags and small leather goods within Macy’s. The brand’s fi ne materials and classic design attract a traditional customer who recognizes quality when she sees it. In fall of 2011, Giani Bernini will expand to include comfort shoes, sold under the GB by Giani Bernini name, and an extensive assortment of sterling silver bridge jewelry.

Club Room features classic American menswear for weekend or business casual occasions and tailored suit separates for the career-oriented professional. The Club Room brand includes sportswear, tailored clothing, furnishings, shoes and accessories.

First Impressions classic clothing for newborns and infants is defi ned by fi ne fabrics and time-honored details. The collection’s soft fabrications and sweet, traditional designs make First Impressions a favorite gift choice. The brand includes clothing and matching accessories for boys and girls with an emphasis on special occasion dressing.

Epic Threads is designed for tweens who want cool, original clothing that expresses their personality. Taking a cue from popular skate and streetwear brands, Epic Threads is urban, imaginative and edgy. The brand has a strong denim base, a high-energy color palette and an individualistic sensibility. Epic Threads Collection, introduced in 2011, offers dressy options for style-savvy tweens. This luxury collection for the home evokes the cool, clean-

lined style of a world-class hotel, creating an oasis in the modern world. Hotel offers high thread-count sheets and luxurious fabrics for the customer who appreciates quality and modern design. The sophisticated collection includes bedding, bath and mattresses. A new line extension offers easy-care product with a mix-and-match design element.

12 | Macy’s, Inc.

With a pretty, feminine sensibility and an emphasis on comfort, JM Collection is designed for the woman who wants versatile, work-to-weekend clothes at an affordable price. The collection consists of easy, classic silhouettes updated each season in new colors, prints and textures. Solution-oriented separates like the Magic Pant are an important part of the brand’s growing appeal.

With fun colors and fl irty prints, Jenni by Jennifer Moore intimates stand out as the choice for the young, fashionable customer, featuring a bright and cheerful selection of pajamas, loungewear and lingerie. The brand recently expanded into the Juniors arena, where its colorful, comfortable sensibility stands out in an assortment that includes sweatpants, hoodies, tees, and other items. The So Jenni brand takes the fun feel of Jenni to the children’s category, offering girls’ clothing in sizes 7-16.

Designed for the busy woman with an easy, modern sense of style, this brand offers a versatile collection of fashionable sportswear and stylish accessories that transition from home to work to weekend. Style & Co. Home bedding offers the same clean lines, great style and youthful ease she loves. The brand includes sportswear, shoes, jewelry, handbags, accessories and bedding.

I.N.C. for women delivers up-to-the-minute, trend-right sportswear designed to add freshness and fun to the fashionable woman’s wardrobe. Cutting edge, off-the-runway trends are captured and delivered in high-profi le, affordable clothes and shoes for the woman who wants to be noticed.

I.N.C. Men offers fashion-forward clothing with a modern fi t and sharp styling. Cool, understated suit separates, a broad range of style-conscious denim, sophisticated knits and graphic T-shirts are designed to mix and match for maximum versatility for the contemporary man.


BRANDS AND LABELS

The difference between a brand and a label is subtle but important. Our brands have fully developed brand profi les targeted to specifi c consumers and are supported with national advertising and branded in-store environments. A label is just that: a name attached to a category of merchandise that fi lls a niche in our assortments. Examples of our labels include:

• Greendog

• Holiday Lane

• John Ashford

• Karen Scott

• Morgan Taylor

• The Cellar

• Via Europa

With more than 20 years of success to its name, this cookware brand is a trusted line in countless American households. Designed to provide high performance at a reasonable price, Tools of the Trade offers quality, reliability and style in cookware and cutlery. The brand is divided into different lines to suit the needs of every kind of cook, from novice to expert.

Elegant and refi ned, this brand of European-inspired classic menswear is characterized by luxury fabrics and attention to detail. It is designed for the more traditional customer, who expects the best in investment dressing. The brand includes sportswear, tailored clothing, furnishings, shoes and accessories. In spring of 2011, Tasso Elba partnered with Greg Norman for the launch of Greg Norman for Tasso Elba, a broad assortment of golf-inspired menswear and accessories. Shark by Greg Norman for Tasso Elba is the younger, more fi tted expression of this worldly golf lifestyle.

14 | Macy’s, Inc.

BLOOMINGDALE’S, AMERICA’S ONLY NATIONWIDE, FULL-LINE, UPSCALE DEPARTMENT

STORE, IS RECOGNIZED FOR ITS ORIGINALITY, INNOVATION AND FASHION LEADERSHIP.

IT TRULY IS “LIKE NO OTHER STORE IN THE WORLD.” IN FACT, BLOOMINGDALE’S IS A

LEADING ATTRACTION FOR VISITORS AND TOURISTS COMING TO THE UNITED STATES

FROM AROUND THE GLOBE. THIS BRAND INCLUDES 41 STORES, BLOOMINGDALES.COM

AND FOUR BLOOMINGDALE’S OUTLET LOCATIONS.

Bloomingdale’s is separating itself from the mainstream and reinforcing its position as an authority for upscale, contemporary fashion. Customers are attracted by the latest styles from the hottest brands, such as Armani, Burberry, Chanel, Christian Dior, David Yurman, Jimmy Choo, Louis Vuitton, Miu Miu, Prada, Ralph Lauren Black Label, Theory and Tory Burch. Bloomingdale’s shoppers have come to expect and savor variety – the newest looks from established brands, as well as unique products from rising young designers.

Supporting these fashion brands are exceptional customer amenities – international visitors centers, personal shoppers, outstanding fi tting rooms and lounges – elegant events and personalized, attentive service that strengthen customer relationships and build loyalty.

BLOOMINGDALE’S OUTLETS DEBUT

The company launched a new Bloomingdale’s Outlet store concept in 2010. Four new Bloomingdale’s Outlets, each with approximately 25,000 square feet, opened in fall 2010 in Bergen Town Center in Paramus, NJ; Dolphin Mall in Miami, FL; Potomac Mills in Woodbridge, VA; and Sawgrass Mills in Sunrise, FL. Bloomingdale’s Outlet stores offer a range of apparel and accessories, including women’s ready-to-wear, men’s, children’s, women’s shoes, fashion accessories, jewelry, handbags and intimate apparel. Additional Bloomingdale’s Outlet stores are expected to roll out to selected locations across the country in 2011 and beyond. This includes three new outlet stores expected to open in 2011.

BLOOMINGDALE’S OPENS IN SANTA MONICA

Fashioned after New York City’s Soho location, a new Bloomingdale’s opened in Santa Monica, CA, in 2010 to anchor the Santa Monica Place shopping center. This contemporary men’s and women’s specialty store occupies more than 101,000 square feet and was designed to capture the diversity and culture of Santa Monica while adding a distinctive Bloomingdale’s presence. The renovation and restoration of the building was done in an effort to maintain the integrity of the space and respect for the environment. Among the store’s features is Bloomingdale’s “b-Style Bar,” a new concept in personal shopping. Customers have the opportunity to work with their own stylist who will escort them throughout the store to assemble an entire look from head-to-toe. The high-tech b-Style Bar includes wi-fi capabilities, PCs for instant connection to the bloomingdales.com website, and a fl at-screen TV airing fashion shows and trend reports.


BLOOMINGDALE’S OPENS IN DUBAI

On Feb. 1, 2010, Bloomingdale’s opened in Dubai under a license agreement with Al Tayer Insignia, a company of Al Tayer Group LLC. This is the company’s fi rst international location.

A three-level Bloomingdale’s apparel and accessories store with 146,000 square feet and a one-level home store with 54,000 square feet anchor The Dubai Mall, one of the world’s largest shopping centers. Delivering a world-class retail experience, Bloomingdale’s Dubai is a full-line, upscale department store showcasing a brand portfolio representing the latest and most desirable merchandise across every category throughout both the main and home stores. Included are boutique shops from luxury fashion houses such as YSL, Gucci, Bottega Veneta, Jimmy Choo, Balenciaga, Coach and Armani Collezioni; a Concierge Desk for priority customer service; a dedicated Fragrance Hall; the largest designer footwear department in the region; and a children’s world with interactive games, rides and toy machines.

16 | Macy’s, Inc.

MACY’S, INC.A DIVERSE AND INCLUSIVE ORGANIZATION

DIVERSITY IS AT THE CORE OF MACY’S, INC.’S APPROACH TO DOING BUSINESS. IT TOUCHES ALL AREAS OF OUR COMPANY. WE EXPECT OUR ASSOCIATES, OUR ADVERTISING AND IN-STORE PRESENTATIONS, AND THE COMPANIES WITH WHICH WE DO BUSINESS TO MIRROR THE BROAD AND DIVERSE CUSTOMER BASE WE SERVE.

OUR ASSOCIATES

Macy’s believes that different perspectives are important to our company, and we benefi t greatly from the individual strengths of each associate. To serve our diverse customers, we have to be a diverse company. Women represent more than 76 percent of the workforce across Macy’s, Inc., and more than 65 percent of management-level executives are women. Racial minorities represent more than 46 percent of our associate team and represent more than 27 percent of our management team.

OUR MARKETING AND ADVERTISING

A crucial part of our diversity strategy is our multicultural marketing. We use powerful and evocative images, symbols and words to communicate our brand messages, our special events and our merchandise selections to our diverse core customers. And we deliver those messages via targeted media channels to reach customers where and when they want to receive our messages. We also work with minority-owned and women-owned agencies to ensure our concept development and ad placements are in sync with our multicultural customer.

OUR SUPPLIERS

Having a supplier base that refl ects our diverse customer base gives us a tremendous competitive advantage, particularly because it enables us to source distinctive merchandise to present in our stores. It also helps us give meaningful support to businesses that contribute to the economic health of our local communities. Our Supplier Diversity Program helps us identify and support emerging minority-owned or women-owned businesses. New in 2011 is The Workshop at Macy’s, our company’s fi rst business development program, which will foster growth in the next generation of minority-owned and women-owned retail talent.


CORPORATE AND FOUNDATION GIFTS

Collectively, Macy’s, Bloomingdale’s and the Macy’s Foundation granted more than $27 million to 4,500 nonprofi t organizations in 2010. The majority of our gifts were directed to our core focus areas of arts and culture, education, the environment, HIV/AIDS research and awareness, and women’s issues.

Our support helped sponsor art exhibits, free admission to museums, art education workshops for youngsters, and special musical performances. In education, we funded scholarships, mentoring and tutoring programs, early childhood education programs, summer reading programs, and adopt-a-school programs. Support for our HIV/AIDS focus area included funding for meals and nutrition programs, prevention and awareness efforts, and research and counseling programs. Our support for environmental issues covered both conservation and preservation efforts such as animal preservation programs at zoos, a children’s garden education program to help build a conservation mindset, and sponsorship of Earth Day activities. We contributed to women’s health issues such as early detection and screening programs for heart disease, breast cancer, and ovarian cancer; provided assistance to emergency shelters; and funded programs to combat domestic and dating violence. We supported self-esteem programs for young girls and teens, as well as programs to build leadership skills and increase girls’ interest in math and science.

A new program in 2010 – the My Macy’s District Grants program – provided funds to each of the 69 Macy’s operating districts which they could grant to local organizations. Mirroring our My Macy’s business strategy, which stresses local decisions that drive individual stores’ merchandise offerings, the My Macy’s District Grants program helps our local teams support the organizations and events that are important in their communities. In its initial year, more then 1,200 individual grants were awarded.

As part of our third annual Believe campaign during the holidays, and based on the famous “Yes, Virginia, there is a Santa Claus” editorial in the New York Sun, our customers dropped letters to Santa into special letter boxes in our stores. Macy’s pledged to donate $1 to Make-A-Wish for every letter received up to a maximum of $1 million, and in 2010 we added a $200,000 contribution for letters posted on Dec. 10 – National Believe Day.

To continue our emphasis on the environment and sustainability and to mark the 40th anniversary of Earth Day, Macy’s contributed $500,000 to the National Park Foundation in 2010, matching customer contributions as part of our Great Give Back campaign.

GIVING BACK TO OUR COMMUNITIESMACY’S, INC. SUPPORTS THOUSANDS OF NONPROFIT ORGANIZATIONS ANNUALLY BECAUSE WE BELIEVE GIVING BACK IS THE RIGHT THING TO DO. IT’S A LONG-STANDING TRADITION AND ONE OF WHICH WE ARE VERY PROUD.

IN 2010, MACY’S, INC., THE MACY’S FOUNDATION, EMPLOYEES AND CUSTOMERS CONTRIBUTED APPROXIMATELY $60 MILLION TO WORTHWHILE CAUSES ACROSS OUR COUNTRY. IN ADDITION, OUR ASSOCIATES GAVE MORE THAN 122,000 HOURS OF THEIR PERSONAL TIME FOR COMMUNITY SERVICE.

18 | Macy’s, Inc.

ASSOCIATE GIFTSMACY’S AND BLOOMINGDALE’S ASSOCIATES ARE REMARKABLY GENEROUS AND LIVE THE “GIVE BACK” VALUE IN THEIR PERSONAL LIVES THROUGH MONETARY CONTRIBUTIONS, AS WELL AS GIFTS OF THEIR TIME AND LEADERSHIP TALENT.

Macy’s Foundation Matching Gifts: In 2010, our associates contributed more than $4 million of personal funds to 3,200 nonprofi t organizations across the nation. These associate gifts were doubled by the Macy’s Foundation Matching Gifts program, which matched associates’ contributions dollar-for-dollar to eligible nonprofi t organizations.

United Way: Macy’s, Inc. associates contributed more than $7.3 million to the United Way in 2010. In addition, the Macy’s Foundation granted an additional $3.4 million to United Way chapters across the country – for a total contribution of $10.7 million in 2010.

Earning for Learning: Earning for Learning (EFL) is the initiative that provides $250 grants per semester to schools where Macy’s, Inc. associates, their families or retirees volunteer their time for education activities such as tutoring and mentoring. In 2010, the Macy’s Foundation awarded approximately 100 grants totaling $48,750 through the EFL program, and EFL volunteers gave 5,828 hours of service to their local schools.

CAUSE-RELATED PROGRAMSBECAUSE MACY’S, INC. BELIEVES IN HELPING TO CREATE STRONGER, MORE VIBRANT COMMUNITIES, WE INVITED OUR CUSTOMERS THROUGHOUT THE YEAR TO JOIN US IN MAKING A DIFFERENCE AND “GIVING BACK.” IN 2010, CUSTOMERS CONTRIBUTED $24.6 MILLION TO NONPROFIT ORGANIZATIONS NATIONWIDE THROUGH OUR SIGNATURE PROGRAMS.

Go Red For Women: 2010 marked Macy’s seventh year as national sponsor of Go Red For Women, the American Heart Association’s campaign for awareness and prevention of heart disease in women. More than $4 million was contributed to the Go Red movement through our Wear Red Day promotion and from our Thanks For Sharing holiday rewards program. In seven years, Go Red has received more than $25 million from Macy’s and our customers.

Great Give Back Campaign: To recognize the 40th anniversary of Earth Day, Macy’s Great Give Back campaign put the spotlight on the National Park Foundation (NPF) in an effort to raise $1 million for our national treasure – our parks. Customers were encouraged to make a point-of-sale contribution, which Macy’s matched up to $500,000. A total of $1,027,725 was donated to NPF and, since our partnership began in 2008, NPF has received more than $8 million from Macy’s and our customers.

Reading Is Fundamental: Customers supported Reading Is Fundamental (RIF), the nation’s oldest and largest literacy organization, with donations totaling $3.2 million in 2010. More than $16.5 million has been raised for RIF since our partnership began in 2004.

Shop For A Cause: Shop For A Cause is our annual charity shopping day event held in every Macy’s store across the country. In 2010 Macy’s raised $2.5 million in one day for regional and national nonprofi t organizations. More than $36.5 million has been raised in the fi ve years that Macy’s has held this signature “give back” event.

Thanks For Sharing: Thanks For Sharing is Macy’s holiday rewards program. In 2010 for the second consecutive year, $15 million was raised for charitable organizations across the country. By enrolling in the rewards program during the holiday season, customers are contributing to designated local and national nonprofi t organizations located in communities nationwide. In the past eight years, Thanks For Sharing has raised more than $81 million.


EMPLOYEE VOLUNTEERISM PROGRAMS

Since the Macy’s, Inc. Partners in Time employee volunteer program was founded in 1989 in Atlanta, thousands of volunteers have given more than 1.9 million hours of community service. That’s valued at $32 million to hundreds of charities we’ve impacted through the years.

Along the way, our Partners in Time program has been nationally recognized, receiving the Points of Light/Hands On Network “Award for Excellence in Workplace Volunteerism,” among other honors.

In 2010, about 32,000 participants joined 1,800 Partners in Time service projects throughout the country. Thousands of others were involved in “give back” initiatives such as cause marketing and employee giving campaigns, as well as our Macy’s Foundation Earning for Learning grants-for-schools program.

Partners in Time and other “give back” volunteers gave more than 122,000 hours of service in 2010 alone. Partners in Time projects made a strong impact for youth with 21 percent of efforts benefi ting children and school partnerships. With the success of our Partners in Time Bag Hunger food campaign, celebrating its 13th anniversary in 2010, hunger relief represented 33 percent of volunteer efforts. Health issues, including AIDS, were supported by 11 percent of projects, and 7 percent supported breast cancer research, family violence awareness and other issues of special interest to women.

BAG HUNGER PROVIDES 51.8 MILLION MEALS FOR HUNGRY FAMILIES

During the annual Partners in Time Bag Hunger food campaign, Macy’s, Bloomingdale’s and our support locations band together to help alleviate summer hunger – a time when food pantry shelves are often bare and school meal programs are not offered. In 2010 and 2011, 19 million pounds of food and equivalent monetary contributions were donated by our generous associates.

In addition, volunteerism was a special focus of the campaigns, and associates gave 68,000 hours of service, valued by our charities at $1.36 million. Throughout the country, Macy’s, Inc. Partners in Time volunteers assembled sandwiches for hunger-relief agencies, packed and sorted food at warehouses and served meals at soup kitchens, putting their passion for giving back into action.

Since 1998, Partners in Time has provided an equivalent 66 million pounds of food or 51.8 million meals for hungry families throughout the country, many through affi liates of Feeding America, the largest domestic hunger-relief organization in the United States.

* Projects for diversity initiatives and others.

33% Hunger

11% Health (including AIDS)

14% Other*

7% Arts/civic/culture/holiday

21% Children/school partnerships

7% Women’s issues

7% Environment/housing/ disaster relief

2010 PARTNERS IN TIME EMPLOYEE VOLUNTEER PROJECTS BY ISSUE AREA

20 | Macy’s, Inc.

SOCIAL RESPONSIBILITYTHERE IS NO SHORTAGE OF TALK ABOUT THE OBLIGATION OF PUBLIC COMPANIES TO BE SOCIALLY RESPONSIBLE TO THE PEOPLE AND COMMUNITIES WHERE THEY DO BUSINESS. AT MACY’S, INC., WE HOLD THOSE SAME BELIEFS – ALONG WITH A BELIEF THAT ACTIONS SPEAK LOUDER THAN WORDS WHEN IT COMES TO HELPING TACKLE SOME OF THE TOUGHEST PROBLEMS FACING US TODAY.

OUR ROAD TO SUSTAINABILITY: DOING BETTER EVERY DAY

At Macy’s, Inc., we believe that contributing to a more sustainable environment is good business practice and the right thing to do for future generations. As a leading national retailer with a signifi cant workforce, we have the opportunity to make a meaningful difference in improving the environment. And we will do so by using resources more effi ciently, providing eco-friendly products that meet customer expectations and striving to reduce our overall impact on the environment. We must, however, operate within the bounds of good business decision-making so that each action we take is measurable, sustainable and enduring. Macy’s, Inc.’s commitment to sustainability is multi-dimensional.

1. We will be aggressive in our drive to eliminate wasteful behavior. In some cases, this requires consistent application of very simple principles, such as reminding our associates to turn off lights when rooms are not in use, to print fewer hard copies of e-mails, to recycle waste, to optimize facility performance and to use mass transit for commuting to work. In other cases, we will be pursuing systematic improvements to the way we do business, such as better targeting customer mailing lists and shifting marketing to electronic media so we are printing and sending fewer printed advertisements.

2. We will reduce our use of scarce resources in a meaningful way. Macy’s, Inc. will pursue ongoing programs to consume less electricity and water, reduce our waste stream, and source more of our power from renewable resources such as solar energy. We will use fewer paper-related products, recycle more and seek to use paper made with post-consumer waste. We will work to migrate more of our output from paper to electronic/digital, including large-scale projects such as monthly customer billing statements. By doing so, we will reduce the company’s greenhouse gas footprint, energy consumption and costs.


3. Whenever possible and sensible within the context of our business requirements, Macy’s, Inc. will pursue the most environmentally friendly solution. We will be as aggressive as possible in changing for the better to preserve endangered forests, wildlife, water quality and eco-systems. We will explore ways to make our shopping bags, gift boxes, wrapping tissue, merchandise hangers and other staples of retailing from recycled and/or certifi ed paper sources, with a preference for Forest Stewardship Council (FSC) certifi cation. The building materials used in our stores will be environmentally certifi ed whenever reasonably possible.

4. We will take a comprehensive approach to sustainability, involving everyone around us. Macy’s, Inc. will advocate sustainability and renewability with our vendor partners, associates and customers. This will include developing supplier sustainability standards and promoting eco-friendly products to our customers. We will encourage our associates and ask them to support our initiatives with their ideas, energy, personal actions and volunteer time. We will support efforts in our communities and our nation to clean up the environment and reduce consumption of scarce resources.

5. We will measure what we do and strive toward quantifi able goals. Building on progress in 2008-2010, Macy’s, Inc. has set the following sustainability goals to guide our progress in the years ahead. Specifi cally, Macy’s, Inc. will seek to:

• Reduce our energy consumption on a kWh-per-square-foot basis by another 8 percent to 10 percent by 2013 (compared with 2009 levels), recognizing that we already have reduced our energy consumption by about 19 percent over the past seven years (2003 to 2009).

• Host an additional 15 percent to 25 percent of renewable energy sources by 2013.

• Reduce the amount of paper we use by at least 10 percent by 2013 (from 2009 levels). This is on top of a reduction of 23 percent in the 2007 to 2009 period.

• Increase the percentage of recycled (10 percent PCW or higher) and/or third-party certifi ed paper we use in marketing materials to 70 percent by 2013 from 63 percent in 2009 (up from 3 percent in 2006).

• Increase the use of sustainable building materials in all major construction projects by 20 percent by 2013 (over 2010 levels).

22 | Macy’s, Inc.

SUSTAINABILITY IN ACTION

We have made signifi cant progress and have taken dozens of tangible steps to reduce our impact on the environment. In part, we have:

• Installed active solar power systems at about 40 Macy’s and Bloomingdale’s stores and facilities. When a new 3.5-megawatt, high-effi ciency solar power system goes into service in spring 2011 at the company’s Goodyear, AZ, online fulfi llment center, it will be the largest rooftop solar power system in the United States.

• Invested in energy effi ciency projects and consumption reduction initiatives that reduced our total energy use by 23 percent in the period 2002 to 2010.

• Decreased our use of offi ce/copy paper by 36 percent and paper used in marketing by 14 percent in the period 2007 to 2010.

• Increased to 90 percent the proportion of recycled or certifi ed paper used in our marketing materials, to 80 percent in our shopping bags, and to 89 percent in gift boxes.

• Installed more than 130,000 LED light bulbs in 2010 to cut energy consumption by up to 73 percent in 95 Macy’s stores, with continued rollout planned for 2011.

• Initiated recycling programs that diverted more than 66 tons of waste in 2010 from our stores, offi ces and distribution centers away from dumping in landfi lls.

• Created an internal website, Green Living, so our 166,000 associates can interact with the company on sustainability-related topics at work and home.

• Substituted biodegradable packing materials in place of foam “peanuts” in shipping products bought by customers online.

• Eliminated the use of bottled water for internal meetings in Macy’s offi ces.

• Initiated a two-year process for eliminating foam packaging (cups, bowls, plates, to-go containers) in the company’s in-store restaurants.

• Pioneered efforts to reduce the number of empty trucks on the nation’s highways through a coordinated program called Empty Miles Service that matches empty trucks/trailers with other shippers or carriers that can use the space.

Macy’s has been recognized by ForestEthics for reducing mailings and overall paper consumption, as well as for increased use of recycled and certifi ed paper. The EPA has rated Macy’s as one of its top 20 partners for generating the most green electricity on site. And Newsweek ranked Macy’s among the top 150 greenest companies in America for its efforts with solar power, recycled paper and eco-friendly merchandise.

We know we have more to learn and more to do in reducing our overall impact on the environment. We want Macy’s, Inc. to be a leader in the global effort to improve our climate and we are moving forward with conviction.


CONSUMER CHOICE

In a free society as eclectic and ethnically varied as ours, customers expect and demand a range of choices that meet their individual needs and fashion preferences. In our role as retailers, we recognize that it is the consumer who ultimately determines what products will continue to be viable retail offerings. Those decisions are made daily at the cash register by individual consumers and function as a singularly effective barometer for determining what will and will not be sold by retailers in a free and open marketplace. Varied and confl icting viewpoints about what should or should not be sold underscore our belief that factors unrelated to the workings of a free economy are inappropriate determinants of retail offerings. For example, while we respect the views of individuals who choose not to buy or wear fur, we also respect the wishes of many others who are our customers and who want to make such choices for themselves.

Macy’s, Inc. is involved in other crucial issue areas as well. In recent years, the company has initiated and completed an extensive, readily achievable upgrading of stores and facilities to comply with the Americans With Disabilities Act. The company also has actively participated in facilitating consumer product recalls, in industry efforts to safeguard consumer privacy, and in preventing credit fraud and abuses of personal bankruptcy laws that cost American families millions of dollars annually.

SWEATSHOPS, CHILD LABOR, HUMAN TRAFFICKING AND SLAVERY

Since 1995, Macy’s, Inc. has had a stringent Vendor & Supplier Code of Conduct that sets out specifi c standards and requirements for any vendor doing business with Macy’s, Inc. and is designed to protect workers in this country and abroad. All of the company’s vendors are required to agree in writing to comply with the company’s Code of Conduct. Among other things, the Code requires Macy’s, Inc.’s vendors to allow unannounced factory inspections for contractual compliance, as well as for compliance with laws and regulations dealing with child or forced labor and unsafe working conditions. Macy’s, Inc. will not tolerate the involvement of its suppliers in human traffi cking and slavery. It will quickly investigate any reports alleging human traffi cking and slavery in the supply chain, and will take swift and decisive action against any supplier that is found to act improperly in this regard. Inspections of factories engaged in the production of private brand merchandise for the company are made routinely, and willful noncompliance with the Code will result in termination. (Macy’s, Inc.’s policy on sweatshops and forced or child labor, as well as the company’s Vendor & Supplier Code of Conduct, is posted on www.macysinc.com. The Code of Conduct also is available by calling 1-800-261-5385.)

24 | Macy’s, Inc.

MACY’S, INC. SALES BY MONTH (Dollars in millions)

FINANCIAL OVERVIEW

% Change Comp-StoreMonth Sales # Stores Sales

February $ 1,577 847 (8.5)%March 1,931 848 (9.2)%April 1,691 848 (9.1)%1st QTR $ 5,199 (9.0)%

May $ 1,744 848 (9.1)%June 2,044 848 (8.9)% July 1,376 848 (10.7)%2nd QTR $ 5,164 (9.5)%

August $ 1,542 851 (8.1)%September 2,042 852 (2.3)% October 1,693 854 (0.8)% 3rd QTR $ 5,277 (3.6)%

November $ 2,174 854 (6.1)%December 4,422 854 1.0% January 1,253 850 3.4%

4th QTR $ 7,849 (0.8)%

TOTAL $ 23,489 (5.3)%

2009 % Change Comp-StoreMonth Sales # Stores Sales

February $ 1,737 852 (3.5)%March 2,142 853 (6.2)%April 1,868 851 3.0%1st QTR $ 5,747 (2.6)%

May $ 1,926 852 (1.5)% June 2,249 853 (2.1)%July 1,543 855 (2.9)%2nd QTR $ 5,718 (2.1)%

August $ 1,686 856 (4.8)%September 2,093 853 (6.6)%October 1,714 856 (6.3)%3rd QTR $ 5,493 (6.0)%

November $ 2,324 859 (13.3)%December 4,397 859 (4.0)%January 1,213 847 (4.5)%

4th QTR $ 7,934 (7.0)%

TOTAL $ 24,892 (4.6)%

2008

% Change Comp-StoreMonth Sales # Stores Sales

February $ 1,667 850 3.7%March 2,172 849 10.8%April 1,735 849 1.1%1st QTR $ 5,574 5.5%

May $ 1,786 849 1.4%June 2,226 849 6.5% July 1,525 849 7.3%2nd QTR $ 5,537 4.9%

August $ 1,636 852 4.3%September 2,181 853 4.8%October 1,806 854 2.5%3rd QTR $ 5,623 3.9%

November $ 2,341 854 6.1%December 4,618 854 3.9% January 1,310 850 2.6% 4th QTR $ 8,269 4.3%

TOTAL $ 25,003 4.6%

2010 2010 Macy’s, Inc. Sales by Merchandise Categories

FEMININE ACCESSORIES, INTIMATEAPPAREL, SHOES & COSMETICS

FEMININE APPAREL

MEN’S & CHILDREN’S

HOME/MISC.

23

15

1999 4.5%2000 2.0%2001 (5.3)%2002 (3.0)%

2003 (0.9)%2004 2.6%2005 1.3%2006 4.4%

2007 (1.3)%2008 (4.6)%2009 (5.3)%2010 4.6%

Macy’s, Inc. Comp-Store Sales


2010 2009

% to % to $ Net Sales $ Net Sales

Net sales ........................................................................................... $ 25,003 $ 23,489

Cost of sales ................................................................................................. 14,824 59.3% 13,973 59.5%

Gross margin ................................................................................................. 10,179 40.7% 9,516 40.5%

Selling, general and administrative expenses .......................................... (8,260) (33.0)% (8,062) (34.3)%

Impairments, store closing costs and division consolidation costs ....... (25) (0.1)% (391) (1.7)%

Operating income ........................................................................................ 1,894 7.6% 1,063 4.5%

Interest expense – net.................................................................................. (574) (556)

Income before income taxes ...................................................................... 1,320 507

Federal, state and local income tax expense ........................................... (473) (178)

Net income .................................................................................................... $ 847 $ 329

Basic earnings per share .............................................................................. $ 2.00 $ 0.78

Diluted earnings per share .......................................................................... $ 1.98 $ 0.78

CONSOLIDATED STATEMENTS OF INCOME (Dollars in millions, except per share data)

The foregoing fi nancial information should be read in conjunction with the audited fi nancial statements, including the related notes and other information contained in the company’s most recent Securities and Exchange fi lings.

26 | Macy’s, Inc.

SUPPLEMENTAL OPERATING RESULTS(Dollars in millions, except per share data)

2010 2009

Net sales .................................................................................................................................... $ 25,003 $ 23,489

Operating income .................................................................................................................... $ 1,894 $ 1,063

Percent to sales ................................................................................................................... 7.6 % 4.5 %

Add back impact of impairments, store closing costs and division consolidation costs ............................................................................................... 25 391

Operating income, excluding certain items ......................................................................... $ 1,919 $ 1,454

Percent to sales ................................................................................................................... 7.7 % 6.2 %

Diluted earnings per share ...................................................................................................... $ 1.98 $ 0.78

Add back impact of impairments, store closing costs and division consolidation costs ............................................................................................... 0.04 0.58

Add back expenses associated with the early retirement of debt .............................. 0.09 –

Diluted earnings per share, excluding certain items ........................................................... $ 2.11 $ 1.36

Net cash provided by operating activities ............................................................................ $ 1,506 $ 1,750

Net cash used by investing activities ..................................................................................... (465) (377)

Cash fl ow from operating activities net of cash used by investing activities ................... $ 1,041 $ 1,373

The foregoing fi nancial information, including non-GAAP measures that exclude certain items, should be read in conjunction with the audited fi nancial statements, including the related notes and other information contained in the company’s most recent Securities and Exchange fi lings.


CONDENSED CONSOLIDATED BALANCE SHEETS(Dollars in millions)

January 29, January 30,ASSETS 2011 2010

Current Assets:

Cash and cash equivalents ............................................................. $ 1,464 $ 1,686

Receivables ........................................................................................ 392 358

Merchandise inventories ................................................................ 4,758 4,615

Prepaid expenses and other current assets .................................. 285 223

Total Current Assets ........................................................ 6,899 6,882

Property and equipment – net ...................................................... 8,813 9,507

Goodwill............................................................................................. 3,743 3,743

Other intangible assets – net .......................................................... 637 678

Other assets ...................................................................................... 539 490

Total Assets ...................................................................... $ 20,631 $ 21,300

LIABILITIES & SHAREHOLDERS’ EQUITY

Current Liabilities:

Short-term debt ................................................................................ $ 454 $ 242

Merchandise accounts payable ...................................................... 1,421 1,312

Accounts payable and accrued liabilities ...................................... 2,644 2,626

Income taxes ..................................................................................... 182 68

Deferred income taxes .................................................................... 364 214

Total Current Liabilities .................................................... 5,065 4,462

Long-term debt ................................................................................ 6,971 8,456

Deferred income taxes ................................................................... 1,245 1,132

Other liabilities .................................................................................. 1,820 2,597

Shareholders’ equity ........................................................................ 5,530 4,653

Total Liabilities & Shareholders’ Equity ........................... $ 20,631 $ 21,300


28 | Macy’s, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Dollars in millions)

2010 2009

Cash fl ows from operating activities:

Net income ............................................................................................................................ $ 847 $ 329

Depreciation and amortization .......................................................................................... 1,150 1,210

Impairments, store closing costs and division consolidation costs ............................... 25 391

Decrease in working capital and other, net ...................................................................... (516) (180)

Net cash provided by operating activities ..................................................... 1,506 1,750

Cash fl ows from investing activities:

Capital expenditures for property and

equipment and capitalized software ........................................................................ (505) (460)

Disposition of property and equipment......................................................................... 74 60

Other, net ............................................................................................................................ (34) 23

Net cash used by investing activities .......................................................... (465) (377)

Cash fl ows from fi nancing activities:

Debt repaid ........................................................................................................................ (1,245) (966)

Dividends paid ................................................................................................................... (84) (84)

Acquisition of treasury stock ............................................................................................ (1) (1)

Issuance of common stock ............................................................................................... 43 8

Other, net ............................................................................................................................ 24 (29)

Net cash used by fi nancing activities .......................................................... (1,263) (1,072)

Net increase (decrease) in cash and cash equivalents ....................................................... (222) 301

Cash and cash equivalents at beginning of period ............................................................ 1,686 1,385

Cash and cash equivalents at end of period ....................................................................... $ 1,464 $ 1,686



Net sales include merchandise sales, leased department income, shipping and handling fees and sales to third party retailers. In 2010, the Company began including sales of private brand goods directly to third party retailers and sales of excess inventory to third parties in net sales. These items were previously reported, net of the related cost of sales, in selling, general and administrative (“SG&A”) expenses. This change in presentation had an immaterial impact on reported net sales, does not impact comparable store sales, net income or diluted earnings per share, and was not applied retroactively to annual periods prior to fi scal 2010.

The Company changed its methodology for recording deferred state income taxes from a blended rate basis to a separate entity basis, and has refl ected the effects of such change to 2010 and all prior periods. Even though the Company considers the change to have had only an immaterial impact on its fi nancial condition, results of operations and cash fl ows for the periods presented, the fi nancial condition, results of operations and cash fl ows for the prior periods as previously reported have been adjusted to refl ect the change.

Net income for 2010 was $847 million, compared to net income of $329 million for 2009, refl ecting the benefi ts of the strategic initiatives at Macy’s and the continued strong performance at Bloomingdale’s. The net income for 2010 includes the impact of $25 million of impairments and store closing costs. The net income for 2009 included the impact of $391 million of impairments, store closing costs and division consolidation costs.

Net SalesNet sales for 2010 totaled $25,003 million, compared to net sales of $23,489 million for 2009, an increase of $1,514 million or 6.4%. On a comparable store basis, net sales for 2010 were up 4.6% compared to 2009. Sales from the Company’s Internet businesses in 2010 increased 28.7% compared to 2009 and positively affected the Company’s 2010 comparable store sales by 0.9%. The Company has realized continued success in the My Macy’s localization strategy. Geographically, sales in 2010 were strongest in Florida and the upper Midwest. By family of business, sales in 2010 were strongest in updated women’s apparel, particularly the

Company’s I.N.C. brand, jewelry and watches, men’s apparel and accessories, luggage, furniture and mattresses. Sales of the Company’s private label brands continued to be strong and represented approximately 20% of net sales in the Macy’s-branded stores in 2010. Sales in 2010 were less strong in traditional women’s sportswear. The Company calculates comparable store sales as sales from stores in operation throughout 2009 and 2010 and all net Internet sales. Stores undergoing remodeling, expansion or relocation remain in the comparable store sales calculation unless the store is closed for a signifi cant period of time. Defi nitions and calculations of comparable store sales differ among companies in the retail industry.

Cost of SalesCost of sales was $14,824 million or 59.3% of net sales for 2010, compared to $13,973 million or 59.5% of net sales for 2009, an increase of $851 million. The improved cost of sales rate refl ects the benefi t of good inventory management throughout 2010. The valuation of merchandise inventories on the last-in, fi rst-out basis did not impact cost of sales in either period.

Selling, General and Administrative ExpensesSG&A expenses were $8,260 million or 33.0% of net sales for 2010, compared to $8,062 million or 34.3% of net sales for 2009, an increase of $198 million. The SG&A rate as a percent of net sales was lower in 2010, as compared to 2009, refl ecting an increase in net sales. SG&A expenses in 2010 increased due to higher selling costs as a result of stronger sales, higher workers’ compensation and general liability insurance costs, higher pension and supplementary retirement plan expense, and higher costs in support of the Company’s omnichannel operations, partially offset by lower depreciation and amortization expense, lower stock-based compensation expense, higher income from credit operations and lower advertising expense. Workers’ compensation and general liability insurance costs were $148 million for 2010, compared to $124 million for 2009. Pension and supplementary retirement plan expense amounted to $144 million for 2010, compared to $110 million for 2009. Depreciation and amortization expense was $1,150 million for 2010, compared to $1,210 million for 2009. Stock-based compensation expense was $66 million

for 2010, compared to $76 million for 2009. Income from credit operations was $332 million in 2010 as compared to $323 million in 2009. Advertising expense, net of cooperative advertising allowances, was $1,072 million for 2010 compared to $1,087 million for 2009.

Impairments, Store Closing Costs and Division Consolidation CostsImpairments, store closing costs and division consolidation costs for 2010 amounted to $25 million and included $18 million of asset impairment charges and $7 million of other costs and expenses related to the store closings announced in January 2011.

Impairments, store closing costs and division consolidation costs for 2009 amounted to $391 million and included $115 million of asset impairment charges, $6 million of other costs and expenses related to the store closings announced in January 2010, and $270 million of restructuring-related costs and expenses associated with the division consolidation and localization initiatives, primarily severance and other human resource-related costs.

Net Interest ExpenseNet interest expense was $574 million for 2010, compared to $556 million for 2009, an increase of $18 million. The increase in net interest expense is primarily due to approximately $66 million of expenses associated with the early retirement of approximately $1,000 million of outstanding debt during 2010, partially offset by lower levels of borrowings due primarily to such early retirement of outstanding debt.

Income TaxesThe Company’s effective tax rate of 35.8% for 2010 and 35.2% for 2009 differ from the federal income tax statutory rate of 35%, and on a comparative basis, principally because of the effect of state and local income taxes and the settlement of various tax issues and tax examinations. Federal, state and local income tax expense for 2009 included a benefi t of approximately $21 million related to the settlement of federal income tax examinations, primarily attributable to the disposition of former subsidiaries.

FISCAL 2010 – RESULTS OF OPERATIONSComparison of the 52 Weeks Ended January 29, 2011 and January 30, 2010.

30 | Macy’s, Inc.

MACY’S AND BLOOMINGDALE’SSTORE LOCATIONS


MACY’S STORE REGIONS # Districts 69# Stores 806

Puerto Rico

# Districts 8# Stores 79

32 | Macy’s, Inc.

MACY’S MID-ATLANTIC REGION # Districts 8# Stores 97


MACY’S MIDWEST REGION# Districts 8# Stores 96

34 | Macy’s, Inc.

MACY’S NORTH REGION # Districts 8# Stores 79


MACY’S NORTHEAST REGION# Districts 10# Stores 95

36 | Macy’s, Inc.

# Districts 10# Stores 124MACY’S NORTHWEST REGION


MACY’S SOUTH CENTRAL REGION# Districts 8# Stores 106

38 | Macy’s, Inc.

MACY’S SOUTHEAST REGION # Districts 9# Stores 101


MACY’S SOUTHWEST REGION# Districts 8# Stores 108

Includes: F = Furniture • H = Home • K = Kids • M = Men’s 40 | Macy’s, Inc.

GROSS YEAR SQ. FT.METROPOLITAN AREA MALL/LOCATION CITY OPENED (IN 000s)


MACY’S STORE LOCATIONS

ALABAMA SOUTHEAST REGION Birmingham Brookwood Village Birmingham 1974 244

Birmingham Riverchase Galleria Hoover 1986 226

ARIZONA SOUTH CENTRAL REGIONPhoenix Arrowhead Towne Center Glendale 1993 200

Phoenix Biltmore Fashion Park Phoenix 1968 213

Phoenix Chandler Fashion Center Chandler 2001 201

Phoenix Fiesta Mall Mesa 1979 159

Phoenix Metro Center Phoenix 1973 107

Phoenix Paradise Valley Mall Phoenix 1980 153

Phoenix Santan Village Gilbert 2009 122

Phoenix Scottsdale Fashion Square Scottsdale 2002 251

Phoenix Superstition Springs Center Mesa 1994 155

Tucson Park Place Tucson 1974 153

Tucson Tucson Mall Tucson 1991 146

CALIFORNIA NORTHWEST REGIONFairfi eld Solano Fairfi eld 1985 165

Fresno Fashion Fair Fresno 1983 187

Fresno Fashion Fair K/M Fresno 1970 76

Fresno Fresno Furniture Fresno 2000 73

Fresno Shops at River Park Fresno 2009 107

Modesto Vintage Faire Modesto 1981 146

Modesto Vintage Faire H/M Modesto 1977 87

Redding Mt. Shasta Mall Redding 2001 110

Sacramento Arden Fair Sacramento 1961 204

Sacramento Country Club Plaza Sacramento 1961 165

Sacramento Downtown Plaza Sacramento 1963 343

Sacramento Downtown Plaza F/M Sacramento 1979 201

Sacramento Galleria at Roseville Roseville 2000 224

Sacramento Roseville Furniture Roseville 2001 50

Sacramento Sunrise Mall Citrus Heights 1972 178

Sacramento Sunrise Mall F/M Citrus Heights 1972 160

Salinas Del Monte Center Monterey 1967 237

Salinas Monterey Furniture Monterey 1997 39

Salinas Northridge Mall Salinas 1972 177

San Francisco-Oakland Bay Fair San Leandro 1957 213

San Francisco-Oakland Broadway Plaza Walnut Creek 1954 188

San Francisco-Oakland Broadway Plaza M Walnut Creek 1995 72

San Francisco-Oakland County East Mall Antioch 2004 107

San Francisco-Oakland Hillsdale Furniture San Mateo 1987 35

San Francisco-Oakland Hillsdale Shopping Center San Mateo 1954 252

San Francisco-Oakland Hilltop Richmond 1976 201

San Francisco-Oakland Mall at Northgate San Rafael 1964 266

San Francisco-Oakland NewPark Mall Newark 1980 196

San Francisco-Oakland Novato Furniture Novato 1992 50

San Francisco-Oakland Pleasanton Furniture Pleasanton 1994 48

San Francisco-Oakland Serramonte Daly City 1968 233

San Francisco-Oakland Southland Mall Hayward 1983 179

San Francisco-Oakland Stoneridge Shopping Center Pleasanton 1980 197

CALIFORNIA NORTHWEST REGION continuedSan Francisco-Oakland Stoneridge Shopping Center F/H/K/M Pleasanton 1980 174

San Francisco-Oakland Stonestown Galleria San Francisco 1952 280

San Francisco-Oakland Sunvalley Shopping Center Concord 1967 206

San Francisco-Oakland Sunvalley Shopping Center H/M Concord 1981 183

San Francisco-Oakland Union City Furniture Clearance Union City 1997 63

San Francisco-Oakland Union Square San Francisco 1866 925

San Francisco-Oakland Union Square H/M San Francisco 1866 248

San Francisco-Oakland Village at Corte Madera Corte Madera 1985 117

San José Cupertino Square Mall Cupertino 1997 177

San José Stanford Shopping Center Palo Alto 1961 223

San José Stanford Shopping Center M Palo Alto 1961 96

San José Sunnyvale Town Center Sunnyvale 1979 178

San José Valley Fair Santa Clara 1956 396

San José Valley Fair F/H/M Santa Clara 1957 316

San José Eastridge San José 1971 187

San José Oakridge San José 1978 236

Santa Cruz Capitola Mall Capitola 2002 102

Santa Rosa Coddingtown Mall Santa Rosa 1966 203

Santa Rosa Santa Rosa Mall Santa Rosa 1981 187

Stockton Sherwood Mall Stockton 1966 168

Stockton West Valley Mall Tracy 2010 101

Visalia-Porterville Visalia Mall Visalia 2009 152

SOUTHWEST REGIONBakersfi eld Valley Plaza Bakersfi eld 1967 150

El Centro Imperial Valley Mall El Centro 2005 140

Los Angeles-Orange Co. Antelope Valley Mall Palmdale 2010 110

Los Angeles-Orange Co. Baldwin Hills Crenshaw Plaza Los Angeles 1947 257

Los Angeles-Orange Co. Beverly Center Los Angeles 1982 158

Los Angeles-Orange Co. Beverly Center M Los Angeles 1982 67

Los Angeles-Orange Co. Brea Mall Brea 1996 185

Los Angeles-Orange Co. Brea Mall F/H/K/M Brea 2007 198

Los Angeles-Orange Co. Broadway Plaza Los Angeles 1973 266

Los Angeles-Orange Co. Burbank Town Center Burbank 1992 278

Los Angeles-Orange Co. Century City Los Angeles 1976 136

Los Angeles-Orange Co. Del Amo Fashion Center Torrance 1966 289

Los Angeles-Orange Co. Del Amo Fashion Center H/K/M Torrance 1981 177

Los Angeles-Orange Co. Del Amo Fashion Center Home Torrance 1966 165

Los Angeles-Orange Co. Eagle Rock Plaza Los Angeles 1973 150

Los Angeles-Orange Co. Fashion Island Newport Beach 1967 226

Los Angeles-Orange Co. Fashion Square Sherman Oaks 1962 312

Los Angeles-Orange Co. Fox Hills Culver City 1975 189

Los Angeles-Orange Co. Glendale Galleria Glendale 1996 191

Los Angeles-Orange Co. Irvine Spectrum Irvine 2002 140

Los Angeles-Orange Co. Laguna Hills Laguna Hills 1975 157

Los Angeles-Orange Co. Lakewood Center Lakewood 1952 348

Los Angeles-Orange Co. Laurel Plaza North Hollywood 1995 475

Los Angeles-Orange Co. Los Cerritos Center Cerritos 1971 175

Los Angeles-Orange Co. MainPlace Santa Ana 1958 334

Los Angeles-Orange Co. MainPlace F/M Santa Ana 2006 155

MACY’S STORE LOCATIONSCONTINUED

Includes: F = Furniture • H = Home • K = Kids • M = Men’s 2011 Corporate Fact Book | 41



CALIFORNIA SOUTHWEST REGION continuedLos Angeles-Orange Co. Manhattan Beach Manhattan Beach 1982 111

Los Angeles-Orange Co. Manhattan Beach H/M Manhattan Beach 1982 66

Los Angeles-Orange Co. Mission Viejo Mall Mission Viejo 1980 197

Los Angeles-Orange Co. Mission Viejo Mall H Mission Viejo 1979 237

Los Angeles-Orange Co. Montebello Town Center Montebello 2001 144

Los Angeles-Orange Co. Montebello Town Center Home Montebello 2007 89

Los Angeles-Orange Co. Northridge Fashion Center Northridge 1995 207

Los Angeles-Orange Co. Northridge Fashion Center F/H/M Northridge 2007 130

Los Angeles-Orange Co. Pasadena Pasadena 1947 301

Los Angeles-Orange Co. Paseo Colorado Pasadena 1980 158

Los Angeles-Orange Co. Promenade Woodland Hills 1993 192

Los Angeles-Orange Co. Promenade Furniture Woodland Hills 1993 81

Los Angeles-Orange Co. Puente Hills Mall City of Industry 1974 152

Los Angeles-Orange Co. Santa Anita Arcadia 1974 188

Los Angeles-Orange Co. South Bay Galleria Redondo Beach 1959 361

Los Angeles-Orange Co. South Coast Plaza Costa Mesa 1973 276

Los Angeles-Orange Co. South Coast Plaza M Costa Mesa 1973 79

Los Angeles-Orange Co. South Coast Plaza Home Costa Mesa 1996 209

Los Angeles-Orange Co. Stonewood Center Downey 1990 154

Los Angeles-Orange Co. Stonewood Center Home Downey 1990 34

Los Angeles-Orange Co. Topanga Canoga Park 1994 243

Los Angeles-Orange Co. Valencia Town Center Santa Clarita 1992 201

Los Angeles-Orange Co. West Covina West Covina 1993 182

Los Angeles-Orange Co. Westminster Mall Westminster 1974 215

Los Angeles-Orange Co. Westside Pavilion Los Angeles 1965 243

Los Angeles-Orange Co. Westside Pavilion Furniture Los Angeles 2004 51

Riverside-San Bernardino Galleria at Tyler Riverside 1973 165

Riverside-San Bernardino Inland Center San Bernardino 1998 181

Riverside-San Bernardino Montclair Plaza Montclair 1968 171

Riverside-San Bernardino Moreno Valley Mall Moreno Valley 1992 197

Riverside-San Bernardino Palm Desert Palm Desert 1982 202

Riverside-San Bernardino Palm Desert Furniture Palm Desert 1983 48

Riverside-San Bernardino Promenade in Temecula Temecula 1999 165

Riverside-San Bernardino Promenade in Temecula F/H/K/M Temecula 2008 208

Riverside-San Bernardino Victoria Gardens Rancho Cucamonga 2004 175

Riverside-San Bernardino Victoria Gardens F/H/K/M Rancho Cucamonga 2008 182

San Diego Chula Vista Center Chula Vista 1962 181

San Diego Fashion Valley San Diego 1969 204

San Diego Grossmont Shopping Center La Mesa 1961 151

San Diego Horton Plaza San Diego 1985 139

San Diego Mission Valley San Diego 1961 385

San Diego Mission Valley Home San Diego 1975 185

San Diego North County Fair Escondido 1986 151

San Diego Otay Ranch Town Center Chula Vista 2006 140

San Diego Parkway El Cajon 1972 120

San Diego Plaza Bonita San Diego 1981 156

San Diego Plaza Camino Real Carlsbad 1979 156

San Diego Plaza Camino Real F/H/M Carlsbad 1980 118

San Diego University Town Center San Diego 1977 155

Santa Barbara La Cumbre Plaza Santa Barbara 1967 150

CALIFORNIA SOUTHWEST REGION continuedSanta Barbara Paseo Nuevo Santa Barbara 1990 141

Santa Barbara Santa Maria Town Center Santa Maria 1990 131

Ventura County Pacifi c View Ventura 1963 181

Ventura County Simi Valley Town Center Simi Valley 2005 107

Ventura County Simi Valley Town Center F/H/M Simi Valley 2006 140

Ventura County The Oaks Thousand Oaks 1983 137

Ventura County The Oaks H/K/M Thousand Oaks 1983 149

COLORADO SOUTH CENTRAL REGIONBoulder Twenty Ninth Street Mall Boulder 1983 153

Colorado Springs Chapel Hills Mall Colorado Springs 1998 174

Denver Cherry Creek Furniture Denver 1990 21

Denver Cherry Creek Shopping Center Denver 1990 189

Denver Flat Iron Crossing Broomfi eld 2000 205

Denver Northfi eld Stapleton Denver 2006 140

Denver Park Meadows Lone Tree 1997 217

Denver Southwest Plaza Littleton 1982 141

Denver Streets at SouthGlenn Centennial 1974 160

Denver Streets at SouthGlenn Furniture Centennial 2008 20

Denver The Orchard Westminster 2008 140

Denver Town Center at Aurora Aurora 1975 167

Fort Collins Foothills Fashion Mall Ft. Collins 1974 129

Fort Collins Promenade Shops at Centerra Loveland 2005 150

CONNECTICUT NORTHEAST REGIONFairfi eld County Danbury Fair Danbury 1987 241

Fairfi eld County Stamford Town Center Stamford 1982 255

Fairfi eld County Trumbull Trumbull 1978 201

Hartford Enfi eld Square Enfi eld 1971 166

Hartford Enfi eld Square F/H/M Enfi eld 1971 76

Hartford Shoppes at Buckland Hills Manchester 1990 151

Hartford Shoppes at Buckland Hills F/K/M Manchester 2004 106

Hartford Westfarms Farmington 1993 213

Hartford Westfarms F/M Farmington 1993 80

New Haven Brass Mill Center Waterbury 1997 166

New Haven Connecticut Post Milford 1991 225

New Haven Meriden Meriden 1971 179

Norwich Crystal Mall Waterford 1984 120

MACY’S STORE LOCATIONS CONTINUED




DELAWARE MID-ATLANTIC REGIONDover Dover Mall Dover 1997 140

Philadelphia Christiana Mall Newark 1979 217

Philadelphia Concord Mall Wilmington 1983 153

Philadelphia Concord Mall Home Wilmington 1983 56

FLORIDA SOUTHEAST REGIONDaytona Beach Volusia Mall Daytona Beach 1982 164

Ft. Myers Edison Mall Ft. Myers 1965 129

Ft. Myers Edison Mall F/H/K/M Ft. Myers 1979 168

Gainesville Oaks Mall Gainesville 1984 104

Lakeland Lakeland Square Lakeland 1995 101

Lakeland Winter Haven Winter Haven 1977 75

Melbourne Melbourne Square Melbourne 1983 104

Melbourne Merritt Square Merritt Island 1970 173

Miami-Palm Beach Aventura Mall F/H/M Aventura 1999 238

Miami-Palm Beach Aventura Mall Aventura 1983 275

Miami-Palm Beach Boca Raton Furniture Boca Raton 1999 50

Miami-Palm Beach Boynton Beach Mall Boynton Beach 1985 227

Miami-Palm Beach Broward Mall Plantation 1978 205

Miami-Palm Beach CityPlace West Palm Beach 2000 108

Miami-Palm Beach Coral Square Coral Springs 1984 111

Miami-Palm Beach Coral Square H/K/M Coral Springs 1985 142

Miami-Palm Beach Dadeland Miami 1962 420

Miami-Palm Beach Dadeland F/H/K Miami 1992 210

Miami-Palm Beach Ft. Lauderdale Furniture Ft. Lauderdale 2002 45

Miami-Palm Beach Galleria Ft. Lauderdale 2006 218

Miami-Palm Beach Miami (Downtown) Miami 1898 485

Miami-Palm Beach Miami Beach Miami Beach 1953 96

Miami-Palm Beach Miami International Mall Miami 1982 205

Miami-Palm Beach Miami International Mall H/M Miami 1982 145

Miami-Palm Beach Pembroke Furniture Pembroke Pines 1997 51

Miami-Palm Beach Pembroke Lakes Mall Pembroke Pines 1992 181

Miami-Palm Beach Pembroke Lakes Mall H/M Pembroke Pines 2006 83

Miami-Palm Beach Pompano Beach Pompano Beach 1969 151

Miami-Palm Beach South Dade Furniture Clearance Miami 1979 70

Miami-Palm Beach Southland Mall Miami 1981 145

Miami-Palm Beach The Falls Miami 2006 254

Miami-Palm Beach The Gardens Mall Palm Beach Gardens 1988 341

Miami-Palm Beach Town Center at Boca Raton Boca Raton 1979 311

Miami-Palm Beach Wellington Green Wellington 2001 199

Miami-Palm Beach Westland Mall Hialeah 1967 209

Naples Coastland Center Naples 1977 144

Ocala Paddock Mall Ocala 1980 85

Orlando Altamonte Furniture Altamonte Springs 2000 50

Orlando Altamonte Mall Altamonte Springs 1975 152

Orlando Florida Mall Orlando 1999 202

Orlando Mall at Millenia Orlando 2002 276

Orlando Orlando Fashion Square Orlando 1973 206

Orlando Oviedo Marketplace Oviedo 2000 195

Orlando Seminole Towne Center Sanford 1995 161

Punta Gorda Port Charlotte Town Center Port Charlotte 1994 85

Sarasota DeSoto Square Bradenton 1973 132

FLORIDA SOUTHEAST REGION continuedSarasota Sarasota Square Sarasota 1977 143

Sarasota Southgate Sarasota 1976 152

Stuart Treasure Coast Square Jensen Beach 1987 140

Tallahassee Governor’s Square Tallahassee 1979 169

Tampa Brandon Town Center Brandon 1995 142

Tampa Citrus Park Tampa 1999 162

Tampa Countryside Furniture Clearwater 2000 50

Tampa Countryside Mall Clearwater 1975 213

Tampa Gandy Furniture Tampa 1954 61

Tampa Gulf View Square Port Richey 1981 84

Tampa Shops at Wiregrass Pasco County 2008 139

Tampa Tyrone Square St. Petersburg 1972 162

Tampa University Square Tampa 1974 140

Tampa WestShore Plaza Tampa 1966 236

Vero Beach Indian River Mall Vero Beach 1996 104

GEORGIA SOUTHEAST REGIONAthens Georgia Square Athens 1981 121

Atlanta Arbor Place Douglasville 2004 141

Atlanta Cumberland Mall Atlanta 1973 279

Atlanta Gallery at South DeKalb Decatur 1969 188

Atlanta Greenbriar Mall Atlanta 1965 200

Atlanta Gwinnett Furniture Duluth 1998 51

Atlanta Gwinnett Place Duluth 1984 245

Atlanta Lenox Square Atlanta 1959 433

Atlanta Mall at Stonecrest Lithonia 2001 160

Atlanta Mall of Georgia Buford 2000 245

Atlanta North DeKalb Decatur 1965 190

Atlanta North Point Mall Alpharetta 1993 250

Atlanta Northlake Mall Atlanta 1971 192

Atlanta Northpoint Furniture Alpharetta 2000 71

Atlanta Perimeter Furniture Atlanta 1986 87

Atlanta Perimeter Mall Atlanta 1971 280

Atlanta Southlake Mall Morrow 1976 233

Atlanta Town Center at Cobb Kennesaw 1986 255

Atlanta Town Center at Cobb F/M Kennesaw 2003 243

Augusta Augusta Mall Augusta 1978 166

Columbus Peachtree Mall Columbus 2002 139

Macon Macon Mall Macon 1975 158

Savannah Oglethorpe Mall Savannah 1992 143

HAWAII SOUTHWEST REGIONHonolulu Ala Moana Honolulu 1966 325

Honolulu Ala Moana Jewel Gallery Honolulu 1986 2

Honolulu Honolulu (Downtown) Honolulu 1850 80

Honolulu Kahala Honolulu 1958 91

Honolulu Kahala M Honolulu 1958 15

Honolulu Kailua Kailua 1946 59

Honolulu Pearlridge Aiae 1971 166

Honolulu Waikiki Honolulu 1937 37

Honolulu Windward Kaneohe 1982 87

Island of Hawaii Kings Shops Waikoloa 1992 10





HAWAII SOUTHWEST REGION continuedIsland of Hawaii Makalapua Kailua-Kona 1997 52

Island of Hawaii Prince Kuhio Plaza Hilo 1985 50

Island of Hawaii Prince Kuhio Plaza H/K/M Hilo 2003 62

Kauai Kukui Grove Lihue 1992 50

Kauai Kukui Grove H/M Lihue 2003 25

Maui Hyatt Regency Kaanapali 1983 7

Maui Queen Kaahumanu Center Kahulu 1972 80

Maui Queen Kaahumanu Center H/K/M Kahulu 2003 86

IDAHO NORTHWEST REGIONBoise Boise Town Square Boise 1988 180

Boise Nampa Gateway Center Nampa 1905 104

Coeur d’Alene Silver Lake Mall Coeur d’Alene 2002 52

Idaho Falls Grand Teton Mall Idaho Falls 1984 60

Lewiston Lewiston Center Lewiston 1978 49

Moscow Palouse Mall Moscow 1979 41

Twin Falls Magic Valley Mall Twin Falls 1987 61

ILLINOIS NORTH REGIONBloomington Eastland Mall Bloomington 1999 154

Carbondale University Mall Carbondale 1991 109

Champaign Market Place Shopping Center Champaign 1999 191

Chicago Fox Valley Aurora 1975 253

Chicago Hawthorn Center Vernon Hills 1973 240

Chicago Louis Joliet Joliet 1978 126

Chicago Northbrook Court Northbrook 1995 286

Chicago Oak Brook Furniture Oak Brook 1996 106

Chicago Oakbrook Center Oak Brook 1962 378

Chicago Old Orchard Skokie 1956 461

Chicago Orland Square Orland Park 1976 198

Chicago River Oaks Center Calumet City 1966 253

Chicago Spring Hill Mall West Dundee 1980 123

Chicago State Street Chicago 1868 2,048

Chicago Stratford Square Mall Bloomingdale 1981 149

Chicago The Promenade Bolingbrook Bolingbrook 2007 207

Chicago Water Tower Place Chicago 1975 323

Chicago Westridge Court Furniture Clearance Naperville 2007 50

Chicago Woodfi eld Furniture Schaumburg 1996 106

Chicago Woodfi eld Mall Schaumburg 1971 316

Peoria Northwoods Mall Peoria 1985 165

Rockford CherryVale Mall Rockford 1973 154

Springfi eld White Oaks Mall Springfi eld 1977 161

St. Louis Alton Square Mall Alton 1978 180

St. Louis St. Clair Square Fairview Heights 1973 248

INDIANA MIDWEST REGIONBloomington College Mall Bloomington 1982 90

Fort Wayne Glenbrook Square Fort Wayne 1966 251

Indianapolis Castleton Square Indianapolis 1973 310

Indianapolis Glendale Mall Indianapolis 1958 235

Indianapolis Greenwood Park Mall Greenwood 1980 160

Lafayette Tippecanoe Mall Lafayette 1994 140

Muncie Muncie Mall Muncie 1996 120

South Bend University Park Mall Mishawaka 1979 169

Terre Haute Honey Creek Mall Terre Haute 1998 177

NORTH REGIONChicago Southlake Merrillville 1978 165

Evansville Eastland Mall Evansville 1982 171

KANSAS SOUTH CENTRAL REGIONKansas City Metcalf South Shopping Center Overland Park 1967 216

Kansas City Oak Park Furniture Overland Park 2002 25

Kansas City Oak Park Mall Overland Park 2002 165

Kansas City Prairie Village Prairie Village 1958 133

Kansas City Town Center Plaza Leawood 2004 124

Topeka West Ridge Mall Topeka 1988 193

KENTUCKY MIDWEST REGIONBowling Green Greenwood Mall Bowling Green 1980 124

Cincinnati Florence Mall Florence 1977 147

Cincinnati Florence Mall Home Florence 1994 112

Lexington Fayette Mall Lexington 1971 279

Louisville Jefferson Mall Louisville 1979 157

Louisville Oxmoor Center Louisville 1970 278

NORTH REGIONOwensboro Towne Square Mall Owensboro 1998 102

LOUISIANA SOUTH CENTRAL REGIONBaton Rouge Cortana Baton Rouge 1976 243

Baton Rouge Mall of Louisiana Baton Rouge 1997 220

Lafayette Acadiana Mall Lafayette 1979 186

New Orleans Esplanade Kenner 2008 188

New Orleans Lakeside New Orleans 2008 229

MAINE NORTHEAST REGIONBangor Bangor Mall Bangor 1998 143

Portland Maine Mall South Portland 1969 194





MARYLAND MID-ATLANTIC REGION Baltimore Annapolis Mall Annapolis 1979 202

Baltimore Harford Mall Bel Air 1981 141

Baltimore Harford Mall Furniture Bel Air 1981 25

Baltimore Mall in Columbia Columbia 1975 228

Baltimore Marley Station Glen Burnie 1987 164

Baltimore Owings Mills Mall Owings Mills 1986 164

Baltimore Security Square Baltimore 1979 155

Baltimore Towson Town Center Towson 1982 204

Baltimore White Marsh Home Baltimore 2006 59

Baltimore White Marsh Mall Baltimore 1991 165

Hagerstown Valley Mall Hagerstown 1999 120

Salisbury Centre at Salisbury Salisbury 1991 138

Washington, D.C. Bowie Town Center Bowie 2001 160

Washington, D.C. Francis Scott Key Mall Frederick 1993 141

Washington, D.C. Lakeforest Mall Gaithersburg 1978 170

Washington, D.C. Laurel Mall Laurel 1981 123

Washington, D.C. Mall at Prince Georges Hyattsville 1958 177

Washington, D.C. Marlow Heights Shopping Center Marlow Heights 1960 160

Washington, D.C. Montgomery Bethesda 1968 213

Washington, D.C. Montgomery Home Bethesda 1968 76

Washington, D.C. St. Charles Towne Center Waldorf 1990 179

Washington, D.C. St. Charles Towne Home Waldorf 1990 54

Washington, D.C. Wheaton Wheaton 2005 174

MASSACHUSETTS NORTHEAST REGIONBoston Belmont Belmont 1978 75

Boston Boston (Downtown) Boston 2007 385

Boston Burlington Mall Burlington 1968 255

Boston Cambridgeside Galleria Cambridge 1990 91

Boston Cambridgeside Galleria H/K Cambridge 1990 40

Boston Framingham Furniture Framingham 1994 41

Boston Hanover Furniture Hanover 1972 13

Boston Hanover Mall Hanover 1972 110

Boston Independence Mall Kingston 1989 149

Boston Natick Collection Natick 1965 210

Boston Northshore Mall Peabody 1993 216

Boston Northshore Mall F/M Peabody 2007 115

Boston South Shore Plaza Braintree 1961 255

Boston Square One Mall Saugus 1994 179

Boston Westgate Mall Brockton 2003 144

Cape Cod Cape Cod Mall Hyannis 1978 81

Cape Cod Cape Cod Mall F/H/K/M Hyannis 2007 119

Pittsfi eld Berkshire Mall Lanesborough 1994 111

Providence Dartmouth Mall Dartmouth 2004 141

Providence Emerald Square North Attleboro 1989 185

Providence Emerald Square F/H/M North Attleboro 1989 120

Providence Silver City Galleria Taunton 1992 152

Providence Swansea Mall Swansea 1988 102

Springfi eld Eastfi eld Mall Springfi eld 1994 127

Springfi eld Holyoke Mall at Ingleside Holyoke 1995 202

Worcester Auburn Home Auburn 1997 88

MASSACHUSETTS NORTHEAST REGION continuedWorcester Auburn Mall Auburn 1997 167

Worcester Mall at Whitney Field Leominster 2002 140

Worcester Solomon Pond Mall Marlborough 1996 200

MICHIGAN NORTH REGIONAnn Arbor Briarwood Mall Ann Arbor 1974 189

Battle Creek Lakeview Square Mall Battle Creek 1983 102

Detroit Birchwood Mall Ft. Gratiot 1997 103

Detroit Eastland Center Harper Woods 1957 433

Detroit Fairlane Town Center Dearborn 1976 241

Detroit Lakeside Mall Sterling Heights 1978 207

Detroit Lakeside Mall H/M Sterling Heights 1978 119

Detroit Northland Center Southfi eld 1954 504

Detroit Oakland Mall Troy 1968 442

Detroit Somerset Collection Troy 1996 316

Detroit Southland Taylor 1970 283

Detroit Twelve Oaks Novi 1977 300

Detroit Westland Shopping Center Westland 1965 334

Flint Genesee Valley Center Flint 1970 266

Grand Rapids RiverTown Crossings Grandville 1999 171

Grand Rapids Woodland Shopping Center Grand Rapids 1975 162

Kalamazoo The Crossroads Portage 1980 122

Lansing Lansing Mall Lansing 1979 103

Lansing Meridian Mall Okemos 1982 154

Saginaw Fashion Square Saginaw 1976 123

Traverse City Grand Traverse Mall Traverse City 1992 103

MINNESOTA NORTH REGIONMinneapolis-St. Paul Burnsville Center Burnsville 1977 224

Minneapolis-St. Paul Mall of America Bloomington 1992 320

Minneapolis-St. Paul Maplewood Mall Maplewood 1996 230

Minneapolis-St. Paul Minneapolis (Downtown) Minneapolis 1902 1,276

Minneapolis-St. Paul Ridgedale Minnetonka 1974 202

Minneapolis-St. Paul Ridgedale H/M Minnetonka 1974 129

Minneapolis-St. Paul Rosedale Center Roseville 1969 270

Minneapolis-St. Paul Rosedale Furniture Roseville 1976 53

Minneapolis-St. Paul Southdale Center Edina 1956 426

Minneapolis-St. Paul Southdale Furniture Edina 1978 93

Minneapolis-St. Paul St. Paul (Downtown) St. Paul 1963 362

Rochester Apache Mall Rochester 1972 163

St. Cloud Crossroads Center St. Cloud 1976 101

MISSOURI NORTH REGIONCape Girardeau West Park Mall Cape Girardeau 1981 108

St. Louis Chesterfi eld Mall Chesterfi eld 1995 269

St. Louis Jamestown Mall Florissant 1994 200

St. Louis Mid Rivers Mall St. Peters 1981 211

St. Louis South County Mall St. Louis 1963 205

St. Louis St. Louis (Downtown) St. Louis 1924 675

St. Louis St. Louis Galleria St. Louis 1991 277

St. Louis West County Mall Des Peres 2001 275





MISSOURI continuedSOUTH CENTRAL REGIONColumbia The Shoppes at Stadium Columbia 2003 140

Joplin Northpark Mall Joplin 1987 85

Joplin Northpark Mall H/M Joplin 1994 55

Kansas City Independence Center Independence 1986 198

Kansas City Lee’s Summit Kansas City 2009 122

Kansas City Metro North Mall Kansas City 1976 222

Springfi eld Battlefi eld Mall Springfi eld 1982 135

MONTANA NORTHWEST REGION Bozeman Gallatin Valley Mall Bozeman 1980 51

Helena Northside Center Helena 2001 65

NEVADA NORTHWEST REGIONReno Meadowood Mall Reno 1978 167

Reno Meadowood Mall H/M Reno 1979 102

Reno Reno Furniture Reno 1994 52

SOUTHWEST REGION Las Vegas Boulevard Las Vegas 1966 178

Las Vegas Fashion Show Las Vegas 1981 201

Las Vegas Galleria at Sunset Henderson 1996 229

Las Vegas Las Vegas Home Las Vegas 1994 111

Las Vegas Meadows Mall Las Vegas 1978 165

NEW HAMPSHIRE NORTHEAST REGION Boston Fox Run Mall H/K/M Newington 1983 78

Boston Fox Run Mall Newington 1983 60

Boston Mall at Rockingham Park Salem 1991 166

Manchester Bedford Bedford 1966 180

Manchester Mall of New Hampshire Manchester 1996 166

Manchester Pheasant Lane Mall Nashua 1993 150

NEW JERSEY MID-ATLANTIC REGION Atlantic City Hamilton Mall Mays Landing 1987 259

New York Bridgewater Commons Bridgewater 1988 259

New York Brunswick Square East Brunswick 1970 244

New York Essex Green Shopping Center West Orange 1975 93

New York Freehold Raceway Mall Freehold 1998 244

New York Ledgewood Mall Ledgewood 1994 73

New York Livingston Mall Livingston 1971 266

New York Menlo Park Mall Edison 1959 351

New York Middlesex Mall South Plainfi eld 1976 81

New York Monmouth Mall Eatontown 1960 290

New York Newport Centre Jersey City 2002 230

New York Ocean County Mall Toms River 1977 170

New York Preakness Shopping Center Wayne 1963 81

New York Rockaway Townsquare Rockaway 1977 262

New York Rte. 1 Furniture North Brunswick 1995 38

NEW JERSEY MID-ATLANTIC REGION continued New York Rte. 22 Furniture Springfi eld 1962 40

New York Rte. 35 Furniture Eatontown 1980 37

New York Rte. 46 Furniture Wayne 1972 63

New York Short Hills Short Hills 1981 279

New York Willowbrook Wayne 1967 380

New York Woodbridge Center Woodbridge 1971 278

Philadelphia Cherry Hill Furniture Maple Shade 2001 61

Philadelphia Cherry Hill Mall Cherry Hill 1962 334

Philadelphia Deptford Mall Deptford 1975 208

Philadelphia Moorestown Mall Moorestown 1999 200

Philadelphia Voorhees Town Center Voorhees 1970 224

Trenton Quaker Bridge Mall Lawrenceville 1976 215

NORTHEAST REGIONNew York Garden State Plaza Paramus 1957 485

New York Paramus Furniture Paramus 2000 77

New York Paramus Park Paramus 1974 303

NEW MEXICO SOUTH CENTRAL REGION Albuquerque Coronado Center Albuquerque 1976 157

Albuquerque Cottonwood Mall Albuquerque 1996 173

NEW YORK NORTHEAST REGION Albany Colonie Center Albany 1990 341

Albany Crossgates Mall Albany 1985 202

Albany Rotterdam Square Schenectady 1995 120

Kingston Hudson Valley Mall Kingston 1995 121

New York Broadway Mall Hicksville 1956 309

New York Brooklyn Brooklyn 1865 1,012

New York Carle Place Furniture Carle Place 1971 86

New York Carle Place Furniture Clearance Carle Place 1971 51

New York Commack Shopping Center Commack 1981 208

New York Cross County Shopping Center Yonkers 1987 355

New York Douglaston Douglaston 1981 158

New York Flushing Flushing 1951 277

New York Green Acres Mall Valley Stream 1986 274

New York Green Acres Mall F/M Valley Stream 2004 116

New York Hampton Bays Hampton Bays 1981 50

New York Herald Square New York 1902 2,169

New York Jefferson Valley Mall Yorktown Heights 1987 121

New York Kings Plaza Shopping Center Brooklyn 1970 339

New York Manhasset Manhasset 1965 331

New York Nanuet Mall Nanuet 1969 227

New York Palisades Center West Nyack 1998 204

New York Parkchester Bronx 1941 171

New York Queens Center Elmhurst 1995 373

New York Queens Furniture Elmhurst 2001 64

New York Roosevelt Field Garden City 1956 461

New York Smith Haven Lake Grove 1969 326





NEW YORK NORTHEAST REGION continuedNew York Smith Haven Furniture Lake Grove 2007 51

New York Southshore Bay Shore 1963 318

New York Staten Island Furniture Staten Island 2003 51

New York Staten Island Mall Staten Island 1965 272

New York Sunrise Mall Massapequa 1973 213

New York Walt Whitman Mall Huntington Station 1962 308

New York White Plains Galleria White Plains 1980 315

Poughkeepsie Galleria at Crystal Run Middletown 1992 181

Poughkeepsie Poughkeepsie Galleria Poughkeepsie 1987 165

Syracuse Carousel Center Syracuse 1990 165

Syracuse Great Northern Mall Clay 1989 88

Syracuse ShoppingTown Mall DeWitt 1993 120

Utica Sangertown Square New Hartford 1995 140

MIDWEST REGIONBinghamton Oakdale Mall Johnson City 2000 140

Buffalo Boulevard Mall Amherst 1983 181

Buffalo Boulevard Mall M Amherst 1983 41

Buffalo Eastern Hills Mall Williamsville 1971 127

Buffalo McKinley Mall Buffalo 1989 88

Buffalo McKinley Mall Home Buffalo 1989 31

Buffalo Walden Galleria Cheektowanga 1988 190

Elmira Arnot Mall Horsehead 1995 120

Rochester Eastview Victor 1971 175

Rochester Mall at Greece Ridge Greece 1995 122

Rochester Mall at Greece Ridge Home Greece 1995 42

Rochester Medley Centre Rochester 1990 129

Rochester The Marketplace Rochester 1982 149

NORTH CAROLINA SOUTHEAST REGIONCharlotte Carolina Place Pineville 1993 151

Charlotte Northlake Mall Charlotte 2005 165

Charlotte SouthPark Mall Charlotte 1988 201

Durham Northgate Mall Durham 1994 187

Durham Streets at Southpoint Durham 2001 180

Fayetteville Cross Creek Mall Fayetteville 1975 133

Greensboro Friendly Center Greensboro 1958 147

Greensboro Wendover Greensboro 2002 141

Raleigh Cary Towne Center Cary 1991 107

Raleigh Crabtree Valley Mall Raleigh 1995 175

Raleigh Triangle Town Center Raleigh 2002 180

Winston-Salem Hanes Mall Winston-Salem 1990 155

NORTH DAKOTA NORTH REGIONFargo West Acres Fargo 1973 118

Grand Forks Columbia Mall Grand Forks 1978 99

OHIO MIDWEST REGIONAkron Chapel Hill Shopping Center Akron 1967 169

Akron Stow-Kent Plaza Stow 1965 82

Akron Summit Mall Akron 1965 195

Canton Belden Village Canton 1971 133

Cincinnati Anderson Towne Center Cincinnati 1969 162

Cincinnati Fountain Place Cincinnati 1997 186

Cincinnati Kenwood Furniture Cincinnati 1989 71

Cincinnati Kenwood Towne Centre Cincinnati 1988 269

Cincinnati Northgate Mall Cincinnati 1993 191

Cincinnati Tri-County Mall Cincinnati 1960 235

Cleveland Great Lakes Mall Mentor 1964 190

Cleveland Great Northern North Olmsted 1965 231

Cleveland Midway Mall Elyria 1990 105

Cleveland Parmatown Parma 1960 288

Cleveland Richmond Town Square Richmond Heights 1998 165

Cleveland SouthPark Strongsville 1996 186

Cleveland University Square University Heights 2002 165

Columbus Eastland Furniture Clearance Columbus 1972 72

Columbus Eastland Mall Columbus 2006 121

Columbus Easton Town Center Columbus 2001 245

Columbus Kingsdale Shopping Center Columbus 1970 108

Columbus Mall at Tuttle Crossing Dublin 1997 225

Columbus Mall at Tuttle Crossing F Dublin 2003 227

Columbus Polaris Fashion Place Columbus 2001 180

Columbus Tuttle Furniture Dublin 1996 41

Dayton Dayton Mall Dayton 1969 263

Dayton Fairfi eld Commons Dayton 1994 152

Lima Lima Mall Lima 1971 195

Mansfi eld Richland Mall Mansfi eld 1969 140

Sandusky Sandusky Mall Sandusky 1979 133

Springfi eld Upper Valley Mall Springfi eld 1971 156

Steubenville Fort Steuben Mall Steubenville 1974 132

nc.





OHIO MIDWEST REGION continuedWheeling Ohio Valley Mall St. Clairsville 1979 101

Youngstown Eastwood Mall Niles 1969 157

Youngstown Southern Park Mall Youngstown 1970 189

NORTH REGIONToledo Franklin Park Toledo 1971 187

OKLAHOMA SOUTH CENTRAL REGION Oklahoma City Penn Square Mall Oklahoma City 1988 161

Oklahoma City Quail Springs Mall Oklahoma City 1986 146

Tulsa Tulsa Promenade Tulsa 1996 180

Tulsa Woodland Hills Tulsa 1982 160

OREGON NORTHWEST REGION Bend Bend River Mall Bend 1980 105

Coos Bay Pony Village Mall North Bend 1980 41

Eugene Valley River Center Eugene 1990 188

Medford Rogue Valley Mall Medford 1986 111

Medford Rogue Valley Mall Home Medford 1986 45

Portland Clackamas Town Center Portland 1980 199

Portland Clackamas Town Center Home Portland 1980 169

Portland Lloyd Center Portland 1966 298

Portland Portland (Downtown) Portland 2007 246

Portland Streets of Tanasbourne Hillsboro 2004 172

Portland Washington Square Portland 1973 260

Portland Washington Square Furniture Portland 2008 76

Roseburg Roseburg Valley Mall Roseburg 1980 40

Salem Lancaster Mall Salem 1980 67

Salem Salem Center Salem 1966 188

PENNSYLVANIA MID-ATLANTIC REGION Allentown Lehigh Valley Mall Whitehall 1976 218

Harrisburg Capital City Mall Camp Hill 1995 120

Harrisburg Harrisburg Mall Harrisburg 1995 191

Philadelphia Exton Square Mall Exton 1973 184

Philadelphia King of Prussia King of Prussia 1991 256

Philadelphia Montgomery Mall North Wales 1978 220

Philadelphia Neshaminy Mall Bensalem 1968 211

Philadelphia Oxford Valley Mall Langhorne 1973 197

Philadelphia Philadelphia City Center Philadelphia 1911 386

Philadelphia Plymouth Meeting Mall Plymouth Meeting 1966 214

Philadelphia Roosevelt Mall Philadelphia 1995 311

Philadelphia Springfi eld Mall Springfi eld 1974 192

Philadelphia Suburban Square Ardmore 1930 102

Philadelphia Willow Grove Park Willow Grove 2001 226

York West Manchester Mall York 1995 120

PENNSYLVANIA MIDWEST REGIONAltoona Logan Valley Mall Altoona 1995 150

Erie Millcreek Mall Erie 1975 163

Pittsburgh Beaver Valley Mall Monaca 1987 203

Pittsburgh Century III Mall West Miffl in 1979 173

Pittsburgh Galleria at Pittsburgh Mills Tarentum 2005 173

Pittsburgh Monroeville Mall Monroeville 1969 263

Pittsburgh Pittsburgh (Downtown) Pittsburgh 1946 1,158

Pittsburgh Ross Park Furniture Pittsburgh 1997 48

Pittsburgh Ross Park Mall Pittsburgh 1986 229

Pittsburgh South Hills Village Bethel Park 1965 260

Pittsburgh South Hills Village Furniture Bethel Park 1993 21

Pittsburgh The Mall at Robinson Pittsburgh 1998 205

Pittsburgh The Waterfront Homestead 2003 142

Pittsburgh Washington Crown Center Washington 1999 148

Pittsburgh Westmoreland Furniture Greensburg 1976 24

Pittsburgh Westmoreland Mall Greensburg 1976 168

Scranton-Wilkes-Barre Viewmont Mall Scranton 1995 140

Scranton-Wilkes-Barre Wyoming Valley Mall Wilkes-Barre 1995 96

Scranton-Wilkes-Barre Wyoming Valley Mall H/M Wilkes-Barre 1995 51

State College Nittany Mall State College 1999 98

Williamsport Lycoming Mall Muncy 1995 120

Youngstown Shenango Valley Mall Hermitage 1976 106

RHODE ISLAND NORTHEAST REGIONProvidence Providence Place Providence 1999 201

Providence Warwick Mall Warwick 1970 186

SOUTH CAROLINA SOUTHEAST REGION Columbia Columbia Mall Columbia 1978 186

Greenville Haywood Mall Greenville 1980 152

SOUTH DAKOTA NORTH REGIONSioux Falls Empire Mall Sioux Falls 1971 101

TENNESSEE MIDWEST REGION Jackson Old Hickory Mall Jackson 1981 160

Memphis Oak Court Memphis 1961 399

Memphis Southland Mall Memphis 1966 150

Memphis The Avenue Carriage Crossing Collierville 2007 130

Memphis Wolfchase Galleria Memphis 1997 266

Nashville Cool Springs Galleria Franklin 1991 270

Nashville Hickory Hollow Antioch 1979 181

Nashville Mall at Green Hills Nashville 2004 179

Nashville Rivergate Mall Goodlettsville 1971 204





TEXAS SOUTH CENTRAL REGION Austin Barton Creek Square Austin 1982 225

Austin Lakeline Mall Cedar Park 1995 180

Austin The Domain Austin 2007 140

Beaumont Parkdale Mall Beaumont 2002 171

College Station Post Oak Mall College Station 1984 105

Corpus Christi Padre Staples Mall Corpus Christi 1987 199

Dallas-Fort Worth Collin Creek Mall Plano 1980 199

Dallas-Fort Worth Dallas Galleria Dallas 1985 268

Dallas-Fort Worth Fairview Fairview 2009 122

Dallas-Fort Worth Firewheel Town Center Garland 2005 141

Dallas-Fort Worth Golden Triangle Denton 2003 114

Dallas-Fort Worth Hulen Mall Ft. Worth 1977 215

Dallas-Fort Worth Irving Mall Irving 1989 188

Dallas-Fort Worth North East Mall Hurst 2001 240

Dallas-Fort Worth NorthPark Center Dallas 2000 250

Dallas-Fort Worth Parks at Arlington Arlington 1990 201

Dallas-Fort Worth Ridgmar Mall Ft. Worth 1998 181

Dallas-Fort Worth Shops at Willow Bend Plano 2001 239

Dallas-Fort Worth Southwest Center Mall Dallas 1975 148

Dallas-Fort Worth Stonebriar Centre Frisco 2000 201

Dallas-Fort Worth Town East Mall Mesquite 1972 196

Dallas-Fort Worth Vista Ridge Mall Lewisville 1991 181

El Paso Cielo Vista Mall El Paso 2002 187

El Paso Sunland Park Mall El Paso 2004 105

Houston Almeda Houston 1966 150

Houston Baybrook Mall Friendswood 2004 244

Houston Deerbrook Humble 1984 204

Houston First Colony Mall Sugar Land 1996 202

Houston Galleria Houston 1986 256

Houston Galleria H/K/M Houston 2003 248

Houston Greenspoint Mall Houston 1976 314

Houston Houston (Downtown) Houston 1947 791

Houston Houston Furniture Clearance Houston 2005 43

Houston Mall of the Mainland Texas City 1994 151

Houston Memorial City Mall Houston 2001 300

Houston Pasadena Town Square Pasadena 1962 209

Houston Pearland Houston 2008 140

Houston San Jacinto Mall Baytown 1980 157

Houston West Oaks Mall Houston 1982 243

Houston Willowbrook Mall Houston 1981 248

Houston Willowbrook Mall F/M Houston 2002 91

Houston Woodlands Mall The Woodlands 1994 201

Houston Woodlands Mall K The Woodlands 2001 18

Houston Woodlands Mall Furniture The Woodlands 2002 19

Killeen-Temple Temple Mall Temple 1995 111

Laredo Mall Del Norte Laredo 1996 113

Laredo Mall Del Norte Home Laredo 1996 33

McAllen La Plaza Mall McAllen 1997 181

McAllen La Plaza Mall H/K McAllen 1997 50

San Antonio Ingram Park Furniture San Antonio 1983 59

San Antonio Ingram Park Mall San Antonio 1983 150

TEXAS SOUTH CENTRAL REGION continuedSan Antonio North Star Mall San Antonio 1981 278

San Antonio Rivercenter San Antonio 1989 96

San Antonio Rolling Oaks Shopping Center San Antonio 1992 179

San Antonio Shops at La Cantera San Antonio 2005 166

San Antonio South Park Mall San Antonio 2000 120

Tyler Broadway Square Tyler 1981 100

UTAH NORTHWEST REGION Ogden Layton Hills Mall Layton 1980 162

Provo University Mall Orem 1972 208

Salt Lake City Cottonwood Mall Salt Lake City 1962 200

Salt Lake City Fashion Place Mall Murray 1988 26

Salt Lake City South Towne Center Sandy 1986 201

Salt Lake City Valley Fair Mall West Valley City 1970 106

VERMONT NORTHEAST REGIONBurlington Burlington Town Center Burlington 1999 152

VIRGINIA MID-ATLANTIC REGION Lynchburg River Ridge Mall Lynchburg 1980 144

Richmond Chesterfi eld Towne Center Richmond 1990 143

Richmond Regency Square Richmond 1990 100

Richmond Regency Square F/H/K/M Richmond 1990 124

Richmond Short Pump Town Center Richmond 2003 202

Richmond Southpark Mall Colonial Heights 1989 104

Richmond Virginia Center Commons Glen Allen 1993 110

Roanoke Valley View Mall Roanoke 1985 101

Roanoke Valley View Mall H/K Roanoke 2001 47

Virginia Beach-Norfolk Chesapeake Square Chesapeake 1999 95

Virginia Beach-Norfolk Coliseum Mall Hampton 1977 173

Virginia Beach-Norfolk Greenbrier Mall Chesapeake 1990 145

Virginia Beach-Norfolk Lynnhaven Mall Virginia Beach 1998 200

Virginia Beach-Norfolk Military Circle Shopping Center Norfolk 1976 153

Virginia Beach-Norfolk Patrick Henry Newport News 1998 141

Washington, D.C. Ballston Common Furniture Arlington 1959 103

Washington, D.C. Ballston Common Mall Arlington 1959 352

Washington, D.C. Dulles Town Center Dulles 1998 181

Washington, D.C. Fair Oaks Mall Fairfax 1980 220

Washington, D.C. Fair Oaks Mall F Fairfax 2000 254

Washington, D.C. Fashion Centre at Pentagon City Arlington 1989 307

Washington, D.C. Landmark Mall Alexandria 1965 201

Washington, D.C. Manassas Mall Manassas 1996 139

Washington, D.C. Spotsylvania Towne Centre Fredericksburg 1993 146

Washington, D.C. Springfi eld Mall Springfi eld 1991 287

Washington, D.C. Tysons Corner Center McLean 1968 243

Washington, D.C. Tysons Galleria McLean 1988 265





WASHINGTON NORTHWEST REGIONBellingham Bellingham Home Bellingham 1991 40

Bellingham Bellis Fair Bellingham 1988 120

Bremerton Kitsap Mall Silverdale 1985 120

Bremerton Siverdale Home Silverdale 1995 40

Longview Three Rivers Mall Kelso 1987 51

Olympia Capital Mall Olympia 1978 113

Olympia Olympia Furniture Olympia 1996 40

Portland Vancouver Mall Vancouver 1977 180

Seattle-Tacoma Alderwood Furniture Lynnwood 1985 40

Seattle-Tacoma Alderwood Mall Lynnwood 1979 248

Seattle-Tacoma Bellevue Square Bellevue 1984 227

Seattle-Tacoma Bellevue Square Home Bellevue 1984 51

Seattle-Tacoma Budget House Furniture Clearance Tukwila 1974 33

Seattle-Tacoma Commons at Federal Way Federal Way 1977 141

Seattle-Tacoma Everett Mall Everett 1977 133

Seattle-Tacoma Northgate Mall Seattle 1950 319

Seattle-Tacoma Redmond Home Redmond 1987 40

Seattle-Tacoma Redmond Town Center Redmond 2003 112

Seattle-Tacoma Seattle Seattle 1929 864

Seattle-Tacoma South Hill Mall Puyallup 1994 115

Seattle-Tacoma Southcenter Seattle 1968 265

Seattle-Tacoma Tacoma Home Tacoma 2003 53

Seattle-Tacoma Tacoma Mall Tacoma 1964 257

Seattle-Tacoma Tukwila Home Tukwila 1981 49

Skagit County Cascade Mall Burlington 1989 62

Skagit County Cascade Mall H/K/M Burlington 2004 51

Spokane NorthTown Spokane 1993 106

Spokane Spokane Spokane 1947 374

Spokane Spokane Valley Mall Spokane Valley 1997 122

Tri-Cities Columbia Center Kennewick 1969 122

Tri-Cities Columbia Center K/M Kennewick 2002 40

Tri-Cities Columbia Home Kennewick 2004 40

Walla Walla Walla Walla Walla Walla 1944 69

Wenatchee Wenatchee Valley Mall East Wenatchee 2001 87

Yakima Valley Mall Union Gap 2002 119

WEST VIRGINIA MIDWEST REGION Charleston Charleston Town Center Charleston 1983 147

Huntington Huntington Mall Barboursville 1981 162

WISCONSIN NORTH REGIONAppleton Fox River Mall Appleton 1991 168

Eau Claire Oakwood Mall Eau Claire 1991 104

La Crosse Valley View Mall LaCrosse 1980 101

Madison Hilldale Shopping Center Madison 1962 172

Milwaukee Mayfair Wauwatosa 1959 284

WYOMING NORTHWEST REGION Casper Eastridge Mall Casper 1983 61

WASHINGTON, D.C. MID-ATLANTIC REGION Washington, D.C. Metro Center Washington, D.C. 1985 272

GUAM SOUTHWEST REGIONGuam Micronesia Mall Dededo 1994 88

Guam Micronesia Mall H/K/M Dededo 2009 69

PUERTO RICO SOUTHEAST REGIONSan Juan Plaza Las Americas San Juan 2000 254

Includes: H = Home • M = Men’s 50 | Macy’s, Inc.



BLOOMINGDALE’S STORE LOCATIONS

CALIFORNIALos Angeles-Orange Co. Beverly Center Los Angeles 1997 163

Los Angeles-Orange Co. Century City Los Angeles 1996 235

Los Angeles-Orange Co. Fashion Island Newport Beach 1996 172

Los Angeles-Orange Co. Fashion Island Home Newport Beach 1996 68

Los Angeles-Orange Co. Santa Monica Place Santa Monica 2010 101

Los Angeles-Orange Co. Sherman Oaks Sherman Oaks 1996 229

Los Angeles-Orange Co. South Coast Plaza Costa Mesa 2007 291

San Diego Fashion Valley San Diego 2006 226

San Francisco-Oakland San Francisco Centre San Francisco 2006 335

San Jose Stanford Shopping Center Palo Alto 1996 229

FLORIDAMiami-Palm Beach Aventura Mall Aventura 1997 252

Miami-Palm Beach The Falls Miami 1984 228

Miami-Palm Beach The Gardens Mall Palm Beach Gardens 1990 235

Miami-Palm Beach Town Center at Boca Raton Boca Raton 1986 270

Orlando Mall at Millenia Orlando 2002 237

GEORGIAAtlanta Lenox Square Atlanta 2003 281

Atlanta Perimeter Mall Atlanta 2003 234

ILLINOISChicago Medinah Home Chicago 2003 130

Chicago North Michigan Ave. Chicago 1988 256

Chicago Oakbrook Furniture Oak Brook 2003 93

Chicago Old Orchard Skokie 1995 206

MARYLANDWashington, D.C. White Flint North Bethesda 1977 259

Washington, D.C. Wisconsin Place Chevy Chase 2007 190

MASSACHUSETTSBoston Mall at Chestnut Hill Chestnut Hill 2006 186

Boston Mall at Chestnut Hill H/M Chestnut Hill 1973 124

MINNESOTAMinneapolis-St. Paul Mall of America Bloomington 1992 233

NEVADALas Vegas Fashion Show Home Las Vegas 2002 99

NEW JERSEYNew York Bridgewater Commons Bridgewater 2002 161

New York Shops at Riverside Hackensack 1959 293

New York Short Hills Short Hills 1967 246

New York Willowbrook Wayne 2002 274

NEW YORKNew York 59th Street New York City 1886 859

New York Roosevelt Field Garden City 1995 309

New York Roosevelt Field Furniture Garden City 2004 69

New York Soho New York City 2004 122

New York Walt Whitman Mall Huntington 1998 231

New York Westchester Furniture Clearance Mt. Pleasant 2004 64

New York White Plains White Plains 1975 300

BLOOMINGDALE’S STORE LOCATIONS

2011 Corporate Fact Book | 51Includes: H = Home • K = Kids


PENNSYLVANIAPhiladelphia King of Prussia (The Court) King of Prussia 1981 248

Philadelphia Willow Grove Park Willow Grove 1982 239

VIRGINIAWashington, D.C. Tysons Corner Center McLean 1976 272

DUBAI*Dubai Dubai Mall Dubai, UAE 2010 146

Dubai Dubai Mall H Dubai, UAE 2010 54

*Stores are operated by Al Tayer Group LLC under a license agreement.

BLOOMINGDALE’S OUTLET STORESMiami-Palm Beach Dolphin Mall Miami, FL 2010 25

Miami-Palm Beach Sawgrass Mills Sunrise, FL 2010 24

New York Bergen Town Center Paramus, NJ 2010 25

Washington, D.C. Potomac Mills Woodbridge, VA 2010 26

2011 BLOOMINGDALE’S OUTLET STORE OPENINGSBoston Wrentham Village Wrentham, MA 2011 24

Chicago Woodfi eld Village Green Schaumburg, IL 2011 24

Ft. Myers Miromar Outlets Estero, FL 2011 25

Domestic:Los Angeles, CA

Orange Co., CA

San Diego, CA

San Francisco, CA

Miami, FL

Orlando, FL

W. Palm Beach/ Boca Raton, FL

Atlanta, GA

Chicago, IL

Boston, MA

Minneapolis, MN

Las Vegas, NV

New Jersey

New York, NY

Philadelphia, PA

Washington, D.C.

BLOOMINGDALE’S MARKETS

International:Dubai, UAE

52 | Macy’s, Inc.

COMPANY HISTORYMACY’S: A HISTORY

No one would have guessed that the small, fancy dry goods store that opened on the corner of 14th Street and 6th Avenue in New York City in 1858 would grow to be one of the largest department store retailers in the world.

But after several failed retail ventures, Rowland Hussey Macy’s determination and ingenuity paid off at the age of 36 with the launch of R.H. Macy & Co. He adopted a red star as his symbol of success, dating back to his days as a sailor. First-day sales totaled $11.06 but by the end of the fi rst full year, sales grossed almost $90,000. By 1877, R.H. Macy & Co. had become a full-fl edged department store occupying the ground space of 11 adjacent buildings.

Always the innovator, Macy’s is known for several fi rsts that changed the retail industry. Macy’s was the fi rst retailer to promote a woman, Margaret Getchell, to an executive position, making business history. Macy’s pioneered such revolutionary business practices as the one-price system, in which the same item was sold to every customer at one price, and quoting specifi c prices for goods in newspaper advertising. Known for its creative merchandising, Macy’s was the fi rst to introduce such products as the tea bag, the Idaho baked potato and colored bath towels. Macy’s also was the fi rst retailer to hold a New York City liquor license.

By November 1902, the store had outgrown its modest storefront and moved uptown to its present Herald Square location on Broadway and 34th Street, establishing an attraction for shoppers from around the world. With the store’s 7th Avenue expansion completed in 1924, Macy’s Herald Square became the “World’s Largest Store,” with more than 1 million square feet of retail space.

By 1918, R.H. Macy & Co. was generating $36 million in annual sales. Yet, the prosperity of the retailer was never more apparent than when the company went public in 1922 and began to open regional stores and take over competing retailers. In 1923, the Toledo-based department store Lasalle & Koch was acquired; the next year, Davison-Paxton in Atlanta was acquired; and in 1936, the Newark-based Bamberger’s was purchased.

To help celebrate their new American heritage, Macy’s immigrant employees organized the fi rst Christmas Parade in 1924. The procession featured fl oats, bands, animals from the zoo and 10,000 onlookers, beginning a time-honored tradition now known as the annual Macy’s Thanksgiving Day Parade.

In 1945, the company expanded west and purchased O’Connor Moffatt and Company in San Francisco. Two years later, O’Connor Moffatt stores, including the landmark Union Square store that opened in 1866, were converted to Macy’s after a survey indicated that San Franciscans would welcome the name.

Macy’s California broke new ground with the fi rst department store fl ower show in 1946. What began as a fragrance promotion in the cosmetics department now annually welcomes the spring season, treating visitors to a botanical, cultural and community spectacle and is held in New York, Chicago, Minneapolis, Philadelphia and Washington, D.C., in addition to San Francisco. In 1971, Macy’s Union Square store’s lower level, once cluttered with bargains, was transformed into “The Cellar,” changing the way customers shop for housewares. Due to its success, the Herald Square store followed suit fi ve years later.

On Dec. 19, 1994, Federated Department Stores, Inc. (now known as Macy’s, Inc.) acquired R.H. Macy & Co., creating the world’s largest premier department store company. Federated Department Stores operated over 400 department stores and more than 157 specialty stores in 37 states.

A & S Department Stores were converted to the Macy’s nameplate in May 1995. Also in 1995, Federated acquired The Broadway Department Stores, bringing Broadway, Emporium and Weinstocks to the Macy’s family, as well as six former I. Magnin stores. Some 46 stores were converted to the Macy’s nameplate. Following the model of A & S, Jordan Marsh Department Stores of Boston, already owned by Federated, was converted to Macy’s in March 1996. In January 2001, Macy’s absorbed 17 Stern’s Department Stores located in New York and New Jersey. In June 2001, Federated purchased the Liberty House operations in Hawaii and Guam, bringing the proud Macy’s tradition and heritage to the Pacifi c.

Macy’s entered 2005 with about 240 locations, primarily on the East and West Coasts. With the conversion of all Federated’s regional store nameplates in March 2005, Macy’s grew to about 425 locations across the country. In September 2006, with the conversion of stores acquired from The May Department Stores Company, Macy’s now serves customers through more than 800 stores in virtually every major geographic market in the United States, as well as the macys.com website.


BLOOMINGDALE’S: A HISTORY

Bloomingdale’s began with a 19th century fad and the extraordinary vision of two brothers. Lyman and Joseph Bloomingdale pioneered nearly every major change in the evolution of department stores – if they weren’t the fi rst with an idea, they simply did it bigger and better than anyone else. Their innovative retailing philosophy guided Bloomingdale’s in its beginning and that strategy continues today, justifi ably earning Bloomingdale’s the reference “Like No Other Store in the World.”

The fi rst retail endeavor of the Bloomingdale brothers was a Ladies’ Notion Shop in New York. In 1872, Bloomingdale’s opened and expanded their East Side Bazaar, selling a variety of women’s fashions. This was a bold move in the era of specialty shops; the Bazaar became a harbinger of the true “department store.” By 1929, Bloomingdale’s covered an entire city block.

Two years later, the glamorous Art Deco edifi ce that still graces Lexington Avenue was completed. In 1949, Bloomingdale’s began its real expansion, opening its fi rst satellite store in Fresh Meadows, Queens, and by 1959, Bloomingdale’s had created a complete circle of stores around the fl agship in New Jersey, Westchester County and Long Island. This dramatic growth continued in the ‘70s and ‘80s with the opening of stores in the Northeast, Florida and Chicago. Bloomingdale’s was on its way to becoming a true national entity. That vision culminated in 1996 with the addition of its fi rst four stores in California, the most ambitious expansion in the company’s history, followed by two new stores in the Atlanta market in 2003.

From the beginning, the Bloomingdale brothers catered to America’s love of international goods, and by the 1880s, their European selection was dazzling. A buying offi ce in Paris in 1886 was the beginning of a network that now spans the globe. The 1960s brought promotions resulting from Bloomingdale’s fascination with the foreign market: the fi rst was a small affair called “Casa Bella,” featuring merchandise for the home from Italy.

Over the next 30 years, the promotions took on a grand scale – including unique merchandise and cultural exhibits that would touch every department in Bloomingdale’s. Major transformation of the Bloomingdale’s image came in the 1960s and 1970s. The promotions were so exciting that the term “Retailing as Theater” was coined to describe Bloomingdale’s “happenings.” It was the era of pet rocks and glacial ice cubes, of visits by movie stars and royalty from Elizabeth Taylor to Queen Elizabeth II.

The new direction in merchandising was both to seek and to create. Buyers covered the world to fi nd exclusive, one-of-

a-kind items. When they couldn’t fi nd what they wanted, they had it made. In fashion, Bloomingdale’s launched new designers and created boutiques for already-famous names. Among the discoveries: Ralph Lauren, Perry Ellis and Norma Kamali – and for the fi rst time in America: Sonia Rykiel, Kenzo and Fendi ready-to-wear. Designers opening their fi rst in-store boutiques at Bloomingdale’s include Yves St. Laurent, Calvin Klein, Claude Montana and Thierry Mugler.

In 1961, Bloomingdale’s made retail history in yet another area by introducing the fi rst designer shopping bag. Artist Joseph Kinigstein was commissioned to create a bag for the “Esprit de France” promotion. Rather than doing the obvious – ladylike fl owers in pastel colors – he reproduced antique French tarot cards in bold red, black and white. Most daring of all, the bag omitted the store name. Even so, it was unmistakably Bloomingdale’s, and the collector’s shopping bag was launched. Since then, both famous and fl edgling artists, architects and ad designers have created Bloomingdale’s bags. Their designs have been featured in art museums all over the world.

In 1971 “model rooms,” a highlight of Bloomingdale’s since 1947, gained worldwide attention. “The Cave,” an intricate multi-level frame sprayed entirely in white polyurethane, was a spectacular example of the lengths to which Bloomingdale’s would go to make a statement of style. Over the years, the model rooms have been showcases for the talents of everyone from architect Frank Gehry to fi lmmaker Federico Fellini.

During the 1970s, Bloomingdale’s was a favorite stop of the international avant-garde, epitomized locally by the “Young East Sider” who lived right in the neighborhood. In 1973, the store wanted to stamp the Bloomingdale’s name on panties to launch an intimate apparel promotion; they chose the company nickname as a nod to the young, trendy crowd, and the “Bloomie’s” logo was born. Soon, New Yorkers were affectionately referring to the city’s second most popular tourist attraction after the Statue of Liberty as “Bloomie’s” and the hottest souvenir in town was anything emblazoned with “Bloomie’s.” From the late ’80s to the present, the economy and retailing has changed – thus changing the buying habits of consumers. As usual, Bloomingdale’s kept up with the times and prepared for the future. Today, there is an increased emphasis on building customer services and relationships, while continuing the unique and exclusive aspects that made Bloomingdale’s world famous.

With a reputation for quality, creativity and uniqueness, Bloomingdale’s has remained at the forefront of retailing worldwide. Bloomingdale’s speaks to its customers in a language they understand: service, selection and fashion, making Bloomingdale’s “Like No Other Store in the World.”

54 | Macy’s, Inc.

MACY’S, INC. HISTORY – CHRONOLOGY

1830 Shillito’s founded in Cincinnati by John Shillito.

1841 Eben Jordan and Benjamin L. Marsh open Jordan Marsh in Boston.

1851 F&R Lazarus & Company founded in Columbus, OH, by Simon Lazarus.

1858 Rowland H. Macy opens R.H. Macy & Co. as a dry goods store in New York City. First-day sales totaled $11.06.

1859 Macy’s fi rst-year sales were approximately $85,000 with an advertising budget of $2,800.

1865 Wechsler & Abraham (later Abraham & Straus) founded in Brooklyn, NY, by Abraham Abraham and Joseph Wechsler.

1867 Rich’s founded in Atlanta by Morris Rich.

Stern Brothers (later Stern’s) founded in Manhattan.

1870 Goldsmith’s founded in Memphis.

1872 Bloomingdale Brothers, Inc. founded in New York City by Lyman and Joseph Bloomingdale. First-day sales totaled $3.68.

1877 David May opens the fi rst store of what was to become The May Department Stores Company in Leadville, CO, a silver-mining boom town.

1888 The Straus family acquires a general partnership with Macy’s.

1890 The Bon Marché founded in Seattle.

1893 The Straus family buys out Joseph Wechsler’s interest in Wechsler & Abraham, changing the store’s name to Abraham & Straus. While A&S did not become part of Macy’s, the two stores kept a close association, even sharing overseas offi ces.

1898 Burdines founded in Miami.

1902 Macy’s moves to Herald Square in New York City.

1905 David May moves the headquarters of his growing retail organization to St. Louis.

1907 Bullock’s founded by John Bullock and P.G. Winnett in Los Angeles.

1910 The May Department Stores Company is incorporated.

1911 The May Department Stores Company is listed on the New York Stock Exchange and opens Famous-Barr in St. Louis.

1923 May Company acquires a department store company in Los Angeles, adding to its growing regional coverage in Akron and Cleveland, OH, and St. Louis.

1924 Macy’s Herald Square location becomes the largest store in the world, following completion of the 7th Avenue addition. Also, 10,000 people watch Macy’s fi rst parade, now known as Macy’s Thanksgiving Day Parade.

1925 Macy’s acquires Davison-Paxon of Atlanta.

1929 Federated Department Stores, Inc. (now known as Macy’s, Inc.) is formed as a holding company by several family-owned department stores, including Abraham & Straus and F&R Lazarus (along with its Cincinnati-based subsidiary, Shillito’s) and Filene’s of Boston. Corporate offi ces established in Columbus, OH.

1930 Bloomingdale’s joins Federated. First-year sales for Federated were $112 million.

1934 A modern merchandising standard is set when Fred Lazarus (son of Simon) arranges garments in groups of a single size with a range of style, color and price in that size, rather than the other way around. Lazarus based this technique upon observations made in Paris.

1935 Boston’s Jordan Marsh is one of the founders of New York City-based Allied Stores Corporation, a successor to Hahn Department Stores, Inc. A holding company founded in 1928, Hahn brought chain store advantages to independent, family-owned department stores.

1939 Fred Lazarus Jr. convinces President Franklin Roosevelt that changing the Thanksgiving holiday from the last Thursday of November to the fourth Thursday, extending the Christmas shopping season, would be good for the nation’s business. A 1941 Act of Congress perpetuated the arrangement.

Federated and Allied stores made shopping easier during diffi cult economic times by offering credit, a “pay when you can” policy and developing a reputation for community involvement in times of crisis.

1945 Federated moves its offi ces to Cincinnati. Macy’s acquires O’Connor Moffat & Company of San Francisco.

1946 In several ways, Shillito’s becomes the fi rst department store to embrace the African-American community. It is the nation’s fi rst department store to give credit to African-Americans, as well as employ them as salespeople and executives. The store’s restaurant is the fi rst in downtown Cincinnati to serve African-American customers.

May Company acquires Kaufmann’s in Pittsburgh.

1947 O’Connor Moffat becomes Macy’s California.

1951 Allied acquires New Jersey’s Stern Brothers, later known as Stern’s.

1956 Miami-based Burdines becomes a division of Federated.

May Company begins operating May D&F in Denver.

1957 Seventeen-year-old designer-to-be Ralph Lauren sells sweaters at Bloomingdale’s over Christmas week. The following year, he joins Allied Stores as assistant menswear buyer.

1959 Federated acquires Dayton, Ohio-based Rike’s and Memphis-based Goldsmith’s.

May Company acquires Hecht’s in Washington, D.C. and Baltimore.

1962 Allied acquires the William H. Block Company of Indianapolis.


1964 Federated breaks the 10-fi gure barrier for the fi rst time, netting annual sales of $1.215 billion. Federated acquires Los Angeles’ Bullock’s and I. Magnin.

1966 May Company acquires Meier & Frank in Portland, OR.

1967 Allied also passes the billion dollar mark, with annual sales of $1.024 billion.

1968 Black Retail Action Group (BRAG), founded in part by Abraham & Straus executives, gives technical assistance to minority-owned businesses and scholarships to retailing students. This furthers the A&S commitment to African-Americans. The company was the country’s fi rst major retailer to sign up for Plans for Progress, President Kennedy’s commission on job opportunities for African-Americans.

1976 Through an exchange of common stock, Federated acquires Atlanta-based Rich’s.

1980 To help meet the civic, health and welfare, educational and cultural needs of the communities Federated serves, the company invests $15 million to establish a foundation.

1982 The merger of Rike’s of Dayton and Shillito’s of Cincinnati results in Shillito-Rikes.

1985 The newly formed Federated Systems Group (then known as The SABRE Group) begins the conversion of all Federated divisions to a common electronic data processing system. (The group is now known as Macy’s Systems and Technology.)

Davison’s of Atlanta changes its name to Macy’s.

1986 A single, billion-dollar organization is formed with the merger of Federated’s Shillito-Rikes of Cincinnati and Columbus-based Lazarus. With headquarters in Cincinnati, the division operates under the Lazarus name.

Campeau Corporation acquires Allied Stores Corporation, which is reorganized under the merger agreement.

In what was then retail’s largest acquisition, May Company acquired Associated Dry Goods and added Lord & Taylor, J.W. Robinson’s and L.S. Ayres, among others, to its collection of regional department stores.

1987 Federated buys Allied’s Indianapolis-based Block’s division, incorporating it into Lazarus.

1988 Campeau Corporation acquires Federated. Several Federated divisions are sold to other retailers. May Company purchases Foley’s and Filene’s. Macy’s purchases Bullock’s and I. Magnin from Campeau. To consolidate with Federated, Allied’s New York headquarters moves to Cincinnati. Allied – operating in tandem with Federated – is comprised of The Bon Marché, Jordan Marsh, Maas Brothers and Stern’s. Goldsmith’s merges into Rich’s, although the Goldsmith’s nameplate is maintained in the Memphis market.

56 | Macy’s, Inc.

1989 Federated forms its Financial, Administrative and Credit Services operation (The FACS Group) in suburban Cincinnati to centralize credit services for all department store divisions. (The group is now known as Macy’s Credit and Customer Services.)

Federated’s employee volunteer program, Partners in Time, is founded at Rich’s/Goldsmith’s as a way to give back to the community.

1990 In January, saddled by debt resulting from the highly leveraged Campeau takeover of Federated, both Federated and Allied fi le for bankruptcy reorganization. The reorganizing of more than $8 billion of debt begins. Allen Questrom becomes chairman and chief executive offi cer, joining James M. Zimmerman, president and chief operating offi cer, to form the senior management team that would resurrect the company.

1991 Divisional consolidations begin. The company’s Florida operations, including all former Maas Brothers/Jordan Marsh stores, operate under the Burdines name, and division headquarters are consolidated in Miami.

1992 A new public company – Federated Department Stores, Inc. – emerges from bankruptcy in February with 220 department stores in 26 states and annual sales of approximately $7 billion. The former Allied Stores Corporation is merged into Federated. A consolidation of the A&S and Jordan Marsh divisions results in the A&S/Jordan Marsh division, headquartered in Brooklyn, NY. Early in the new year, Macy’s fi les for protection under Chapter 11.

1993 Federated announces the centralization of divisional accounting and accounts payable functions in Cincinnati. In addition, a management realignment reconfi gures merchandise distribution for its northeastern divisions.

1994 Federated acquires the Joseph Horne Co. of Pittsburgh, adding 10 Pennsyl-vania stores to its Lazarus division. In December, Federated acquires R.H. Macy & Co., creating the largest department store retailer in the nation. Acquisition approval, granted by U.S. Bankruptcy Court in December, culminates Macy’s three-year reorganization plan.

Macy’s East, headquartered in New York City, merges with A&S/Jordan Marsh to form a $4 billion retailing division of Federated. In San Francisco, Macy’s West continues to operate all West Coast Macy’s and Bullock’s stores, as Federated restores its presence in California and Texas.

Federated announces the discontinuation of the I. Magnin chain and 13 I. Magnin stores are sold or converted to Macy’s or Bullock’s.

1994 Continued. Federated Logistics (now known as

Macy’s Logistics and Operations) is formed to coordinate the company’s distribution facilities and functions in the northeastern United States.

1995 Rich’s/Goldsmith’s and Lazarus are consolidated into one division – Rich’s/Lazarus/Goldsmith’s, based in Atlanta and operating stores in nine southeastern and midwestern states.

Federated acquires Broadway Stores, Inc., based in Los Angeles. Initially, this added 82 Broadway, Emporium and Weinstock’s department stores in California and four other southwestern states with annual sales of more than $2 billion. Federated announces that 56 of these stores will be converted to the Macy’s nameplate. Five others will become Bloomingdale’s, while other locations will be sold or closed.

Federated Logistics is expanded to handle distribution, logistics functions and vendor technology for all Federated divisions nationwide.

A&S stores, already a part of the Macy’s East division, are converted to the Macy’s nameplate.

1996 Jordan Marsh stores in the northeastern United States, already part of the Macy’s East division, are converted to the Macy’s nameplate. Meanwhile, Bullock’s stores in Southern California, already part of the Macy’s West division, are renamed Macy’s.

May Company acquires Strawbridge’s in Philadelphia.

The Federated Department Stores Foundation is reactivated as the company’s primary vehicle for charitable giving. Total contributions by Federated, its divisions and the Foundation were $7.8 million in fi scal 1996.

Bloomingdale’s opens its fi rst California stores with four locations – three in the Los Angeles area and one in Palo Alto.

www.macys.com is launched.

1997 In May, James M. Zimmerman succeeds Allen Questrom as chairman and chief executive offi cer of Federated. Terry J. Lundgren becomes president and chief merchandising offi cer.


1998 For the fi rst time since 1988, Federated’s debt was rated by major agencies as investment grade. In the fall, the company launches a new Macy’s By Mail catalog and re-launches macys.com.

The May Company acquires The Jones Store in Kansas City, MO.

1999 Fingerhut Companies, Inc. of Minnetonka, MN, a leading direct-marketing company, is acquired by Federated in March.

May Company acquires Zions Co-operative Mercantile Institution (ZCMI) department stores in Utah and Idaho.

2000 A new private brand of apparel and accessories for children, called Greendog, debuts at stores across the country.

2001 In February, Federated announces that its Stern’s division will be closed, with most locations being converted to the Bloomingdale’s or Macy’s nameplates.

In July, Federated acquires Liberty House, Hawaii’s largest retailer and only conventional department store group. It becomes part of Macy’s West.

2002 Federated disposes of Fingerhut.

Terry J. Lundgren becomes chief operating offi cer in addition to president and chief merchandising offi cer.

2003 Federated integrates the Macy’s nameplates with its regional department stores – creating Bon-Macy’s, Burdines-Macy’s, Goldsmith’s-Macy’s, Lazarus-Macy’s and Rich’s-Macy’s. Macy’s Corporate Marketing is developed.

Bloomingdale’s enters the Atlanta market for the fi rst time with two stores.

Terry J. Lundgren becomes president and chief executive offi cer. James M. Zimmerman remains chairman of the board.

Federated board initiates quarterly dividends.

2004 Terry J. Lundgren becomes chairman, president and chief executive offi cer as James M. Zimmerman retires as chairman of the company.

Macy’s Home Store division is formed.

May Company acquires Marshall Field’s.

2005 Federated begins operating nationwide under two store nameplates – Macy’s and Bloomingdale’s – as all regional department store names are converted to the Macy’s brand.

Macy’s launches a new customer loyalty program, with escalating benefi ts for its largest customers, as it issues new credit cards for about 14 million accounts.

Federated acquires The May Department Stores Company. The acquisition creates a stronger, more resourceful company with more stores nationwide.

2006 More than 400 former May Company stores convert to Macy’s, creating a nationwide store focused on delivering fashion and affordable luxury to customers from coast to coast.

Macy’s launches its fi rst-ever national advertising campaign.

Federated divests Lord & Taylor, David’s Bridal and Priscilla of Boston, which were acquired as part of May Company.

2007 Federated sells its 507-store After Hours Formalwear business, which was acquired as part of May Company, to Houston-based Men’s Wearhouse.

Shareholders vote to change the corporate name from Federated Department Stores, Inc. to Macy’s, Inc.

2008 Macy’s began piloting a new localization initiative called My Macy’s in 20 local markets as it consolidated three divisions – Macy’s North into Macy’s East, Macy’s Northwest into Macy’s West, and Macy’s Midwest into Macy’s South (creating a new Macy’s Central division).

The company celebrated Macy’s 150th birthday on October 28.

Macy’s, Inc. launches a corporatewide sustainability initiative to guide a wide variety of efforts to protect the environment.

2009 Macy’s rolls out its My Macy’s localization initiative nationwide, creating 49 new local stores districts (for a total of 69), while adopting a unifi ed national operating structure.

Macy’s and Bloomingdale’s launched social media programs to reach customers in new ways.

2010 After several years of signifi cant changes to the company’s structure and organization, a culture of growth develops at Macy’s, Inc.

Bloomingdale’s opens in Dubai, the company’s fi rst international presence.

Macy’s ends the year with more than 1.2 million Facebook friends.

58 | Macy’s, Inc.

Sara Levinson

Former Chairman and Chief Executive Offi cerClubMom, Inc.

Stephen F. Bollenbach

Non-Executive Chairman of the Board of DirectorsKB Home

Terry J. Lundgren

Chairman, President and Chief Executive Offi cerMacy’s, Inc.

Deirdre P. Connelly

President, North American PharmaceuticalsGlaxoSmithKline

Joseph Neubauer

Chairman and ChiefExecutive Offi cerARAMARK Holdings Corporation

Craig E. Weatherup

Former Chairman and Chief Executive Offi cerThe Pepsi-Cola Company

Meyer Feldberg

Dean Emeritus and Professor of Leadership and EthicsColumbia Business School

Marna C. Whittington

Chief Executive Offi cerAllianz Global Investors Capital

Joseph A. Pichler

Former Chairman The Kroger Company

Joyce M. Roché

Former President and Chief Executive Offi cerGirls Incorporated

MACY’S, INC. BOARD OF DIRECTORS


Karen M. Hoguet

Chief Financial Offi cer

Julie Greiner

Chief Merchandise Planning Offi cer

Michael Gould

Chairman and Chief Executive Offi cer, Bloomingdale’s

Peter Sachse

Chief Marketing Offi cer

Jeffrey Gennette

Chief Merchandising Offi cerMark S. Cosby

President – Stores

Thomas L. Cole

Chief Administrative Offi cer

Timothy M. Adams

Chief Private Brand Offi cer

EXECUTIVE MANAGEMENT TEAM

Ronald Klein

Chief Stores Offi cer

Terry J. Lundgren

Chairman, President and Chief Executive Offi cer

60 | Macy’s, Inc.

Ann Munson Steines

Deputy General Counsel and Assistant Secretary

David W. Clark

Human Resources and Diversity

Joel A. Belsky

Controller

William L. Hawthorne III

Diversity Strategies and Legal Affairs

Dennis J. Broderick

General Counsel and Secretary

Bradley R. Mays

Tax

Felicia Williams

Risk Management and Financial Services

Michael Zorn

Associate and Labor Relations

R.B. Harrison

Finance

James A. Sluzewski

Corporate Communications and External Affairs

Amy Hanson

Property DevelopmentCredit and Customer Services

OTHER MACY’S, INC. CORPORATE OFFICERS

Shirley H. Yoshida

Internal Audit


MACY’S, INC. CORPORATE GOVERNANCE

Macy’s, Inc. believes strongly in good corporate governance and transparency in fi nancial reporting. If you would like to know more, please visit the Corporate Governance section of our corporate website at www.macysinc.com/corporategovernance.

COMMON STOCK

Shares of Macy’s, Inc. common stock are traded on the New York Stock Exchange. The company’s trading symbol is M. The approximate number of Macy’s, Inc. shareholders of record, as of Jan. 29, 2011, was 23,000. As of that date, there were approximately 423.3 million shares of Macy’s, Inc. common stock outstanding, excluding shares held by Macy’s, Inc.

TO REACH US

www.macysinc.com/ir• Sign up to have Macy’s, Inc.’s news releases sent to you

via e-mail by subscribing to News Direct.

• Get the latest stock price and chart, or take advantage of the historical price look-up feature.

CALL:

Macy’s, Inc. Investor Relations DepartmentMonday-Friday,8:30 a.m.-5 p.m. (ET)1-513-579-7028

Macy’s, Inc. News & InformationRequest Hotline: 1-800-261-5385

WRITE:

Macy’s, Inc.Investor Relations Department7 West Seventh StreetCincinnati, OH 45202

TRANSFER AGENT FORMACY’S, INC. SHARES

Macy’s, Inc.c/o BNY Mellon Shareowner ServicesP.O. Box 358015Pittsburgh, PA 15252-8015

Inside the United States and Canada1-866-337-3311

Outside the United States and Canada1-201-680-6578

For the hearing impaired1-800-231-5469 (TDD)

www.bnymellon.com/shareowner/equityaccess

VISIT US ON THE INTERNET:

www.macysinc.comwww.macys.comwww.macysJOBS.comwww.bloomingdales.comwww.bloomingdalesJOBS.com

SHAREHOLDER INFORMATION

Shares Average Prices Dividends Traded Daily Volume Low High Paid

First Quarter 688,375,100 10,926,600 15.34 25.25 0.0500

Second Quarter 733,287,400 11,639,500 16.93 24.84 0.0500

Third Quarter 580,036,000 9,063,100 18.70 25.26 0.0500

Fourth Quarter 481,085,900 7,759,500 22.78 26.32 0.0500

2009

First Quarter 916,209,500 14,543,000 6.27 14.09 0.0500

Second Quarter 739,017,300 11,730,400 10.27 15.29 0.0500

Third Quarter 761,119,900 11,892,500 13.58 20.84 0.0500

Fourth Quarter 776,902,500 12,736,100 15.39 19.77 0.0500

2010

62 | Macy’s, Inc.

MACY’S, INC. OPERATES STORES IN:*ALABAMA: 400 EmployeesMacy’s (2)

ARIZONA: 3,000 EmployeesMacy’s (11)

CALIFORNIA: 29,100 EmployeesBloomingdale’s (10)Macy’s (138)

COLORADO: 1,600 EmployeesMacy’s (14)

CONNECTICUT: 2,800 EmployeesMacy’s (13)

DELAWARE: 600 EmployeesMacy’s (4)

FLORIDA: 12,800 EmployeesBloomingdale’s (5)Bloomingdale’s Outlet (2)Macy’s (61)

GEORGIA: 6,000 EmployeesBloomingdale’s (2)Macy’s (23)

HAWAII: 2,100 EmployeesMacy’s (18)

IDAHO: 700 EmployeesMacy’s (7)

ILLINOIS: 6,400 EmployeesBloomingdale’s (4)Macy’s (25)

INDIANA: 2,000 EmployeesMacy’s (11)

KANSAS: 700 EmployeesMacy’s (6)

KENTUCKY: 1,200 EmployeesMacy’s (7)

LOUISIANA: 800 EmployeesMacy’s (5)

MAINE: 300 EmployeesMacy’s (2)

MARYLAND: 4,000 EmployeesBloomingdale’s (2)Macy’s (23)

MASSACHUSETTS: 4,700 EmployeesBloomingdale’s (2)Macy’s (29)

MICHIGAN: 4,300 EmployeesMacy’s (21)

MINNESOTA: 3,300 EmployeesBloomingdale’s (1)Macy’s (13)

MISSOURI: 3,400 EmployeesMacy’s (15)

MONTANA: 200 EmployeesMacy’s (2)

NEVADA: 1,300 EmployeesBloomingdale’s (1)Macy’s (8)

NEW HAMPSHIRE: 800 EmployeesMacy’s (6)

NEW JERSEY: 8,100 EmployeesBloomingdale’s (4)Bloomingdale’s Outlet (1)Macy’s (30)

NEW MEXICO: 200 EmployeesMacy’s (2)

NEW YORK: 22,800 EmployeesBloomingdale’s (7)Macy’s (52)

NORTH CAROLINA: 1,400 EmployeesMacy’s (12)

NORTH DAKOTA: 200 EmployeesMacy’s (2)

OHIO: 8,500 EmployeesMacy’s (36)

OKLAHOMA: 500 EmployeesMacy’s (4)

OREGON: 1,900 EmployeesMacy’s (15)

PENNSYLVANIA: 6,200 EmployeesBloomingdale’s (2)Macy’s (37)

RHODE ISLAND: 300 EmployeesMacy’s (2)

SOUTH CAROLINA: 300 EmployeesMacy’s (2)

SOUTH DAKOTA: 100 EmployeesMacy’s (1)

TENNESSEE: 2,100 EmployeesMacy’s (9)

TEXAS: 8,900 EmployeesMacy’s (57)

UTAH: 600 EmployeesMacy’s (6)

VERMONT: 100 EmployeesMacy’s (1)

VIRGINIA: 4,500 EmployeesBloomingdale’s (1)Bloomingdale’s Outlet (1)Macy’s (27)

WASHINGTON: 4,600 EmployeesMacy’s (35)

WEST VIRGINIA: 300 EmployeesMacy’s (2)

WISCONSIN: 900 EmployeesMacy’s (5)

WYOMING: 100 EmployeesMacy’s (1)

WASHINGTON, D.C.: 300 EmployeesMacy’s (1)

GUAM: 200 EmployeesMacy’s (2)

PUERTO RICO: 400 EmployeesMacy’s (1)

* Information as of April 2, 2011, except for number of employees, which is as of January 29, 2011.


Number of Stores ..........................................................851

Store Gross Sq. Ft. .........................................154,400,000

Total States .......................................................................45plus the District of Columbia, Guam and Puerto Rico

Total Number of Employees ................................ 166,000

Information as of April 2, 2011, except for number of employees, which is as of January 29, 2011.

7 West Seventh Street • Cincinnati, OH 45202151 West 34th Street • New York, NY 10001www.macysinc.com

www.macys.com

www.bloomingdales.com

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