Macy's is a 165-year-old omnichannel department-store retailer — it buys apparel, beauty, home and accessories from thousands of brands and sells them through the Macy's, Bloomingdale's and Bluemercury nameplates plus macys.com. On ~$23B of revenue it earns a thin ~2.5% margin, so the real story is a shrinking store base, a ~$18B Macy's nameplate under a turnaround, and owned real estate that some investors argue is worth more than the whole company.
What Macy's, Inc. really sells
Macy's is a 165-year-old omnichannel department-store retailer — it buys apparel, beauty, home and accessories from thousands of brands and sells them through the Macy's, Bloomingdale's and Bluemercury nameplates plus macys.com. On ~$23B of revenue it earns a thin ~2.5% margin, so the real story is a shrinking store base, a ~$18B Macy's nameplate under a turnaround, and owned real estate that some investors argue is worth more than the whole company.