Jeff Gennette Named President of Macy’s, Inc.

  Jeff Gennette Named President of Macy’s, Inc.

Business Wire

CINCINNATI -- March 31, 2014

Macy’s, Inc. (NYSE:M) today announced that Jeffrey Gennette, who has served
for the past five years as Macy’s chief merchandising officer, has been
elected President of the corporation, effective immediately. He will report to
Terry J. Lundgren, Macy’s, Inc. chairman and chief executive officer, and
continues to be based in New York City.

In this new role, Gennette will retain day-to-day responsibility for Macy’s
merchandising functions, as well as oversight of marketing and macys.com. In
addition, he assumes oversight responsibility for Macy’s Private Brands
organization.

“Jeff Gennette is an outstanding merchant who has proven to be an insightful
strategist and strong leader in our company,” Lundgren said. “As our
president, with the additional responsibility for Macy’s private brands,
Gennette will have a total view of Macy’s merchandise assortment and marketing
strategy – both in stores and online – consistent with our omnichannel vision.
Our exclusive private brands, which have provided a powerful competitive
advantage for Macy’s, will continue to play a vitally important role in
delivering fashion, quality and value to our customers.”

Gennette, 52, has been Macy’s chief merchandising officer since 2009. He
served as chairman and CEO of Macy’s West for the previous year, and was
chairman and CEO of Macy's Northwest in Seattle from December 2005 to February
2008. Before that, Gennette was executive vice president and director of
stores for Macy's Central in Atlanta and SVP/general merchandise manager at
Macy's West. Gennette joined Macy’s West in 1983 as an executive trainee and
held various merchant and store management positions in that division. During
his career, Gennette also has served as a store manager for FAO Schwarz and
director of stores for Broadway Stores. A native of San Diego, Gennette is a
graduate of Stanford University with a degree in English. He lives in New York
City.

Macy’s, Inc., with corporate offices in Cincinnati and New York, is one of the
nation’s premier retailers, with fiscal 2013 sales of $27.931 billion. The
company operates about 840 stores in 45 states, the District of Columbia, Guam
and Puerto Rico under the names of Macy’s and Bloomingdale’s, as well as the
macys.com and bloomingdales.com websites. The company also operates 13
Bloomingdale’s Outlet stores. Bloomingdale’s in Dubai is operated by Al Tayer
Group LLC under a license agreement.

All statements in this press release that are not statements of historical
fact are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are based upon the
current beliefs and expectations of Macy’s management and are subject to
significant risks and uncertainties. Actual results could differ materially
from those expressed in or implied by the forward-looking statements contained
in this release because of a variety of factors, including conditions to, or
changes in the timing of, proposed transactions, prevailing interest rates and
non-recurring charges, competitive pressures from specialty stores, general
merchandise stores, off-price and discount stores, manufacturers’ outlets, the
Internet, mail-order catalogs and television shopping and general consumer
spending levels, including the impact of the availability and level of
consumer debt, the effect of weather and other factors identified in documents
filed by the company with the Securities and Exchange Commission.

(Note: additional information on Macy’s, Inc., including past news releases,
is available at www.macysinc.com/pressroom)

Contact:

Macy’s, Inc.
Media:
Jim Sluzewski, 513-579-7764
or
Investor:
Matt Stautberg, 513-579-7780
 
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