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w 0 i [] 0 d 0 J 0 j 3 M 302.5 352.54999999999995 m 302.5 338.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 352.54999999999995 m 365.5 338.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 352.54999999999995 m 365.5 352.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 352.54999999999995 m 365.5 338.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 352.54999999999995 m 428.5 338.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 352.54999999999995 m 428.5 352.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 352.54999999999995 m 428.5 338.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 352.54999999999995 m 491.5 338.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 352.54999999999995 m 491.5 352.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 352.54999999999995 m 491.5 338.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 554.5 352.54999999999995 m 554.5 338.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 352.54999999999995 m 554.5 352.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 58.5 338.54999999999995 m 58.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 338.54999999999995 m 302.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 58.5 338.54999999999995 m 302.5 338.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 338.54999999999995 m 302.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 338.54999999999995 m 365.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 338.54999999999995 m 365.5 338.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 312.54999999999995 m 365.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 338.54999999999995 m 365.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 338.54999999999995 m 428.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 338.54999999999995 m 428.5 338.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 312.54999999999995 m 428.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 338.54999999999995 m 428.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 338.54999999999995 m 491.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 338.54999999999995 m 491.5 338.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 312.54999999999995 m 491.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 338.54999999999995 m 491.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 554.5 338.54999999999995 m 554.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 338.54999999999995 m 554.5 338.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 312.54999999999995 m 554.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 58.5 312.54999999999995 m 58.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 312.54999999999995 m 302.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 58.5 312.54999999999995 m 302.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 312.54999999999995 m 302.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 312.54999999999995 m 365.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 312.54999999999995 m 365.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 297.54999999999995 m 365.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 312.54999999999995 m 365.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 312.54999999999995 m 428.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 312.54999999999995 m 428.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 297.54999999999995 m 428.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 312.54999999999995 m 428.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 312.54999999999995 m 491.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 312.54999999999995 m 491.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 297.54999999999995 m 491.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 312.54999999999995 m 491.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 554.5 312.54999999999995 m 554.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 312.54999999999995 m 554.5 312.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 297.54999999999995 m 554.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 58.5 297.54999999999995 m 58.5 283.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 58.5 297.54999999999995 m 302.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 297.54999999999995 m 365.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 297.54999999999995 m 428.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 297.54999999999995 m 491.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 554.5 297.54999999999995 m 554.5 283.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 297.54999999999995 m 554.5 297.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 58.5 283.54999999999995 m 58.5 269.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 283.54999999999995 m 302.5 269.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 58.5 283.54999999999995 m 302.5 283.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 283.54999999999995 m 302.5 269.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 283.54999999999995 m 365.5 269.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 283.54999999999995 m 365.5 283.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 283.54999999999995 m 365.5 269.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 283.54999999999995 m 428.5 269.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 283.54999999999995 m 428.5 283.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 283.54999999999995 m 428.5 269.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 283.54999999999995 m 491.5 269.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 283.54999999999995 m 491.5 283.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 283.54999999999995 m 491.5 269.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 554.5 283.54999999999995 m 554.5 269.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 283.54999999999995 m 554.5 283.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 58.5 269.54999999999995 m 58.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 269.54999999999995 m 302.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 58.5 269.54999999999995 m 302.5 269.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 269.54999999999995 m 302.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 269.54999999999995 m 365.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 269.54999999999995 m 365.5 269.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 244.54999999999995 m 365.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 269.54999999999995 m 365.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 269.54999999999995 m 428.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 269.54999999999995 m 428.5 269.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 244.54999999999995 m 428.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 269.54999999999995 m 428.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 269.54999999999995 m 491.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 269.54999999999995 m 491.5 269.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 244.54999999999995 m 491.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 269.54999999999995 m 491.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 554.5 269.54999999999995 m 554.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 269.54999999999995 m 554.5 269.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 244.54999999999995 m 554.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 58.5 244.54999999999995 m 58.5 229.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 244.54999999999995 m 302.5 229.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 58.5 244.54999999999995 m 302.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 58.5 229.54999999999995 m 302.5 229.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 244.54999999999995 m 302.5 229.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 244.54999999999995 m 365.5 229.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 244.54999999999995 m 365.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 229.54999999999995 m 365.5 229.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 244.54999999999995 m 365.5 229.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 244.54999999999995 m 428.5 229.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 244.54999999999995 m 428.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 229.54999999999995 m 428.5 229.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 244.54999999999995 m 428.5 229.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 244.54999999999995 m 491.5 229.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 244.54999999999995 m 491.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 229.54999999999995 m 491.5 229.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 244.54999999999995 m 491.5 229.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 554.5 244.54999999999995 m 554.5 229.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 244.54999999999995 m 554.5 244.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 229.54999999999995 m 554.5 229.54999999999995 l s BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 327.95 459.60 Td (Fourth Quarter) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 469.45 459.60 Td (Full ) Tj ET Q q 0 0 0 rg BT 490.95 459.60 Td (Y) Tj ET Q q 0 0 0 rg BT 498.07 459.60 Td (ear) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 61.00 445.41 Td (\(in millions\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 322.50 445.60 Td (2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 385.50 445.60 Td (2017) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 448.50 445.60 Td (2018) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 511.50 445.60 Td (2017) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 61.00 431.45 Td (Net sales*) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 305.00 431.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 331.00 431.42 Td (8,455) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 368.00 431.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 399.55 431.42 Td (8,672) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 431.00 431.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 451.50 431.42 Td (24,971) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 494.00 431.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 520.00 431.42 Td (24,939) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 61.00 416.60 Td (Comparable sales*) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 61.00 402.42 Td (Owned) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 342.05 402.42 Td (0.4) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 355.80 402.42 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 468.05 402.42 Td (1.7) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 481.80 402.42 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 61.00 387.42 Td (Owned plus licensed) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 342.05 387.42 Td (0.7) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 355.80 387.42 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 468.05 387.42 Td (2.0) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 481.80 387.42 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 61.00 371.47 Td (53rd week shifted calendar \(owned plus licensed\)) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 342.05 371.47 Td (2.0) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 355.80 371.47 Td (%) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 468.05 371.47 Td (2.4) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 481.80 371.47 Td (%) Tj ET Q BT /F2 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 61.00 356.60 Td (As r) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 80.76 356.60 Td (eported) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 61.00 342.42 Td (Net income attributable to Macy) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 207.31 342.42 Td (s, Inc. shareholders) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 305.00 342.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 339.30 342.42 Td (740) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 368.00 342.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 399.55 342.42 Td (1,347) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 431.00 342.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 457.00 342.42 Td (1,108) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 494.00 342.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 525.55 342.42 Td (1,566) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 61.00 328.42 Td (Earnings before interest, taxes, depreciation and) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 61.00 317.42 Td (amortization) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 305.00 317.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 331.00 317.47 Td (1,287) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 368.00 317.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 399.55 317.47 Td (1,483) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 431.00 317.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 457.00 317.47 Td (2,661) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 494.00 317.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 525.55 317.47 Td (2,818) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 61.00 302.42 Td (Diluted earnings per share) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 305.00 302.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 336.55 302.42 Td (2.37) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 368.00 302.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 405.05 302.42 Td (4.38) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 431.00 302.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 462.55 302.42 Td (3.56) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 494.00 302.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 531.05 302.42 Td (5.10) Tj ET Q BT /F2 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 61.00 287.60 Td (As adjusted**) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 61.00 273.42 Td (Net income attributable to Macy) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 207.31 273.42 Td (s, Inc. shareholders) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 305.00 273.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 339.30 273.42 Td (850) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 368.00 273.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 407.80 273.42 Td (876) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 431.00 273.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 457.00 273.42 Td (1,301) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 494.00 273.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 525.55 273.42 Td (1,162) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 61.00 259.42 Td (Earnings before interest, taxes, depreciation and) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 61.00 248.42 Td (amortization) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 305.00 249.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 331.00 249.47 Td (1,399) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 368.00 249.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 399.55 249.47 Td (1,667) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 431.00 249.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 457.00 249.47 Td (2,877) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 494.00 249.47 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 525.55 249.47 Td (3,109) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 61.00 234.42 Td (Diluted earnings per share) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 305.00 234.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 336.55 234.42 Td (2.73) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 368.00 234.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 405.05 234.42 Td (2.85) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 431.00 234.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 462.55 234.42 Td (4.18) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 494.00 234.42 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 531.05 234.42 Td (3.79) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 220.45 Td (*Net sales performance is provided on a 52-week basis in 2018 compared to a 53-week basis in 2017. Comparable sales performance is provided on a 52-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 210.85 Td (week basis in both 2018 and 2017. Comparable sales adjusted for the impact of the 53) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 333.49 214.48 Td (rd) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.82 210.85 Td (week reflect a shift of the company) Tj ET Q q 0 0 0 rg BT 454.89 210.85 Td (s 2017 calendar to align with ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 201.20 Td (2018 on a like-for) Tj ET Q q 0 0 0 rg BT 115.38 201.20 Td (-like basis.) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 191.60 Td (**As adjusted reflects the exclusion of certain items from the respective financial measures.) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 352.78 191.60 Td ( Please see the final pages of this news release for important ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 182.00 Td (information regarding the nature of such excluded amounts and calculation of the company) Tj ET Q q 0 0 0 rg BT 352.13 182.00 Td (s non-GAAP) Tj ET Q q 0 0 0 rg BT 393.39 182.00 Td ( financial measures.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 155.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 87.46 155.60 Td (was ) Tj ET Q q 0 0 0 rg BT 107.15 155.60 Td (an ) Tj ET Q q 0 0 0 rg BT 120.11 155.60 Td (important ) Tj ET Q q 0 0 0 rg BT 165.45 155.60 Td (year ) Tj ET Q q 0 0 0 rg BT 186.96 155.60 Td (for ) Tj ET Q q 0 0 0 rg BT 202.36 155.60 Td (Macy) Tj ET Q q 0 0 0 rg BT 230.47 155.60 Td (s, ) Tj ET Q q 0 0 0 rg BT 240.07 155.60 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 259.45 155.60 Td (as ) Tj ET Q q 0 0 0 rg BT 271.19 155.60 Td (we ) Tj ET Q q 0 0 0 rg BT 286.59 155.60 Td (changed ) Tj ET Q q 0 0 0 rg BT 325.82 155.60 Td (the ) Tj ET Q q 0 0 0 rg BT 341.84 155.60 Td (trajectory ) Tj ET Q q 0 0 0 rg BT 386.56 155.60 Td (of ) Tj ET Q q 0 0 0 rg BT 398.30 155.60 Td (the ) Tj ET Q q 0 0 0 rg BT 414.31 155.60 Td (company ) Tj ET Q q 0 0 0 rg BT 457.21 155.60 Td (and ) Tj ET Q q 0 0 0 rg BT 475.67 155.60 Td (delivered ) Tj ET Q q 0 0 0 rg BT 519.17 155.60 Td (positive ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 142.40 Td (comparable ) Tj ET Q q 0 0 0 rg BT 111.17 142.40 Td (sales ) Tj ET Q q 0 0 0 rg BT 134.42 142.40 Td (for ) Tj ET Q q 0 0 0 rg BT 149.11 142.40 Td (the ) Tj ET Q q 0 0 0 rg BT 164.41 142.40 Td (full ) Tj ET Q q 0 0 0 rg BT 181.55 142.40 Td (year) Tj ET Q q 0 0 0 rg BT 199.87 142.40 Td (. ) Tj ET Q q 0 0 0 rg BT 204.49 142.40 Td (Im ) Tj ET Q q 0 0 0 rg BT 222.24 142.40 Td (pleased ) Tj ET Q q 0 0 0 rg BT 257.09 142.40 Td (with ) Tj ET Q q 0 0 0 rg BT 278.51 142.40 Td (the ) Tj ET Q q 0 0 0 rg BT 293.81 142.40 Td (impact ) Tj ET Q q 0 0 0 rg BT 325.61 142.40 Td (of ) Tj ET Q q 0 0 0 rg BT 336.64 142.40 Td (our ) Tj ET Q q 0 0 0 rg BT 353.17 142.40 Td (strategic ) Tj ET Q q 0 0 0 rg BT 392.29 142.40 Td (initiatives, ) Tj ET Q q 0 0 0 rg BT 440.29 142.40 Td (particularly ) Tj ET Q q 0 0 0 rg BT 492.85 142.40 Td (as ) Tj ET Q q 0 0 0 rg BT 503.88 142.40 Td (they ) Tj ET Q q 0 0 0 rg BT 524.68 142.40 Td (gained ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 129.20 Td (traction ) Tj ET Q q 0 0 0 rg BT 93.79 129.20 Td (in ) Tj ET Q q 0 0 0 rg BT 104.54 129.20 Td (the ) Tj ET Q q 0 0 0 rg BT 120.17 129.20 Td (back ) Tj ET Q q 0 0 0 rg BT 143.13 129.20 Td (half ) Tj ET Q q 0 0 0 rg BT 162.43 129.20 Td (of ) Tj ET Q q 0 0 0 rg BT 173.79 129.20 Td (the ) Tj ET Q q 0 0 0 rg BT 189.42 129.20 Td (year) Tj ET Q q 0 0 0 rg BT 207.91 129.20 Td (, ) Tj ET Q q 0 0 0 rg BT 217.73 129.20 Td (said ) Tj ET Q q 0 0 0 rg BT 237.65 129.20 Td (Jef) Tj ET Q q 0 0 0 rg BT 250.27 129.20 Td (f ) Tj ET Q q 0 0 0 rg BT 256.13 129.20 Td (Gennette, ) Tj ET Q q 0 0 0 rg BT 300.78 129.20 Td (Macy's, ) Tj ET Q q 0 0 0 rg BT 337.03 129.20 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 356.02 129.20 Td (chairman ) Tj ET Q q 0 0 0 rg BT 399.14 129.20 Td (& ) Tj ET Q q 0 0 0 rg BT 409.89 129.20 Td (chief ) Tj ET Q q 0 0 0 rg BT 434.07 129.20 Td (executive ) Tj ET Q q 0 0 0 rg BT 478.40 129.20 Td (of) Tj ET Q q 0 0 0 rg BT 487.37 129.20 Td (ficer) Tj ET Q q 0 0 0 rg BT 506.91 129.20 Td (. ) Tj ET Q q 0 0 0 rg BT 511.85 129.20 Td (Looking ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 116.00 Td (at ) Tj ET Q q 0 0 0 rg BT 69.58 116.00 Td (the ) Tj ET Q q 0 0 0 rg BT 86.67 116.00 Td (fourth ) Tj ET Q q 0 0 0 rg BT 117.19 116.00 Td (quarter ) Tj ET Q q 0 0 0 rg BT 151.98 116.00 Td (of ) Tj ET Q q 0 0 0 rg BT 164.79 116.00 Td (2018, ) Tj ET Q q 0 0 0 rg BT 193.19 116.00 Td (while ) Tj ET Q q 0 0 0 rg BT 221.27 116.00 Td (we ) Tj ET Q q 0 0 0 rg BT 237.74 116.00 Td (delivered ) Tj ET Q q 0 0 0 rg BT 282.31 116.00 Td (positive ) Tj ET Q q 0 0 0 rg BT 320.78 116.00 Td (comparable ) Tj ET Q q 0 0 0 rg BT 375.73 116.00 Td (sales ) Tj ET Q q 0 0 0 rg BT 400.76 116.00 Td (against ) Tj ET Q q 0 0 0 rg BT 435.56 116.00 Td (what ) Tj ET Q q 0 0 0 rg BT 460.59 116.00 Td (was ) Tj ET Q q 0 0 0 rg BT 481.34 116.00 Td (a ) Tj ET Q q 0 0 0 rg BT 489.87 116.00 Td (strong ) Tj ET Q q 0 0 0 rg BT 521.01 116.00 Td (holiday ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 102.80 Td (season ) Tj ET Q q 0 0 0 rg BT 90.08 102.80 Td (in ) Tj ET Q q 0 0 0 rg BT 101.40 102.80 Td (2017, ) Tj ET Q q 0 0 0 rg BT 128.91 102.80 Td (results ) Tj ET Q q 0 0 0 rg BT 160.38 102.80 Td (were ) Tj ET Q q 0 0 0 rg BT 184.51 102.80 Td (lower ) Tj ET Q q 0 0 0 rg BT 212.32 102.80 Td (than ) Tj ET Q q 0 0 0 rg BT 234.02 102.80 Td (our ) Tj ET Q q 0 0 0 rg BT 251.44 102.80 Td (expectations. ) Tj ET Q q 0 0 0 rg BT 311.72 102.80 Td (W) Tj ET Q q 0 0 0 rg BT 321.23 102.80 Td (e ) Tj ET Q q 0 0 0 rg BT 328.87 102.80 Td (experienced ) Tj ET Q q 0 0 0 rg BT 384.75 102.80 Td (another ) Tj ET Q q 0 0 0 rg BT 420.50 102.80 Td (quarter ) Tj ET Q q 0 0 0 rg BT 454.40 102.80 Td (of ) Tj ET Q q 0 0 0 rg BT 466.32 102.80 Td (double-digit ) Tj ET Q q 0 0 0 rg BT 522.85 102.80 Td (growth ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 89.60 Td (in ) Tj ET Q q 0 0 0 rg BT 71.84 89.60 Td (digital. ) Tj ET Q q 0 0 0 rg BT 107.60 89.60 Td (W) Tj ET Q q 0 0 0 rg BT 117.10 89.60 Td (e ) Tj ET Q q 0 0 0 rg BT 127.27 89.60 Td (also ) Tj ET Q q 0 0 0 rg BT 150.27 89.60 Td (saw ) Tj ET Q q 0 0 0 rg BT 172.67 89.60 Td (continued ) Tj ET Q q 0 0 0 rg BT 221.33 89.60 Td (improvement ) Tj ET Q q 0 0 0 rg BT 285.26 89.60 Td (in ) Tj ET Q q 0 0 0 rg BT 299.10 89.60 Td (our ) Tj ET Q q 0 0 0 rg BT 319.05 89.60 Td (brick ) Tj ET Q q 0 0 0 rg BT 346.94 89.60 Td (and ) Tj ET Q q 0 0 0 rg BT 368.11 89.60 Td (mortar ) Tj ET Q q 0 0 0 rg BT 402.71 89.60 Td (trends ) Tj ET Q q 0 0 0 rg BT 434.88 89.60 Td (with ) Tj ET Q q 0 0 0 rg BT 459.72 89.60 Td (the ) Tj ET Q q 0 0 0 rg BT 478.44 89.60 Td (Growth50 ) Tj ET Q q 0 0 0 rg BT 528.33 89.60 Td (stores ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 76.40 Td (outperforming ) Tj ET Q q 0 0 0 rg BT 124.29 76.40 Td (the ) Tj ET Q q 0 0 0 rg BT 140.48 76.40 Td (fleet. ) Tj ET Q /GS0 gs q 496.00 0 0 42.75 58.00 15.48 cm /I2 Do Q BT /F1 10.00 Tf ET endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.00 772.60 Td (2) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 741.40 Td (W) Tj ET Q q 0 0 0 rg BT 72.38 741.40 Td (e ) Tj ET Q q 0 0 0 rg BT 79.97 741.40 Td (know ) Tj ET Q q 0 0 0 rg BT 107.12 741.40 Td (that ) Tj ET Q q 0 0 0 rg BT 126.31 741.40 Td (when ) Tj ET Q q 0 0 0 rg BT 152.84 741.40 Td (we ) Tj ET Q q 0 0 0 rg BT 168.37 741.40 Td (listen ) Tj ET Q q 0 0 0 rg BT 194.91 741.40 Td (to ) Tj ET Q q 0 0 0 rg BT 206.17 741.40 Td (our ) Tj ET Q q 0 0 0 rg BT 223.53 741.40 Td (customers, ) Tj ET Q q 0 0 0 rg BT 273.59 741.40 Td (we ) Tj ET Q q 0 0 0 rg BT 289.12 741.40 Td (win. ) Tj ET Q q 0 0 0 rg BT 310.47 741.40 Td (And ) Tj ET Q q 0 0 0 rg BT 332.12 741.40 Td (when ) Tj ET Q q 0 0 0 rg BT 358.65 741.40 Td (we ) Tj ET Q q 0 0 0 rg BT 374.18 741.40 Td (invest ) Tj ET Q q 0 0 0 rg BT 403.16 741.40 Td (in ) Tj ET Q q 0 0 0 rg BT 414.42 741.40 Td (our ) Tj ET Q q 0 0 0 rg BT 431.78 741.40 Td (business, ) Tj ET Q q 0 0 0 rg BT 474.52 741.40 Td (we ) Tj ET Q q 0 0 0 rg BT 490.05 741.40 Td (grow) Tj ET Q q 0 0 0 rg BT 511.94 741.40 Td (. ) Tj ET Q q 0 0 0 rg BT 517.39 741.40 Td (In ) Tj ET Q q 0 0 0 rg BT 529.26 741.40 Td (2019, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 728.20 Td (we ) Tj ET Q q 0 0 0 rg BT 73.44 728.20 Td (will ) Tj ET Q q 0 0 0 rg BT 93.18 728.20 Td (continue ) Tj ET Q q 0 0 0 rg BT 133.67 728.20 Td (with ) Tj ET Q q 0 0 0 rg BT 155.85 728.20 Td (a ) Tj ET Q q 0 0 0 rg BT 163.35 728.20 Td (balanced ) Tj ET Q q 0 0 0 rg BT 205.05 728.20 Td (investment ) Tj ET Q q 0 0 0 rg BT 255.94 728.20 Td (approach, ) Tj ET Q q 0 0 0 rg BT 301.62 728.20 Td (and ) Tj ET Q q 0 0 0 rg BT 320.12 728.20 Td (we ) Tj ET Q q 0 0 0 rg BT 335.56 728.20 Td (are ) Tj ET Q q 0 0 0 rg BT 351.61 728.20 Td (confident ) Tj ET Q q 0 0 0 rg BT 395.77 728.20 Td (that ) Tj ET Q q 0 0 0 rg BT 414.88 728.20 Td (Macy) Tj ET Q q 0 0 0 rg BT 442.98 728.20 Td (s, ) Tj ET Q q 0 0 0 rg BT 452.63 728.20 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 472.05 728.20 Td (is ) Tj ET Q q 0 0 0 rg BT 482.00 728.20 Td (on ) Tj ET Q q 0 0 0 rg BT 495.62 728.20 Td (the ) Tj ET Q q 0 0 0 rg BT 511.68 728.20 Td (right ) Tj ET Q q 0 0 0 rg BT 535.07 728.20 Td (path ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 715.00 Td (to ) Tj ET Q q 0 0 0 rg BT 69.31 715.00 Td (deliver ) Tj ET Q q 0 0 0 rg BT 102.60 715.00 Td (sustainable, ) Tj ET Q q 0 0 0 rg BT 156.97 715.00 Td (profitable ) Tj ET Q q 0 0 0 rg BT 202.48 715.00 Td (growth," ) Tj ET Q q 0 0 0 rg BT 243.64 715.00 Td (continued ) Tj ET Q q 0 0 0 rg BT 289.76 715.00 Td (Gennette. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 688.60 Td (The ) Tj ET Q q 0 0 0 rg BT 82.93 688.60 Td (North ) Tj ET Q q 0 0 0 rg BT 111.53 688.60 Td (Star ) Tj ET Q q 0 0 0 rg BT 132.20 688.60 Td (Strategy ) Tj ET Q q 0 0 0 rg BT 171.80 688.60 Td (is ) Tj ET Q q 0 0 0 rg BT 182.08 688.60 Td (working. ) Tj ET Q q 0 0 0 rg BT 224.43 688.60 Td (Macy) Tj ET Q q 0 0 0 rg BT 252.54 688.60 Td (s ) Tj ET Q q 0 0 0 rg BT 259.76 688.60 Td (is ) Tj ET Q q 0 0 0 rg BT 270.04 688.60 Td (heading ) Tj ET Q q 0 0 0 rg BT 307.80 688.60 Td (into ) Tj ET Q q 0 0 0 rg BT 327.86 688.60 Td (2019 ) Tj ET Q q 0 0 0 rg BT 352.80 688.60 Td (a ) Tj ET Q q 0 0 0 rg BT 360.63 688.60 Td (stronger ) Tj ET Q q 0 0 0 rg BT 399.62 688.60 Td (business ) Tj ET Q q 0 0 0 rg BT 439.84 688.60 Td (than ) Tj ET Q q 0 0 0 rg BT 461.72 688.60 Td (we ) Tj ET Q q 0 0 0 rg BT 477.49 688.60 Td (were ) Tj ET Q q 0 0 0 rg BT 501.81 688.60 Td (a ) Tj ET Q q 0 0 0 rg BT 509.63 688.60 Td (year ) Tj ET Q q 0 0 0 rg BT 531.50 688.60 Td (ago ) Tj ET Q q 0 0 0 rg BT 550.33 688.60 Td (- ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 675.40 Td (with ) Tj ET Q q 0 0 0 rg BT 79.19 675.40 Td (healthier ) Tj ET Q q 0 0 0 rg BT 119.31 675.40 Td (stores, ) Tj ET Q q 0 0 0 rg BT 149.36 675.40 Td (a ) Tj ET Q q 0 0 0 rg BT 155.88 675.40 Td (growing ) Tj ET Q q 0 0 0 rg BT 194.18 675.40 Td (e-commerce ) Tj ET Q q 0 0 0 rg BT 250.17 675.40 Td (business ) Tj ET Q q 0 0 0 rg BT 289.09 675.40 Td (and ) Tj ET Q q 0 0 0 rg BT 306.61 675.40 Td (a ) Tj ET Q q 0 0 0 rg BT 313.13 675.40 Td (mobile ) Tj ET Q q 0 0 0 rg BT 345.32 675.40 Td (experience ) Tj ET Q q 0 0 0 rg BT 394.59 675.40 Td (that ) Tj ET Q q 0 0 0 rg BT 412.72 675.40 Td (is ) Tj ET Q q 0 0 0 rg BT 421.70 675.40 Td (resonating ) Tj ET Q q 0 0 0 rg BT 469.16 675.40 Td (with ) Tj ET Q q 0 0 0 rg BT 490.35 675.40 Td (our ) Tj ET Q q 0 0 0 rg BT 506.65 675.40 Td (customers. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 662.20 Td (W) Tj ET Q q 0 0 0 rg BT 67.50 662.20 Td (e ) Tj ET Q q 0 0 0 rg BT 76.13 662.20 Td (are ) Tj ET Q q 0 0 0 rg BT 93.29 662.20 Td (executing ) Tj ET Q q 0 0 0 rg BT 139.79 662.20 Td (a ) Tj ET Q q 0 0 0 rg BT 148.42 662.20 Td (balanced ) Tj ET Q q 0 0 0 rg BT 191.24 662.20 Td (investment ) Tj ET Q q 0 0 0 rg BT 243.26 662.20 Td (strategy ) Tj ET Q q 0 0 0 rg BT 281.82 662.20 Td (that ) Tj ET Q q 0 0 0 rg BT 302.05 662.20 Td (supports ) Tj ET Q q 0 0 0 rg BT 343.08 662.20 Td (all ) Tj ET Q q 0 0 0 rg BT 357.81 662.20 Td (three ) Tj ET Q q 0 0 0 rg BT 383.54 662.20 Td (of ) Tj ET Q q 0 0 0 rg BT 396.44 662.20 Td (these ) Tj ET Q q 0 0 0 rg BT 422.78 662.20 Td (components, ) Tj ET Q q 0 0 0 rg BT 482.43 662.20 Td (with ) Tj ET Q q 0 0 0 rg BT 505.73 662.20 Td (investment ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 649.00 Td (directed ) Tj ET Q q 0 0 0 rg BT 96.36 649.00 Td (towards ) Tj ET Q q 0 0 0 rg BT 134.12 649.00 Td (areas ) Tj ET Q q 0 0 0 rg BT 159.64 649.00 Td (we ) Tj ET Q q 0 0 0 rg BT 175.40 649.00 Td (know ) Tj ET Q q 0 0 0 rg BT 202.78 649.00 Td (have ) Tj ET Q q 0 0 0 rg BT 226.48 649.00 Td (the ) Tj ET Q q 0 0 0 rg BT 242.85 649.00 Td (highest ) Tj ET Q q 0 0 0 rg BT 277.56 649.00 Td (returns, ) Tj ET Q q 0 0 0 rg BT 318.67 649.00 Td (said ) Tj ET Q q 0 0 0 rg BT 339.33 649.00 Td (Gennette. ) Tj ET Q q 0 0 0 rg BT 384.71 649.00 Td (W) Tj ET Q q 0 0 0 rg BT 399.10 649.00 Td (e ) Tj ET Q q 0 0 0 rg BT 406.91 649.00 Td (are ) Tj ET Q q 0 0 0 rg BT 423.27 649.00 Td (also ) Tj ET Q q 0 0 0 rg BT 443.93 649.00 Td (a ) Tj ET Q q 0 0 0 rg BT 451.74 649.00 Td (more ) Tj ET Q q 0 0 0 rg BT 477.28 649.00 Td (agile ) Tj ET Q q 0 0 0 rg BT 501.59 649.00 Td (and ) Tj ET Q q 0 0 0 rg BT 520.41 649.00 Td (flexible ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 635.80 Td (or) Tj ET Q q 0 0 0 rg BT 66.96 635.80 Td (ganization.) Tj ET Q q 0 0 0 rg BT 118.08 635.80 Td (The ) Tj ET Q q 0 0 0 rg BT 137.93 635.80 Td (steps ) Tj ET Q q 0 0 0 rg BT 162.69 635.80 Td (we ) Tj ET Q q 0 0 0 rg BT 178.26 635.80 Td (are ) Tj ET Q q 0 0 0 rg BT 194.44 635.80 Td (announcing ) Tj ET Q q 0 0 0 rg BT 248.51 635.80 Td (to ) Tj ET Q q 0 0 0 rg BT 259.82 635.80 Td (further ) Tj ET Q q 0 0 0 rg BT 292.50 635.80 Td (streamline ) Tj ET Q q 0 0 0 rg BT 341.07 635.80 Td (our ) Tj ET Q q 0 0 0 rg BT 358.48 635.80 Td (management ) Tj ET Q q 0 0 0 rg BT 417.43 635.80 Td (structure ) Tj ET Q q 0 0 0 rg BT 458.67 635.80 Td (will ) Tj ET Q q 0 0 0 rg BT 478.53 635.80 Td (allow ) Tj ET Q q 0 0 0 rg BT 505.72 635.80 Td (us ) Tj ET Q q 0 0 0 rg BT 518.25 635.80 Td (to ) Tj ET Q q 0 0 0 rg BT 529.56 635.80 Td (move ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 622.60 Td (faster) Tj ET Q q 0 0 0 rg BT 81.99 622.60 Td (, ) Tj ET Q q 0 0 0 rg BT 87.63 622.60 Td (reduce ) Tj ET Q q 0 0 0 rg BT 119.83 622.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 144.73 622.60 Td (and ) Tj ET Q q 0 0 0 rg BT 163.50 622.60 Td (be ) Tj ET Q q 0 0 0 rg BT 176.78 622.60 Td (more ) Tj ET Q q 0 0 0 rg BT 202.27 622.60 Td (responsive ) Tj ET Q q 0 0 0 rg BT 252.21 622.60 Td (to ) Tj ET Q q 0 0 0 rg BT 263.66 622.60 Td (changing ) Tj ET Q q 0 0 0 rg BT 306.88 622.60 Td (customer ) Tj ET Q q 0 0 0 rg BT 350.09 622.60 Td (expectations. ) Tj ET Q q 0 0 0 rg BT 410.71 622.60 Td (Importantly) Tj ET Q q 0 0 0 rg BT 461.93 622.60 Td (, ) Tj ET Q q 0 0 0 rg BT 467.58 622.60 Td (these ) Tj ET Q q 0 0 0 rg BT 493.07 622.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 531.39 622.60 Td (build ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 609.40 Td (the ) Tj ET Q q 0 0 0 rg BT 76.38 609.40 Td (foundation ) Tj ET Q q 0 0 0 rg BT 128.97 609.40 Td (we ) Tj ET Q q 0 0 0 rg BT 146.74 609.40 Td (need ) Tj ET Q q 0 0 0 rg BT 172.44 609.40 Td (to ) Tj ET Q q 0 0 0 rg BT 185.93 609.40 Td (achieve ) Tj ET Q q 0 0 0 rg BT 224.46 609.40 Td (meaningful ) Tj ET Q q 0 0 0 rg BT 279.49 609.40 Td (enterprise ) Tj ET Q q 0 0 0 rg BT 327.79 609.40 Td (productivity ) Tj ET Q q 0 0 0 rg BT 386.50 609.40 Td (improvements. ) Tj ET Q q 0 0 0 rg BT 456.77 609.40 Td (These ) Tj ET Q q 0 0 0 rg BT 487.97 609.40 Td (actions ) Tj ET Q q 0 0 0 rg BT 524.07 609.40 Td (impact ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 596.20 Td (colleagues ) Tj ET Q q 0 0 0 rg BT 106.73 596.20 Td (who ) Tj ET Q q 0 0 0 rg BT 127.98 596.20 Td (have ) Tj ET Q q 0 0 0 rg BT 151.05 596.20 Td (made ) Tj ET Q q 0 0 0 rg BT 177.17 596.20 Td (strong ) Tj ET Q q 0 0 0 rg BT 206.98 596.20 Td (contributions ) Tj ET Q q 0 0 0 rg BT 267.34 596.20 Td (to ) Tj ET Q q 0 0 0 rg BT 278.20 596.20 Td (the ) Tj ET Q q 0 0 0 rg BT 293.94 596.20 Td (company ) Tj ET Q q 0 0 0 rg BT 336.57 596.20 Td (over ) Tj ET Q q 0 0 0 rg BT 358.42 596.20 Td (the ) Tj ET Q q 0 0 0 rg BT 374.16 596.20 Td (years, ) Tj ET Q q 0 0 0 rg BT 402.43 596.20 Td (and ) Tj ET Q q 0 0 0 rg BT 420.62 596.20 Td (I ) Tj ET Q q 0 0 0 rg BT 426.58 596.20 Td (thank ) Tj ET Q q 0 0 0 rg BT 453.33 596.20 Td (them ) Tj ET Q q 0 0 0 rg BT 477.63 596.20 Td (for ) Tj ET Q q 0 0 0 rg BT 492.76 596.20 Td (their ) Tj ET Q q 0 0 0 rg BT 515.22 596.20 Td (service. ) Tj ET Q q 0 0 0 rg BT 556.75 596.20 Td ( ) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 571.00 Td (Asset ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 85.80 571.00 Td (Sale ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 108.11 571.00 Td (Gains) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 545.80 Td (Asset ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 85.64 545.80 Td (sale ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 105.94 545.80 Td (gains ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 132.36 545.80 Td (for ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 148.39 545.80 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 165.02 545.80 Td (fourth ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 195.10 545.80 Td (quarter ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 229.45 545.80 Td (of ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 241.81 545.80 Td (2018 ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 267.01 545.80 Td (totaled ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 300.14 545.80 Td ($278 ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 325.34 545.80 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 357.12 545.80 Td ( ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 360.32 545.80 Td (pre-tax, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 397.42 545.80 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 409.78 545.80 Td ($204 ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 434.98 545.80 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 466.76 545.80 Td ( ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 469.96 545.80 Td (after) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 489.88 545.80 Td (-tax ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 510.18 545.80 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 529.26 545.80 Td ($0.65) Tj ET Q BT /F1 11.00 Tf ET BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 532.60 Td (per ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 75.19 532.60 Td (diluted ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 108.89 532.60 Td (share ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 135.25 532.60 Td (attributable ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 188.49 532.60 Td (to ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 200.20 532.60 Td (Macy) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 228.30 532.60 Td (s, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 238.48 532.60 Td (Inc. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 258.19 532.60 Td (This ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 280.90 532.60 Td (compares ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 326.20 532.60 Td (to ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 337.90 532.60 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 354.49 532.60 Td (fourth ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 384.52 532.60 Td (quarter ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 418.81 532.60 Td (of ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 431.13 532.60 Td (2017, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 459.03 532.60 Td (when ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 486.00 532.60 Td (asset ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 510.53 532.60 Td (sale ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 530.78 532.60 Td (gains ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 519.40 Td (totaled ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 90.68 519.40 Td ($368 ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 115.43 519.40 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 147.21 519.40 Td ( ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 149.96 519.40 Td (pre-tax, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 186.61 519.40 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 198.52 519.40 Td ($230 ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 223.27 519.40 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 255.05 519.40 Td ( ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 257.80 519.40 Td (after) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 277.73 519.40 Td (-tax ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 297.58 519.40 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 316.22 519.40 Td ($0.75) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 340.97 519.40 Td ( ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 343.72 519.40 Td (per ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 360.51 519.40 Td (diluted ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 393.81 519.40 Td (share ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 419.77 519.40 Td (attributable ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 472.61 519.40 Td (to ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 483.92 519.40 Td (Macy) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 512.02 519.40 Td (s, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 521.80 519.40 Td (Inc. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 541.34 519.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 494.20 Td (In ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 70.15 494.20 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 86.57 494.20 Td (fourth ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 116.44 494.20 Td (quarter ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 150.58 494.20 Td (of ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 162.73 494.20 Td (2018, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 190.46 494.20 Td (Macy) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 218.56 494.20 Td (s, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 228.58 494.20 Td (Inc. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 248.36 494.20 Td (completed ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 297.16 494.20 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 313.59 494.20 Td (sale ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 333.68 494.20 Td (of ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 345.83 494.20 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 362.25 494.20 Td (former ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 395.17 494.20 Td (I. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 404.56 494.20 Td (Magnin ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 441.77 494.20 Td (building ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 481.42 494.20 Td (in ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 492.97 494.20 Td (Union ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 523.45 494.20 Td (Square ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 481.00 Td (San ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 76.80 481.00 Td (Francisco ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 121.87 481.00 Td (for ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 137.00 481.00 Td ($250 ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 161.30 481.00 Td (million ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 195.39 481.00 Td (of ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 206.85 481.00 Td (cash ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 228.70 481.00 Td (proceeds ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 270.09 481.00 Td (and ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 288.28 481.00 Td (a ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 295.46 481.00 Td (gain ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 316.70 481.00 Td (of ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 328.17 481.00 Td ($178 ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 352.47 481.00 Td (million. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 389.31 481.00 Td (Following ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 436.84 481.00 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 452.58 481.00 Td (transaction, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 505.89 481.00 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 521.63 481.00 Td (Macy) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 549.73 481.00 Td (s ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 467.80 Td (Union ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 88.78 467.80 Td (Square ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 122.60 467.80 Td (store ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 147.26 467.80 Td (will ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 167.65 467.80 Td (comprise ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 211.25 467.80 Td (approximately ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 278.06 467.80 Td (700,000 ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 317.09 467.80 Td (gross ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 343.59 467.80 Td (square ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 375.58 467.80 Td (feet. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 398.09 467.80 Td (Macy) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 426.19 467.80 Td (s ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 433.75 467.80 Td (Union ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 464.53 467.80 Td (Square ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 498.35 467.80 Td (is ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 508.97 467.80 Td (one ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 528.13 467.80 Td (of ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 540.57 467.80 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 454.60 Td (company) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 101.38 454.60 Td (s ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 108.65 454.60 Td (flagship ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 147.09 454.60 Td (properties, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 196.82 454.60 Td (and ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 215.70 454.60 Td (this ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 234.59 454.60 Td (transaction ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 285.85 454.60 Td (is ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 296.18 454.60 Td (part ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 316.28 454.60 Td (of ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 328.44 454.60 Td (a ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 336.32 454.60 Td (multi-year ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 385.13 454.60 Td (plan ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 407.07 454.60 Td (to ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 418.62 454.60 Td (invest ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 447.89 454.60 Td (in ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 459.45 454.60 Td (further ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 492.37 454.60 Td (enhancing ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 540.57 454.60 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 441.40 Td (customer ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 101.07 441.40 Td (experience ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 151.45 441.40 Td (in ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 162.76 441.40 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 178.95 441.40 Td (store.) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 415.00 Td (Asset ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 85.03 415.00 Td (sale ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 104.72 415.00 Td (gains ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 130.53 415.00 Td (for ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 145.94 415.00 Td (fiscal ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 172.35 415.00 Td (2018 ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 196.94 415.00 Td (totaled ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 229.46 415.00 Td ($389 ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 254.04 415.00 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 285.82 415.00 Td ( ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 288.41 415.00 Td (pre-tax, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 324.90 415.00 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 336.65 415.00 Td ($287 ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 361.23 415.00 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 393.02 415.00 Td ( ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 395.60 415.00 Td (after) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 415.53 415.00 Td (-tax ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 435.22 415.00 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 453.69 415.00 Td ($0.92) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 478.44 415.00 Td ( ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 481.03 415.00 Td (per ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 497.66 415.00 Td (diluted ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 530.80 415.00 Td (share ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 401.80 Td (attributable ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 111.57 401.80 Td (to ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 123.60 401.80 Td (Macy) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 151.70 401.80 Td (s, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 162.21 401.80 Td (Inc. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 182.24 401.80 Td (This ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 205.27 401.80 Td (compares ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 250.89 401.80 Td (to ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 262.93 401.80 Td (2017 ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 288.41 401.80 Td (when ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 315.71 401.80 Td (asset ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 340.57 401.80 Td (sale ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 361.15 401.80 Td (gains ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 387.85 401.80 Td (totaled ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 421.26 401.80 Td ($544 ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 446.74 401.80 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 478.52 401.80 Td ( ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 482.00 401.80 Td (pre-tax, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 519.37 401.80 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 532.01 401.80 Td ($338 ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 388.60 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 89.78 388.60 Td ( ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 92.53 388.60 Td (after) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 112.46 388.60 Td (-tax ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 132.31 388.60 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 150.94 388.60 Td ($1.10) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 175.69 388.60 Td ( ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 178.44 388.60 Td (per ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 195.24 388.60 Td (diluted ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 228.54 388.60 Td (share ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 254.50 388.60 Td (attributable ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 307.34 388.60 Td (to ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 318.64 388.60 Td (Macy) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 346.74 388.60 Td (s, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 356.53 388.60 Td (Inc. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 376.07 388.60 Td ( ) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 58.00 357.45 Td (2018 ) Tj ET Q q 0 0 0 rg BT 82.75 357.45 Td (Strategic ) Tj ET Q q 0 0 0 rg BT 127.65 357.45 Td (Initiatives ) Tj ET Q q 0 0 0 rg BT 177.45 357.45 Td (Update) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 332.25 Td (The ) Tj ET Q q 0 0 0 rg BT 78.63 332.25 Td (company) Tj ET Q q 0 0 0 rg BT 122.01 332.25 Td (s ) Tj ET Q q 0 0 0 rg BT 129.81 332.25 Td (five ) Tj ET Q q 0 0 0 rg BT 150.44 332.25 Td (key ) Tj ET Q q 0 0 0 rg BT 169.85 332.25 Td (strategic ) Tj ET Q q 0 0 0 rg BT 210.64 332.25 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 257.55 332.25 Td (of ) Tj ET Q q 0 0 0 rg BT 270.24 332.25 Td (the ) Tj ET Q q 0 0 0 rg BT 287.21 332.25 Td (North ) Tj ET Q q 0 0 0 rg BT 316.40 332.25 Td (Star ) Tj ET Q q 0 0 0 rg BT 337.64 332.25 Td (Strategy ) Tj ET Q q 0 0 0 rg BT 377.83 332.25 Td (performed ) Tj ET Q q 0 0 0 rg BT 427.16 332.25 Td (well ) Tj ET Q q 0 0 0 rg BT 449.63 332.25 Td (for ) Tj ET Q q 0 0 0 rg BT 465.98 332.25 Td (the ) Tj ET Q q 0 0 0 rg BT 482.95 332.25 Td (year) Tj ET Q q 0 0 0 rg BT 501.27 332.25 Td (. ) Tj ET Q q 0 0 0 rg BT 507.55 332.25 Td (Highlights ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 319.05 Td (include: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 305.85 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 94.00 305.85 Td (Loyalty) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 130.06 305.85 Td (: ) Tj ET Q q 0 0 0 rg BT 136.82 305.85 Td (Improved ) Tj ET Q q 0 0 0 rg BT 183.30 305.85 Td (benefits ) Tj ET Q q 0 0 0 rg BT 221.83 305.85 Td (to ) Tj ET Q q 0 0 0 rg BT 234.09 305.85 Td (Macy) Tj ET Q q 0 0 0 rg BT 262.20 305.85 Td (s ) Tj ET Q q 0 0 0 rg BT 270.19 305.85 Td (Star ) Tj ET Q q 0 0 0 rg BT 291.62 305.85 Td (Rewards ) Tj ET Q q 0 0 0 rg BT 333.81 305.85 Td (member ) Tj ET Q q 0 0 0 rg BT 373.56 305.85 Td (loyalty ) Tj ET Q q 0 0 0 rg BT 407.83 305.85 Td (program ) Tj ET Q q 0 0 0 rg BT 448.80 305.85 Td (led ) Tj ET Q q 0 0 0 rg BT 465.95 305.85 Td (to ) Tj ET Q q 0 0 0 rg BT 478.21 305.85 Td (increased ) Tj ET Q q 0 0 0 rg BT 523.45 305.85 Td (loyalty ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 292.65 Td (penetration ) Tj ET Q q 0 0 0 rg BT 146.34 292.65 Td (with ) Tj ET Q q 0 0 0 rg BT 168.76 292.65 Td (platinum ) Tj ET Q q 0 0 0 rg BT 210.73 292.65 Td (members, ) Tj ET Q q 0 0 0 rg BT 256.67 292.65 Td (with ) Tj ET Q q 0 0 0 rg BT 279.09 292.65 Td (platinum ) Tj ET Q q 0 0 0 rg BT 321.06 292.65 Td (spend ) Tj ET Q q 0 0 0 rg BT 349.59 292.65 Td (up ) Tj ET Q q 0 0 0 rg BT 363.45 292.65 Td (10%. ) Tj ET Q q 0 0 0 rg BT 389.02 292.65 Td (The ) Tj ET Q q 0 0 0 rg BT 408.99 292.65 Td (company ) Tj ET Q q 0 0 0 rg BT 452.17 292.65 Td (also ) Tj ET Q q 0 0 0 rg BT 472.76 292.65 Td (launched ) Tj ET Q q 0 0 0 rg BT 515.32 292.65 Td (a ) Tj ET Q q 0 0 0 rg BT 523.07 292.65 Td (tender) Tj ET Q q 0 0 0 rg BT 550.33 292.65 Td (-) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 279.45 Td (neutral ) Tj ET Q q 0 0 0 rg BT 127.29 279.45 Td (option, ) Tj ET Q q 0 0 0 rg BT 160.90 279.45 Td (which ) Tj ET Q q 0 0 0 rg BT 190.53 279.45 Td (added ) Tj ET Q q 0 0 0 rg BT 219.55 279.45 Td (more ) Tj ET Q q 0 0 0 rg BT 244.90 279.45 Td (than ) Tj ET Q q 0 0 0 rg BT 266.59 279.45 Td (three ) Tj ET Q q 0 0 0 rg BT 291.32 279.45 Td (million ) Tj ET Q q 0 0 0 rg BT 325.85 279.45 Td (new ) Tj ET Q q 0 0 0 rg BT 346.93 279.45 Td (members ) Tj ET Q q 0 0 0 rg BT 390.00 279.45 Td (to ) Tj ET Q q 0 0 0 rg BT 401.31 279.45 Td (the ) Tj ET Q q 0 0 0 rg BT 417.50 279.45 Td (loyalty ) Tj ET Q q 0 0 0 rg BT 450.80 279.45 Td (program. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 266.25 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 94.00 266.25 Td (Backstage) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 141.66 266.25 Td (: ) Tj ET Q q 0 0 0 rg BT 146.77 266.25 Td (Opened ) Tj ET Q q 0 0 0 rg BT 183.04 266.25 Td (Backstage, ) Tj ET Q q 0 0 0 rg BT 233.05 266.25 Td (Macy) Tj ET Q q 0 0 0 rg BT 261.15 266.25 Td (s ) Tj ET Q q 0 0 0 rg BT 267.49 266.25 Td (on-mall, ) Tj ET Q q 0 0 0 rg BT 306.51 266.25 Td (of) Tj ET Q q 0 0 0 rg BT 315.47 266.25 Td (f-price ) Tj ET Q q 0 0 0 rg BT 346.84 266.25 Td (business, ) Tj ET Q q 0 0 0 rg BT 388.92 266.25 Td (in ) Tj ET Q q 0 0 0 rg BT 399.53 266.25 Td (more ) Tj ET Q q 0 0 0 rg BT 424.19 266.25 Td (than ) Tj ET Q q 0 0 0 rg BT 445.19 266.25 Td (120 ) Tj ET Q q 0 0 0 rg BT 463.74 266.25 Td (new ) Tj ET Q q 0 0 0 rg BT 484.12 266.25 Td (locations ) Tj ET Q q 0 0 0 rg BT 525.89 266.25 Td (within ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 253.05 Td (Macy) Tj ET Q q 0 0 0 rg BT 122.10 253.05 Td (s ) Tj ET Q q 0 0 0 rg BT 129.37 253.05 Td (stores. ) Tj ET Q q 0 0 0 rg BT 160.77 253.05 Td (For ) Tj ET Q q 0 0 0 rg BT 179.04 253.05 Td (all ) Tj ET Q q 0 0 0 rg BT 193.02 253.05 Td (Backstage ) Tj ET Q q 0 0 0 rg BT 241.21 253.05 Td (store ) Tj ET Q q 0 0 0 rg BT 265.57 253.05 Td (within ) Tj ET Q q 0 0 0 rg BT 296.67 253.05 Td (a ) Tj ET Q q 0 0 0 rg BT 304.54 253.05 Td (store ) Tj ET Q q 0 0 0 rg BT 328.91 253.05 Td (locations, ) Tj ET Q q 0 0 0 rg BT 374.36 253.05 Td (the ) Tj ET Q q 0 0 0 rg BT 390.79 253.05 Td (average ) Tj ET Q q 0 0 0 rg BT 427.96 253.05 Td (lift ) Tj ET Q q 0 0 0 rg BT 443.78 253.05 Td (was ) Tj ET Q q 0 0 0 rg BT 463.88 253.05 Td (more ) Tj ET Q q 0 0 0 rg BT 489.46 253.05 Td (than ) Tj ET Q q 0 0 0 rg BT 511.39 253.05 Td (5% ) Tj ET Q q 0 0 0 rg BT 529.04 253.05 Td (in ) Tj ET Q q 0 0 0 rg BT 540.58 253.05 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 239.85 Td (total ) Tj ET Q q 0 0 0 rg BT 116.30 239.85 Td (store.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 76.00 226.65 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 94.00 226.65 Td (Stor) Tj ET Q q 0 0 0 rg BT 113.96 226.65 Td (e ) Tj ET Q q 0 0 0 rg BT 124.61 226.65 Td (Pickup:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 161.29 226.65 Td ( ) Tj ET Q q 0 0 0 rg BT 167.05 226.65 Td (Expanded ) Tj ET Q q 0 0 0 rg BT 216.80 226.65 Td (Buy ) Tj ET Q q 0 0 0 rg BT 245.78 226.65 Td (Online ) Tj ET Q q 0 0 0 rg BT 281.49 226.65 Td (Pickup ) Tj ET Q q 0 0 0 rg BT 317.81 226.65 Td (in ) Tj ET Q q 0 0 0 rg BT 332.13 226.65 Td (Store ) Tj ET Q q 0 0 0 rg BT 365.99 226.65 Td (\(BOPS\), ) Tj ET Q q 0 0 0 rg BT 409.35 226.65 Td (launched ) Tj ET Q q 0 0 0 rg BT 454.82 226.65 Td (Buy ) Tj ET Q q 0 0 0 rg BT 483.80 226.65 Td (Online ) Tj ET Q q 0 0 0 rg BT 519.50 226.65 Td (Ship ) Tj ET Q q 0 0 0 rg BT 545.44 226.65 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 213.45 Td (Store ) Tj ET Q q 0 0 0 rg BT 127.03 213.45 Td (\(BOSS\) ) Tj ET Q q 0 0 0 rg BT 166.79 213.45 Td (feature, ) Tj ET Q q 0 0 0 rg BT 205.00 213.45 Td (and ) Tj ET Q q 0 0 0 rg BT 225.80 213.45 Td (built ) Tj ET Q q 0 0 0 rg BT 250.90 213.45 Td ("At ) Tj ET Q q 0 0 0 rg BT 270.58 213.45 Td (Y) Tj ET Q q 0 0 0 rg BT 277.42 213.45 Td (our ) Tj ET Q q 0 0 0 rg BT 297.01 213.45 Td (Service" ) Tj ET Q q 0 0 0 rg BT 339.41 213.45 Td (centers ) Tj ET Q q 0 0 0 rg BT 375.48 213.45 Td (in ) Tj ET Q q 0 0 0 rg BT 388.96 213.45 Td (all ) Tj ET Q q 0 0 0 rg BT 404.88 213.45 Td (stores. ) Tj ET Q q 0 0 0 rg BT 437.86 213.45 Td (The ) Tj ET Q q 0 0 0 rg BT 459.89 213.45 Td (company ) Tj ET Q q 0 0 0 rg BT 505.13 213.45 Td (maintained ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 200.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 160.28 200.25 Td (25% ) Tj ET Q q 0 0 0 rg BT 183.20 200.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 231.15 200.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 255.28 200.25 Td (on ) Tj ET Q q 0 0 0 rg BT 269.03 200.25 Td (BOPS ) Tj ET Q q 0 0 0 rg BT 299.30 200.25 Td (and ) Tj ET Q q 0 0 0 rg BT 317.93 200.25 Td (BOSS ) Tj ET Q q 0 0 0 rg BT 348.20 200.25 Td (orders.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 187.05 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 94.00 187.05 Td (V) Tj ET Q q 0 0 0 rg BT 100.93 187.05 Td (endor) Tj ET Q q 0 0 0 rg BT 128.24 187.05 Td ( ) Tj ET Q q 0 0 0 rg BT 130.99 187.05 Td (Dir) Tj ET Q q 0 0 0 rg BT 146.67 187.05 Td (ect:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 163.76 187.05 Td ( ) Tj ET Q q 0 0 0 rg BT 166.51 187.05 Td (Expanded ) Tj ET Q q 0 0 0 rg BT 213.24 187.05 Td (vendor ) Tj ET Q q 0 0 0 rg BT 246.54 187.05 Td (direct ) Tj ET Q q 0 0 0 rg BT 274.33 187.05 Td (program ) Tj ET Q q 0 0 0 rg BT 314.34 187.05 Td (on ) Tj ET Q q 0 0 0 rg BT 328.09 187.05 Td (macys.com, ) Tj ET Q q 0 0 0 rg BT 383.38 187.05 Td (nearly ) Tj ET Q q 0 0 0 rg BT 413.62 187.05 Td (doubling ) Tj ET Q q 0 0 0 rg BT 455.48 187.05 Td (online ) Tj ET Q q 0 0 0 rg BT 485.72 187.05 Td (SKUs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 173.85 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 94.00 173.85 Td (Gr) Tj ET Q q 0 0 0 rg BT 107.24 173.85 Td (owth50: ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 147.29 173.85 Td (Implemented ) Tj ET Q q 0 0 0 rg BT 207.49 173.85 Td (growth ) Tj ET Q q 0 0 0 rg BT 240.82 173.85 Td (investment ) Tj ET Q q 0 0 0 rg BT 291.25 173.85 Td (model ) Tj ET Q q 0 0 0 rg BT 320.91 173.85 Td (in ) Tj ET Q q 0 0 0 rg BT 331.63 173.85 Td (50 ) Tj ET Q q 0 0 0 rg BT 344.80 173.85 Td (Macy's ) Tj ET Q q 0 0 0 rg BT 378.27 173.85 Td (stores, ) Tj ET Q q 0 0 0 rg BT 408.85 173.85 Td (a ) Tj ET Q q 0 0 0 rg BT 415.90 173.85 Td (mix ) Tj ET Q q 0 0 0 rg BT 435.17 173.85 Td (of ) Tj ET Q q 0 0 0 rg BT 446.50 173.85 Td (size ) Tj ET Q q 0 0 0 rg BT 465.77 173.85 Td (and ) Tj ET Q q 0 0 0 rg BT 483.81 173.85 Td (geography) Tj ET Q q 0 0 0 rg BT 529.53 173.85 Td (, ) Tj ET Q q 0 0 0 rg BT 534.44 173.85 Td (with ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 160.65 Td (upgrades ) Tj ET Q q 0 0 0 rg BT 137.26 160.65 Td (including ) Tj ET Q q 0 0 0 rg BT 182.36 160.65 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 226.53 160.65 Td (fixtures, ) Tj ET Q q 0 0 0 rg BT 266.43 160.65 Td (assortment ) Tj ET Q q 0 0 0 rg BT 317.63 160.65 Td (and ) Tj ET Q q 0 0 0 rg BT 337.07 160.65 Td (customer ) Tj ET Q q 0 0 0 rg BT 380.94 160.65 Td (service. ) Tj ET Q q 0 0 0 rg BT 418.12 160.65 Td (These ) Tj ET Q q 0 0 0 rg BT 447.94 160.65 Td (stores ) Tj ET Q q 0 0 0 rg BT 477.15 160.65 Td (outperformed ) Tj ET Q q 0 0 0 rg BT 540.56 160.65 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 147.45 Td (fleet ) Tj ET Q q 0 0 0 rg BT 116.13 147.45 Td (for ) Tj ET Q q 0 0 0 rg BT 131.54 147.45 Td (sales ) Tj ET Q q 0 0 0 rg BT 155.51 147.45 Td (growth ) Tj ET Q q 0 0 0 rg BT 189.26 147.45 Td (in ) Tj ET Q q 0 0 0 rg BT 200.40 147.45 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 226.81 147.45 Td (2018 ) Tj ET Q q 0 0 0 rg BT 251.40 147.45 Td (and ) Tj ET Q q 0 0 0 rg BT 269.87 147.45 Td (achieved ) Tj ET Q q 0 0 0 rg BT 311.54 147.45 Td (higher ) Tj ET Q q 0 0 0 rg BT 342.23 147.45 Td (customer ) Tj ET Q q 0 0 0 rg BT 385.14 147.45 Td (retention ) Tj ET Q q 0 0 0 rg BT 426.82 147.45 Td (and ) Tj ET Q q 0 0 0 rg BT 445.29 147.45 Td (brand ) Tj ET Q q 0 0 0 rg BT 472.93 147.45 Td (attachment ) Tj ET Q q 0 0 0 rg BT 523.77 147.45 Td (scores.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 58.00 121.05 Td (Looking ) Tj ET Q q 0 0 0 rg BT 99.27 121.05 Td (Ahead) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 58.00 94.65 Td (2019 ) Tj ET Q q 0 0 0 rg BT 82.75 94.65 Td (Strategic ) Tj ET Q q 0 0 0 rg BT 125.21 94.65 Td (Initiatives ) Tj ET Q q 0 0 0 rg BT 171.95 94.65 Td (to ) Tj ET Q q 0 0 0 rg BT 183.26 94.65 Td (Drive ) Tj ET Q q 0 0 0 rg BT 211.05 94.65 Td (Gr) Tj ET Q q 0 0 0 rg BT 222.87 94.65 Td (owth) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 69.45 Td (The ) Tj ET Q q 0 0 0 rg BT 77.85 69.45 Td (company ) Tj ET Q q 0 0 0 rg BT 120.92 69.45 Td (will ) Tj ET Q q 0 0 0 rg BT 140.78 69.45 Td (carry ) Tj ET Q q 0 0 0 rg BT 166.13 69.45 Td (three ) Tj ET Q q 0 0 0 rg BT 190.86 69.45 Td (of ) Tj ET Q q 0 0 0 rg BT 202.77 69.45 Td (its ) Tj ET Q q 0 0 0 rg BT 215.92 69.45 Td (2018 ) Tj ET Q q 0 0 0 rg BT 240.67 69.45 Td (strategic ) Tj ET Q q 0 0 0 rg BT 280.67 69.45 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 326.81 69.45 Td (forward ) Tj ET Q q 0 0 0 rg BT 364.37 69.45 Td (and ) Tj ET Q q 0 0 0 rg BT 383.00 69.45 Td (add ) Tj ET Q q 0 0 0 rg BT 401.64 69.45 Td (two ) Tj ET Q q 0 0 0 rg BT 420.89 69.45 Td (new ) Tj ET Q q 0 0 0 rg BT 441.96 69.45 Td (areas ) Tj ET Q q 0 0 0 rg BT 467.30 69.45 Td (of ) Tj ET Q q 0 0 0 rg BT 479.22 69.45 Td (focus ) Tj ET Q q 0 0 0 rg BT 505.79 69.45 Td (in ) Tj ET Q q 0 0 0 rg BT 517.10 69.45 Td (2019: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 56.25 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 94.00 56.25 Td (Gr) Tj ET Q q 0 0 0 rg BT 107.24 56.25 Td (owth150: ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 153.38 56.25 Td (Expand ) Tj ET Q q 0 0 0 rg BT 189.73 56.25 Td (growth ) Tj ET Q q 0 0 0 rg BT 223.64 56.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 274.66 56.25 Td (strategy ) Tj ET Q q 0 0 0 rg BT 312.23 56.25 Td (to ) Tj ET Q q 0 0 0 rg BT 323.54 56.25 Td (another ) Tj ET Q q 0 0 0 rg BT 359.27 56.25 Td (100 ) Tj ET Q q 0 0 0 rg BT 378.52 56.25 Td (stores. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 43.05 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 94.00 43.05 Td (Backstage: ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 148.68 43.05 Td (Add ) Tj ET Q q 0 0 0 rg BT 170.99 43.05 Td (Backstage ) Tj ET Q q 0 0 0 rg BT 219.55 43.05 Td (locations ) Tj ET Q q 0 0 0 rg BT 262.62 43.05 Td (to ) Tj ET Q q 0 0 0 rg BT 274.54 43.05 Td (45 ) Tj ET Q q 0 0 0 rg BT 288.89 43.05 Td (Macy) Tj ET Q q 0 0 0 rg BT 317.00 43.05 Td (s ) Tj ET Q q 0 0 0 rg BT 324.63 43.05 Td (stores ) Tj ET Q q 0 0 0 rg BT 353.66 43.05 Td (and ) Tj ET Q q 0 0 0 rg BT 372.90 43.05 Td (deliver ) Tj ET Q q 0 0 0 rg BT 406.79 43.05 Td (positive ) Tj ET Q q 0 0 0 rg BT 444.98 43.05 Td (comparable ) Tj ET Q q 0 0 0 rg BT 499.65 43.05 Td (sales ) Tj ET Q q 0 0 0 rg BT 524.39 43.05 Td (for ) Tj ET Q q 0 0 0 rg BT 540.57 43.05 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 29.85 Td (Backstage ) Tj ET Q q 0 0 0 rg BT 141.95 29.85 Td (stores ) Tj ET Q q 0 0 0 rg BT 170.37 29.85 Td (previously ) Tj ET Q q 0 0 0 rg BT 219.55 29.85 Td (opened.) Tj ET Q endstream endobj 7 0 obj <> endobj 8 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.00 772.60 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 741.60 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 94.00 741.60 Td (V) Tj ET Q q 0 0 0 rg BT 100.93 741.60 Td (endor) Tj ET Q q 0 0 0 rg BT 128.24 741.60 Td ( ) Tj ET Q q 0 0 0 rg BT 130.85 741.60 Td (Dir) Tj ET Q q 0 0 0 rg BT 146.53 741.60 Td (ect: ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 166.24 741.60 Td (Build ) Tj ET Q q 0 0 0 rg BT 193.31 741.60 Td (on ) Tj ET Q q 0 0 0 rg BT 206.92 741.60 Td (the ) Tj ET Q q 0 0 0 rg BT 222.98 741.60 Td (success ) Tj ET Q q 0 0 0 rg BT 258.58 741.60 Td (of ) Tj ET Q q 0 0 0 rg BT 270.36 741.60 Td (the ) Tj ET Q q 0 0 0 rg BT 286.41 741.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 311.03 741.60 Td (launch ) Tj ET Q q 0 0 0 rg BT 342.97 741.60 Td (with ) Tj ET Q q 0 0 0 rg BT 365.14 741.60 Td (continued ) Tj ET Q q 0 0 0 rg BT 411.13 741.60 Td (aggressive ) Tj ET Q q 0 0 0 rg BT 460.17 741.60 Td (expansion ) Tj ET Q q 0 0 0 rg BT 507.39 741.60 Td (of ) Tj ET Q q 0 0 0 rg BT 519.17 741.60 Td (vendors ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 728.40 Td (and ) Tj ET Q q 0 0 0 rg BT 112.63 728.40 Td (SKUs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 715.20 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 94.00 715.20 Td (Mobile: ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 133.34 715.20 Td (Continue ) Tj ET Q q 0 0 0 rg BT 176.34 715.20 Td (mobile ) Tj ET Q q 0 0 0 rg BT 213.24 715.20 Td (first) Tj ET Q q 0 0 0 rg BT 233.80 715.20 Td ( ) Tj ET Q q 0 0 0 rg BT 236.48 715.20 Td (strategy) Tj ET Q q 0 0 0 rg BT 270.59 715.20 Td (. ) Tj ET Q q 0 0 0 rg BT 276.01 715.20 Td (Strategically ) Tj ET Q q 0 0 0 rg BT 334.28 715.20 Td (enhance ) Tj ET Q q 0 0 0 rg BT 372.99 715.20 Td (the ) Tj ET Q q 0 0 0 rg BT 389.11 715.20 Td (Macy) Tj ET Q q 0 0 0 rg BT 417.21 715.20 Td (s ) Tj ET Q q 0 0 0 rg BT 424.17 715.20 Td (mobile ) Tj ET Q q 0 0 0 rg BT 457.39 715.20 Td (app ) Tj ET Q q 0 0 0 rg BT 475.95 715.20 Td (with ) Tj ET Q q 0 0 0 rg BT 498.19 715.20 Td (new ) Tj ET Q q 0 0 0 rg BT 519.19 715.20 Td (features ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 702.00 Td (and ) Tj ET Q q 0 0 0 rg BT 112.63 702.00 Td (functions ) Tj ET Q q 0 0 0 rg BT 156.32 702.00 Td (to ) Tj ET Q q 0 0 0 rg BT 167.63 702.00 Td (deliver ) Tj ET Q q 0 0 0 rg BT 200.92 702.00 Td (outsized ) Tj ET Q q 0 0 0 rg BT 240.32 702.00 Td (growth ) Tj ET Q q 0 0 0 rg BT 274.24 702.00 Td (in ) Tj ET Q q 0 0 0 rg BT 285.54 702.00 Td (mobile ) Tj ET Q q 0 0 0 rg BT 318.84 702.00 Td (sales.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 688.80 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 94.00 688.80 Td (Destination ) Tj ET Q q 0 0 0 rg BT 151.71 688.80 Td (Businesses: ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 208.81 688.80 Td (Invest ) Tj ET Q q 0 0 0 rg BT 239.62 688.80 Td (in ) Tj ET Q q 0 0 0 rg BT 252.10 688.80 Td (areas ) Tj ET Q q 0 0 0 rg BT 278.61 688.80 Td (where ) Tj ET Q q 0 0 0 rg BT 309.41 688.80 Td (the ) Tj ET Q q 0 0 0 rg BT 326.77 688.80 Td (company ) Tj ET Q q 0 0 0 rg BT 371.02 688.80 Td (already ) Tj ET Q q 0 0 0 rg BT 407.31 688.80 Td (has ) Tj ET Q q 0 0 0 rg BT 425.90 688.80 Td (strong ) Tj ET Q q 0 0 0 rg BT 457.32 688.80 Td (market ) Tj ET Q q 0 0 0 rg BT 491.79 688.80 Td (share ) Tj ET Q q 0 0 0 rg BT 518.92 688.80 Td (to ) Tj ET Q q 0 0 0 rg BT 531.40 688.80 Td (drive ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 675.60 Td (disproportionate ) Tj ET Q q 0 0 0 rg BT 169.50 675.60 Td (growth. ) Tj ET Q q 0 0 0 rg BT 206.57 675.60 Td (These ) Tj ET Q q 0 0 0 rg BT 236.23 675.60 Td (categories ) Tj ET Q q 0 0 0 rg BT 284.22 675.60 Td (are ) Tj ET Q q 0 0 0 rg BT 301.05 675.60 Td (dresses, ) Tj ET Q q 0 0 0 rg BT 338.97 675.60 Td (fine ) Tj ET Q q 0 0 0 rg BT 359.47 675.60 Td (jewelry) Tj ET Q q 0 0 0 rg BT 391.74 675.60 Td (, ) Tj ET Q q 0 0 0 rg BT 397.89 675.60 Td (big ) Tj ET Q q 0 0 0 rg BT 415.35 675.60 Td (ticket, ) Tj ET Q q 0 0 0 rg BT 445.94 675.60 Td (men) Tj ET Q q 0 0 0 rg BT 467.93 675.60 Td (s ) Tj ET Q q 0 0 0 rg BT 475.61 675.60 Td (tailored, ) Tj ET Q q 0 0 0 rg BT 515.36 675.60 Td (women's ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 662.40 Td (shoes ) Tj ET Q q 0 0 0 rg BT 121.19 662.40 Td (and ) Tj ET Q q 0 0 0 rg BT 139.83 662.40 Td (beauty) Tj ET Q q 0 0 0 rg BT 168.43 662.40 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 637.20 Td (The ) Tj ET Q q 0 0 0 rg BT 76.80 637.20 Td (company ) Tj ET Q q 0 0 0 rg BT 118.82 637.20 Td (also ) Tj ET Q q 0 0 0 rg BT 138.25 637.20 Td (intends ) Tj ET Q q 0 0 0 rg BT 171.72 637.20 Td (to ) Tj ET Q q 0 0 0 rg BT 181.98 637.20 Td (focus ) Tj ET Q q 0 0 0 rg BT 207.51 637.20 Td (on ) Tj ET Q q 0 0 0 rg BT 220.21 637.20 Td (innovation ) Tj ET Q q 0 0 0 rg BT 268.96 637.20 Td (both ) Tj ET Q q 0 0 0 rg BT 290.22 637.20 Td (through ) Tj ET Q q 0 0 0 rg BT 326.14 637.20 Td (technology ) Tj ET Q q 0 0 0 rg BT 376.72 637.20 Td (and ) Tj ET Q q 0 0 0 rg BT 394.30 637.20 Td (new ) Tj ET Q q 0 0 0 rg BT 414.33 637.20 Td (economic ) Tj ET Q q 0 0 0 rg BT 458.79 637.20 Td (models. ) Tj ET Q q 0 0 0 rg BT 494.89 637.20 Td (The ) Tj ET Q q 0 0 0 rg BT 513.69 637.20 Td (company ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 624.00 Td (will ) Tj ET Q q 0 0 0 rg BT 78.41 624.00 Td (double ) Tj ET Q q 0 0 0 rg BT 111.65 624.00 Td (the ) Tj ET Q q 0 0 0 rg BT 128.39 624.00 Td (number ) Tj ET Q q 0 0 0 rg BT 165.30 624.00 Td (of ) Tj ET Q q 0 0 0 rg BT 177.76 624.00 Td (Market ) Tj ET Q q 0 0 0 rg BT 212.83 624.00 Td (@ ) Tj ET Q q 0 0 0 rg BT 226.26 624.00 Td (Macy) Tj ET Q q 0 0 0 rg BT 254.36 624.00 Td (s ) Tj ET Q q 0 0 0 rg BT 261.94 624.00 Td (locations, ) Tj ET Q q 0 0 0 rg BT 307.71 624.00 Td (all ) Tj ET Q q 0 0 0 rg BT 322.01 624.00 Td (of ) Tj ET Q q 0 0 0 rg BT 334.47 624.00 Td (which ) Tj ET Q q 0 0 0 rg BT 364.66 624.00 Td (will ) Tj ET Q q 0 0 0 rg BT 385.07 624.00 Td (be ) Tj ET Q q 0 0 0 rg BT 398.75 624.00 Td (powered ) Tj ET Q q 0 0 0 rg BT 439.93 624.00 Td (by ) Tj ET Q q 0 0 0 rg BT 454.23 624.00 Td (the ) Tj ET Q q 0 0 0 rg BT 470.97 624.00 Td (b8ta ) Tj ET Q q 0 0 0 rg BT 493.21 624.00 Td (platform. ) Tj ET Q q 0 0 0 rg BT 536.90 624.00 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 610.80 Td (company ) Tj ET Q q 0 0 0 rg BT 101.07 610.80 Td (will ) Tj ET Q q 0 0 0 rg BT 120.93 610.80 Td (also ) Tj ET Q q 0 0 0 rg BT 141.40 610.80 Td (continue ) Tj ET Q q 0 0 0 rg BT 182.03 610.80 Td (to ) Tj ET Q q 0 0 0 rg BT 193.34 610.80 Td (expand ) Tj ET Q q 0 0 0 rg BT 227.85 610.80 Td (its ) Tj ET Q q 0 0 0 rg BT 240.99 610.80 Td (virtual ) Tj ET Q q 0 0 0 rg BT 272.46 610.80 Td (reality ) Tj ET Q q 0 0 0 rg BT 303.30 610.80 Td (furniture ) Tj ET Q q 0 0 0 rg BT 344.54 610.80 Td (experience ) Tj ET Q q 0 0 0 rg BT 394.92 610.80 Td (in ) Tj ET Q q 0 0 0 rg BT 406.22 610.80 Td (2019.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 58.00 585.60 Td (Funding ) Tj ET Q q 0 0 0 rg BT 98.03 585.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 118.50 585.60 Td (Futur) Tj ET Q q 0 0 0 rg BT 143.15 585.60 Td (e) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 559.20 Td (As ) Tj ET Q q 0 0 0 rg BT 73.26 559.20 Td (part ) Tj ET Q q 0 0 0 rg BT 93.40 559.20 Td (of ) Tj ET Q q 0 0 0 rg BT 105.60 559.20 Td (the ) Tj ET Q q 0 0 0 rg BT 122.08 559.20 Td (North ) Tj ET Q q 0 0 0 rg BT 150.78 559.20 Td (Star ) Tj ET Q q 0 0 0 rg BT 171.54 559.20 Td (strategy) Tj ET Q q 0 0 0 rg BT 205.65 559.20 Td (, ) Tj ET Q q 0 0 0 rg BT 211.44 559.20 Td (Macy) Tj ET Q q 0 0 0 rg BT 239.54 559.20 Td (s, ) Tj ET Q q 0 0 0 rg BT 249.61 559.20 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 269.44 559.20 Td (is ) Tj ET Q q 0 0 0 rg BT 279.82 559.20 Td (committed ) Tj ET Q q 0 0 0 rg BT 329.90 559.20 Td (to ) Tj ET Q q 0 0 0 rg BT 341.50 559.20 Td (increased ) Tj ET Q q 0 0 0 rg BT 386.06 559.20 Td (productivity ) Tj ET Q q 0 0 0 rg BT 442.87 559.20 Td (to ) Tj ET Q q 0 0 0 rg BT 454.47 559.20 Td (fund ) Tj ET Q q 0 0 0 rg BT 477.67 559.20 Td (investment ) Tj ET Q q 0 0 0 rg BT 528.98 559.20 Td (in ) Tj ET Q q 0 0 0 rg BT 540.57 559.20 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 546.00 Td (business. ) Tj ET Q q 0 0 0 rg BT 101.05 546.00 Td (The ) Tj ET Q q 0 0 0 rg BT 121.41 546.00 Td (company ) Tj ET Q q 0 0 0 rg BT 164.98 546.00 Td (has ) Tj ET Q q 0 0 0 rg BT 182.90 546.00 Td (launched ) Tj ET Q q 0 0 0 rg BT 225.86 546.00 Td (a ) Tj ET Q q 0 0 0 rg BT 234.00 546.00 Td (comprehensive, ) Tj ET Q q 0 0 0 rg BT 306.59 546.00 Td (multi-year ) Tj ET Q q 0 0 0 rg BT 355.66 546.00 Td (program ) Tj ET Q q 0 0 0 rg BT 396.18 546.00 Td (focused ) Tj ET Q q 0 0 0 rg BT 433.64 546.00 Td (on ) Tj ET Q q 0 0 0 rg BT 447.89 546.00 Td (growing ) Tj ET Q q 0 0 0 rg BT 487.81 546.00 Td (its ) Tj ET Q q 0 0 0 rg BT 501.46 546.00 Td (profitability ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 532.80 Td (rate ) Tj ET Q q 0 0 0 rg BT 77.14 532.80 Td (by ) Tj ET Q q 0 0 0 rg BT 90.80 532.80 Td (improving ) Tj ET Q q 0 0 0 rg BT 139.28 532.80 Td (productivity ) Tj ET Q q 0 0 0 rg BT 195.71 532.80 Td (across ) Tj ET Q q 0 0 0 rg BT 225.86 532.80 Td (the ) Tj ET Q q 0 0 0 rg BT 241.95 532.80 Td (enterprise.) Tj ET Q q 0 0 0 rg BT 290.62 532.80 Td (The ) Tj ET Q q 0 0 0 rg BT 310.38 532.80 Td (program ) Tj ET Q q 0 0 0 rg BT 350.30 532.80 Td (includes ) Tj ET Q q 0 0 0 rg BT 389.61 532.80 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 435.65 532.80 Td (to ) Tj ET Q q 0 0 0 rg BT 446.86 532.80 Td (improve ) Tj ET Q q 0 0 0 rg BT 486.18 532.80 Td (mar) Tj ET Q q 0 0 0 rg BT 503.08 532.80 Td (gin ) Tj ET Q q 0 0 0 rg BT 519.79 532.80 Td (through ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 519.60 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 103.24 519.60 Td (inventory ) Tj ET Q q 0 0 0 rg BT 149.10 519.60 Td (planning ) Tj ET Q q 0 0 0 rg BT 191.30 519.60 Td (and ) Tj ET Q q 0 0 0 rg BT 210.89 519.60 Td (operations, ) Tj ET Q q 0 0 0 rg BT 263.17 519.60 Td (supply ) Tj ET Q q 0 0 0 rg BT 296.21 519.60 Td (chain ) Tj ET Q q 0 0 0 rg BT 323.73 519.60 Td (ef) Tj ET Q q 0 0 0 rg BT 332.08 519.60 Td (ficiencies, ) Tj ET Q q 0 0 0 rg BT 380.68 519.60 Td (pricing ) Tj ET Q q 0 0 0 rg BT 415.54 519.60 Td (optimization, ) Tj ET Q q 0 0 0 rg BT 477.60 519.60 Td (improved ) Tj ET Q q 0 0 0 rg BT 523.46 519.60 Td (private ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 506.40 Td (brand ) Tj ET Q q 0 0 0 rg BT 85.80 506.40 Td (sourcing ) Tj ET Q q 0 0 0 rg BT 126.43 506.40 Td (and ) Tj ET Q q 0 0 0 rg BT 145.06 506.40 Td (customer ) Tj ET Q q 0 0 0 rg BT 188.13 506.40 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 239.15 506.40 Td (and ) Tj ET Q q 0 0 0 rg BT 257.78 506.40 Td (retention ) Tj ET Q q 0 0 0 rg BT 299.63 506.40 Td (strategies. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 480.00 Td (As ) Tj ET Q q 0 0 0 rg BT 72.57 480.00 Td (an ) Tj ET Q q 0 0 0 rg BT 85.31 480.00 Td (initial ) Tj ET Q q 0 0 0 rg BT 113.32 480.00 Td (step ) Tj ET Q q 0 0 0 rg BT 133.39 480.00 Td (in ) Tj ET Q q 0 0 0 rg BT 144.30 480.00 Td (this ) Tj ET Q q 0 0 0 rg BT 162.54 480.00 Td (productivity ) Tj ET Q q 0 0 0 rg BT 218.66 480.00 Td (plan, ) Tj ET Q q 0 0 0 rg BT 242.70 480.00 Td (the ) Tj ET Q q 0 0 0 rg BT 258.49 480.00 Td (company ) Tj ET Q q 0 0 0 rg BT 301.16 480.00 Td (has ) Tj ET Q q 0 0 0 rg BT 318.17 480.00 Td (announced ) Tj ET Q q 0 0 0 rg BT 368.17 480.00 Td (a ) Tj ET Q q 0 0 0 rg BT 375.40 480.00 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 433.95 480.00 Td (that ) Tj ET Q q 0 0 0 rg BT 452.80 480.00 Td (reduces ) Tj ET Q q 0 0 0 rg BT 488.74 480.00 Td (the ) Tj ET Q q 0 0 0 rg BT 504.53 480.00 Td (complexity ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 466.80 Td (of ) Tj ET Q q 0 0 0 rg BT 69.41 466.80 Td (the ) Tj ET Q q 0 0 0 rg BT 85.09 466.80 Td (upper ) Tj ET Q q 0 0 0 rg BT 112.38 466.80 Td (management ) Tj ET Q q 0 0 0 rg BT 170.82 466.80 Td (structure ) Tj ET Q q 0 0 0 rg BT 211.55 466.80 Td (to ) Tj ET Q q 0 0 0 rg BT 222.35 466.80 Td (increase ) Tj ET Q q 0 0 0 rg BT 260.62 466.80 Td (the ) Tj ET Q q 0 0 0 rg BT 276.30 466.80 Td (speed ) Tj ET Q q 0 0 0 rg BT 303.59 466.80 Td (of ) Tj ET Q q 0 0 0 rg BT 315.00 466.80 Td (decision ) Tj ET Q q 0 0 0 rg BT 353.90 466.80 Td (making, ) Tj ET Q q 0 0 0 rg BT 391.89 466.80 Td (reduce ) Tj ET Q q 0 0 0 rg BT 423.44 466.80 Td (costs ) Tj ET Q q 0 0 0 rg BT 447.68 466.80 Td (and ) Tj ET Q q 0 0 0 rg BT 465.81 466.80 Td (respond ) Tj ET Q q 0 0 0 rg BT 502.88 466.80 Td (to ) Tj ET Q q 0 0 0 rg BT 513.68 466.80 Td (changing ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 453.60 Td (customer ) Tj ET Q q 0 0 0 rg BT 100.13 453.60 Td (expectations.Importantly) Tj ET Q q 0 0 0 rg BT 211.83 453.60 Td (, ) Tj ET Q q 0 0 0 rg BT 216.40 453.60 Td (it ) Tj ET Q q 0 0 0 rg BT 224.32 453.60 Td (also ) Tj ET Q q 0 0 0 rg BT 243.86 453.60 Td (allows ) Tj ET Q q 0 0 0 rg BT 274.39 453.60 Td (the ) Tj ET Q q 0 0 0 rg BT 289.64 453.60 Td (company ) Tj ET Q q 0 0 0 rg BT 331.78 453.60 Td (to ) Tj ET Q q 0 0 0 rg BT 342.15 453.60 Td (put ) Tj ET Q q 0 0 0 rg BT 358.02 453.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 403.82 453.60 Td (resources ) Tj ET Q q 0 0 0 rg BT 447.17 453.60 Td (behind ) Tj ET Q q 0 0 0 rg BT 478.92 453.60 Td (three ) Tj ET Q q 0 0 0 rg BT 502.72 453.60 Td (focus ) Tj ET Q q 0 0 0 rg BT 528.36 453.60 Td (areas:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 440.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 440.40 Td (Improving ) Tj ET Q q 0 0 0 rg BT 143.19 440.40 Td (supply ) Tj ET Q q 0 0 0 rg BT 175.28 440.40 Td (chain ) Tj ET Q q 0 0 0 rg BT 201.85 440.40 Td (ef) Tj ET Q q 0 0 0 rg BT 210.19 440.40 Td (ficiency; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 427.20 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 427.20 Td (Innovating ) Tj ET Q q 0 0 0 rg BT 144.41 427.20 Td (and ) Tj ET Q q 0 0 0 rg BT 163.04 427.20 Td (enhancing ) Tj ET Q q 0 0 0 rg BT 210.99 427.20 Td (inventory ) Tj ET Q q 0 0 0 rg BT 255.90 427.20 Td (management; ) Tj ET Q q 0 0 0 rg BT 317.90 427.20 Td (and) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 414.00 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 414.00 Td (Building ) Tj ET Q q 0 0 0 rg BT 135.26 414.00 Td (a ) Tj ET Q q 0 0 0 rg BT 142.89 414.00 Td (lar) Tj ET Q q 0 0 0 rg BT 154.29 414.00 Td (ger ) Tj ET Q q 0 0 0 rg BT 171.09 414.00 Td (and ) Tj ET Q q 0 0 0 rg BT 189.72 414.00 Td (healthier ) Tj ET Q q 0 0 0 rg BT 230.95 414.00 Td (customer ) Tj ET Q q 0 0 0 rg BT 274.02 414.00 Td (base.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 381.65 Td (In ) Tj ET Q q 0 0 0 rg BT 70.35 381.65 Td (addition ) Tj ET Q q 0 0 0 rg BT 109.58 381.65 Td (to ) Tj ET Q q 0 0 0 rg BT 121.32 381.65 Td (the ) Tj ET Q q 0 0 0 rg BT 137.94 381.65 Td (expected ) Tj ET Q q 0 0 0 rg BT 180.21 381.65 Td (2019 ) Tj ET Q q 0 0 0 rg BT 205.40 381.65 Td (savings, ) Tj ET Q q 0 0 0 rg BT 244.33 381.65 Td (the ) Tj ET Q q 0 0 0 rg BT 260.95 381.65 Td (company ) Tj ET Q q 0 0 0 rg BT 304.46 381.65 Td (anticipates ) Tj ET Q q 0 0 0 rg BT 354.67 381.65 Td (that ) Tj ET Q q 0 0 0 rg BT 374.35 381.65 Td (these ) Tj ET Q q 0 0 0 rg BT 400.14 381.65 Td (activities ) Tj ET Q q 0 0 0 rg BT 443.03 381.65 Td (will ) Tj ET Q q 0 0 0 rg BT 463.33 381.65 Td (fuel ) Tj ET Q q 0 0 0 rg BT 483.61 381.65 Td (the ) Tj ET Q q 0 0 0 rg BT 500.23 381.65 Td (productivity ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 368.45 Td (plan ) Tj ET Q q 0 0 0 rg BT 79.69 368.45 Td (over ) Tj ET Q q 0 0 0 rg BT 101.98 368.45 Td (the ) Tj ET Q q 0 0 0 rg BT 118.17 368.45 Td (next ) Tj ET Q q 0 0 0 rg BT 139.86 368.45 Td (3-5 ) Tj ET Q q 0 0 0 rg BT 157.27 368.45 Td (years ) Tj ET Q q 0 0 0 rg BT 183.23 368.45 Td (and ) Tj ET Q q 0 0 0 rg BT 201.86 368.45 Td (contribute ) Tj ET Q q 0 0 0 rg BT 249.21 368.45 Td (significantly ) Tj ET Q q 0 0 0 rg BT 306.95 368.45 Td (to ) Tj ET Q q 0 0 0 rg BT 318.26 368.45 Td (profitable ) Tj ET Q q 0 0 0 rg BT 363.77 368.45 Td (growth. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 342.05 Td (The ) Tj ET Q q 0 0 0 rg BT 78.36 342.05 Td (areas ) Tj ET Q q 0 0 0 rg BT 104.21 342.05 Td (for ) Tj ET Q q 0 0 0 rg BT 120.29 342.05 Td (cost ) Tj ET Q q 0 0 0 rg BT 141.27 342.05 Td (reduction ) Tj ET Q q 0 0 0 rg BT 186.07 342.05 Td (in ) Tj ET Q q 0 0 0 rg BT 197.88 342.05 Td (2019 ) Tj ET Q q 0 0 0 rg BT 223.14 342.05 Td (have ) Tj ET Q q 0 0 0 rg BT 247.16 342.05 Td (been ) Tj ET Q q 0 0 0 rg BT 271.18 342.05 Td (identified ) Tj ET Q q 0 0 0 rg BT 316.59 342.05 Td (and ) Tj ET Q q 0 0 0 rg BT 335.73 342.05 Td (are ) Tj ET Q q 0 0 0 rg BT 352.42 342.05 Td (reflected ) Tj ET Q q 0 0 0 rg BT 394.15 342.05 Td (in ) Tj ET Q q 0 0 0 rg BT 405.96 342.05 Td (guidance. ) Tj ET Q q 0 0 0 rg BT 451.67 342.05 Td (Beginning ) Tj ET Q q 0 0 0 rg BT 500.76 342.05 Td (in ) Tj ET Q q 0 0 0 rg BT 512.57 342.05 Td (2019, ) Tj ET Q q 0 0 0 rg BT 540.58 342.05 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 328.85 Td (company ) Tj ET Q q 0 0 0 rg BT 101.22 328.85 Td (expects ) Tj ET Q q 0 0 0 rg BT 137.10 328.85 Td (the ) Tj ET Q q 0 0 0 rg BT 153.44 328.85 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 212.54 328.85 Td (actions ) Tj ET Q q 0 0 0 rg BT 246.59 328.85 Td (announced ) Tj ET Q q 0 0 0 rg BT 297.14 328.85 Td (today ) Tj ET Q q 0 0 0 rg BT 324.48 328.85 Td (to ) Tj ET Q q 0 0 0 rg BT 335.93 328.85 Td (generate ) Tj ET Q q 0 0 0 rg BT 376.08 328.85 Td (annual ) Tj ET Q q 0 0 0 rg BT 408.29 328.85 Td (expense ) Tj ET Q q 0 0 0 rg BT 446.62 328.85 Td (savings ) Tj ET Q q 0 0 0 rg BT 482.52 328.85 Td (of ) Tj ET Q q 0 0 0 rg BT 494.58 328.85 Td ($100 ) Tj ET Q q 0 0 0 rg BT 519.48 328.85 Td (million. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 315.65 Td (For ) Tj ET Q q 0 0 0 rg BT 76.59 315.65 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 103.71 315.65 Td (2018, ) Tj ET Q q 0 0 0 rg BT 131.77 315.65 Td (the ) Tj ET Q q 0 0 0 rg BT 148.51 315.65 Td (company ) Tj ET Q q 0 0 0 rg BT 192.14 315.65 Td (recorded ) Tj ET Q q 0 0 0 rg BT 233.92 315.65 Td (one-time ) Tj ET Q q 0 0 0 rg BT 276.32 315.65 Td (char) Tj ET Q q 0 0 0 rg BT 295.05 315.65 Td (ges ) Tj ET Q q 0 0 0 rg BT 313.02 315.65 Td (of ) Tj ET Q q 0 0 0 rg BT 325.49 315.65 Td (approximately ) Tj ET Q q 0 0 0 rg BT 392.33 315.65 Td ($80 ) Tj ET Q q 0 0 0 rg BT 412.14 315.65 Td (million ) Tj ET Q q 0 0 0 rg BT 447.22 315.65 Td (pre-tax ) Tj ET Q q 0 0 0 rg BT 481.68 315.65 Td (for ) Tj ET Q q 0 0 0 rg BT 497.81 315.65 Td (restructuring ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 302.45 Td (activities.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 58.00 276.05 Td (2019 ) Tj ET Q q 0 0 0 rg BT 82.75 276.05 Td (Guidance) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 249.65 Td (Macy's, ) Tj ET Q q 0 0 0 rg BT 94.81 249.65 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 114.35 249.65 Td (is ) Tj ET Q q 0 0 0 rg BT 124.44 249.65 Td (providing ) Tj ET Q q 0 0 0 rg BT 169.97 249.65 Td (the ) Tj ET Q q 0 0 0 rg BT 186.15 249.65 Td (following ) Tj ET Q q 0 0 0 rg BT 231.68 249.65 Td (annual ) Tj ET Q q 0 0 0 rg BT 263.75 249.65 Td (guidance ) Tj ET Q q 0 0 0 rg BT 306.20 249.65 Td (for ) Tj ET Q q 0 0 0 rg BT 321.78 249.65 Td (2019. ) Tj ET Q 0.6745098039215687 0.6745098039215687 0.6745098039215687 rg /GS0 gs 293.50 239.15 173.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 239.14999999999998 m 144.5 225.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 239.14999999999998 m 293.5 225.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 239.14999999999998 m 293.5 239.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 225.14999999999998 m 293.5 225.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 239.14999999999998 m 293.5 225.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 239.14999999999998 m 466.5 225.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 239.14999999999998 m 466.5 239.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 225.14999999999998 m 144.5 200.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 225.14999999999998 m 293.5 200.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 200.14999999999998 m 293.5 200.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 225.14999999999998 m 293.5 200.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 225.14999999999998 m 466.5 200.14999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 225.14999999999998 m 466.5 225.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 200.14999999999998 m 466.5 200.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 200.14999999999998 m 144.5 171.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 200.14999999999998 m 293.5 171.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 200.14999999999998 m 293.5 200.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 171.14999999999998 m 293.5 171.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 200.14999999999998 m 293.5 171.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 200.14999999999998 m 466.5 171.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 200.14999999999998 m 466.5 200.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 171.14999999999998 m 466.5 171.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 171.14999999999998 m 144.5 154.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 171.14999999999998 m 293.5 154.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 171.14999999999998 m 293.5 171.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 154.14999999999998 m 293.5 154.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 171.14999999999998 m 293.5 154.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 171.14999999999998 m 466.5 154.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 171.14999999999998 m 466.5 171.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 154.14999999999998 m 466.5 154.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 154.14999999999998 m 144.5 116.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 154.14999999999998 m 293.5 154.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 116.14999999999998 m 293.5 116.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 154.14999999999998 m 293.5 116.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 154.14999999999998 m 466.5 116.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 154.14999999999998 m 466.5 154.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 116.14999999999998 m 466.5 116.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 116.14999999999998 m 144.5 92.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 116.14999999999998 m 293.5 116.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 92.14999999999998 m 293.5 92.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 116.14999999999998 m 293.5 92.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 116.14999999999998 m 466.5 92.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 116.14999999999998 m 466.5 116.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 92.14999999999998 m 466.5 92.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 92.14999999999998 m 144.5 74.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 92.14999999999998 m 293.5 92.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 74.14999999999998 m 293.5 74.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 92.14999999999998 m 293.5 74.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 92.14999999999998 m 466.5 74.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 92.14999999999998 m 466.5 92.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 74.14999999999998 m 466.5 74.14999999999998 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 326.00 229.20 Td (2019 ) Tj ET Q q 0 0 0 rg BT 350.14 229.20 Td (Annual Guidance) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 147.00 215.02 Td (Comparable sales ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 147.00 204.02 Td (\(owned plus licensed\)) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 403.40 205.07 Td (Flat to up 1%) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 147.00 187.07 Td (Comparable sales ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 147.00 176.07 Td (\(owned\)) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 403.40 176.07 Td (Flat to up 1%) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 147.00 159.07 Td (Net sales) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 378.95 159.07 Td (Approximately flat) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 147.00 143.07 Td (Diluted EPS excluding) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 147.00 132.07 Td (settlement char) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 213.79 132.07 Td (ges, impairment) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 147.00 121.07 Td (and other costs) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 399.40 121.07 Td ($3.05 to $3.25) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 147.00 97.07 Td (Asset sale gains) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 321.50 106.02 Td (Approximately $100 million \(or) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 391.80 95.07 Td ($0.25 per share\)) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 147.00 79.07 Td (Annual tax rate) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 442.80 79.07 Td (23%) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.00 772.60 Td (4) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 58.00 741.60 Td (About ) Tj ET Q q 0 0 0 rg BT 90.09 741.60 Td (Macy's, ) Tj ET Q q 0 0 0 rg BT 129.19 741.60 Td (Inc.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 715.20 Td (Macy) Tj ET Q q 0 0 0 rg BT 86.10 715.20 Td (s, ) Tj ET Q q 0 0 0 rg BT 96.15 715.20 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 115.96 715.20 Td (is ) Tj ET Q q 0 0 0 rg BT 126.31 715.20 Td (one ) Tj ET Q q 0 0 0 rg BT 145.21 715.20 Td (of ) Tj ET Q q 0 0 0 rg BT 157.38 715.20 Td (the ) Tj ET Q q 0 0 0 rg BT 173.84 715.20 Td (nation) Tj ET Q q 0 0 0 rg BT 204.39 715.20 Td (s ) Tj ET Q q 0 0 0 rg BT 211.68 715.20 Td (premier ) Tj ET Q q 0 0 0 rg BT 248.90 715.20 Td (retailers, ) Tj ET Q q 0 0 0 rg BT 290.09 715.20 Td (with ) Tj ET Q q 0 0 0 rg BT 312.66 715.20 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 339.49 715.20 Td (2018 ) Tj ET Q q 0 0 0 rg BT 364.51 715.20 Td (sales ) Tj ET Q q 0 0 0 rg BT 388.91 715.20 Td (of ) Tj ET Q q 0 0 0 rg BT 401.08 715.20 Td ($24.971 ) Tj ET Q q 0 0 0 rg BT 439.85 715.20 Td (billion ) Tj ET Q q 0 0 0 rg BT 471.59 715.20 Td (and ) Tj ET Q q 0 0 0 rg BT 490.48 715.20 Td (approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 702.00 Td (130,000 ) Tj ET Q q 0 0 0 rg BT 95.96 702.00 Td (employees, ) Tj ET Q q 0 0 0 rg BT 147.95 702.00 Td (the ) Tj ET Q q 0 0 0 rg BT 163.59 702.00 Td (company ) Tj ET Q q 0 0 0 rg BT 206.12 702.00 Td (operates ) Tj ET Q q 0 0 0 rg BT 244.97 702.00 Td (approximately ) Tj ET Q q 0 0 0 rg BT 310.71 702.00 Td (680 ) Tj ET Q q 0 0 0 rg BT 329.42 702.00 Td (department ) Tj ET Q q 0 0 0 rg BT 381.10 702.00 Td (stores ) Tj ET Q q 0 0 0 rg BT 408.97 702.00 Td (under ) Tj ET Q q 0 0 0 rg BT 436.22 702.00 Td (the ) Tj ET Q q 0 0 0 rg BT 451.86 702.00 Td (nameplates ) Tj ET Q q 0 0 0 rg BT 503.55 702.00 Td (Macy) Tj ET Q q 0 0 0 rg BT 531.65 702.00 Td (s ) Tj ET Q q 0 0 0 rg BT 538.13 702.00 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 688.80 Td (Bloomingdale) Tj ET Q q 0 0 0 rg BT 123.38 688.80 Td (s, ) Tj ET Q q 0 0 0 rg BT 133.87 688.80 Td (and ) Tj ET Q q 0 0 0 rg BT 153.21 688.80 Td (nearly ) Tj ET Q q 0 0 0 rg BT 184.15 688.80 Td (190 ) Tj ET Q q 0 0 0 rg BT 204.11 688.80 Td (specialty ) Tj ET Q q 0 0 0 rg BT 246.66 688.80 Td (stores ) Tj ET Q q 0 0 0 rg BT 275.78 688.80 Td (that ) Tj ET Q q 0 0 0 rg BT 295.74 688.80 Td (include ) Tj ET Q q 0 0 0 rg BT 331.57 688.80 Td (Bloomingdale) Tj ET Q q 0 0 0 rg BT 396.95 688.80 Td (s ) Tj ET Q q 0 0 0 rg BT 404.44 688.80 Td (The ) Tj ET Q q 0 0 0 rg BT 425.00 688.80 Td (Outlet, ) Tj ET Q q 0 0 0 rg BT 458.70 688.80 Td (Bluemercury) Tj ET Q q 0 0 0 rg BT 515.41 688.80 Td (, ) Tj ET Q q 0 0 0 rg BT 521.62 688.80 Td (Macy) Tj ET Q q 0 0 0 rg BT 549.72 688.80 Td (s ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 675.60 Td (Backstage ) Tj ET Q q 0 0 0 rg BT 105.59 675.60 Td (and ) Tj ET Q q 0 0 0 rg BT 123.86 675.60 Td (ST) Tj ET Q q 0 0 0 rg BT 136.50 675.60 Td (OR) Tj ET Q q 0 0 0 rg BT 151.17 675.60 Td (Y) Tj ET Q q 0 0 0 rg BT 157.70 675.60 Td (. ) Tj ET Q q 0 0 0 rg BT 162.84 675.60 Td (Macy) Tj ET Q q 0 0 0 rg BT 190.94 675.60 Td (s, ) Tj ET Q q 0 0 0 rg BT 200.36 675.60 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 219.54 675.60 Td (operates ) Tj ET Q q 0 0 0 rg BT 258.58 675.60 Td (stores ) Tj ET Q q 0 0 0 rg BT 286.63 675.60 Td (in ) Tj ET Q q 0 0 0 rg BT 297.58 675.60 Td (43 ) Tj ET Q q 0 0 0 rg BT 310.97 675.60 Td (states, ) Tj ET Q q 0 0 0 rg BT 340.54 675.60 Td (the ) Tj ET Q q 0 0 0 rg BT 356.37 675.60 Td (District ) Tj ET Q q 0 0 0 rg BT 391.75 675.60 Td (of ) Tj ET Q q 0 0 0 rg BT 403.30 675.60 Td (Columbia, ) Tj ET Q q 0 0 0 rg BT 451.83 675.60 Td (Guam ) Tj ET Q q 0 0 0 rg BT 481.10 675.60 Td (and ) Tj ET Q q 0 0 0 rg BT 499.37 675.60 Td (Puerto ) Tj ET Q q 0 0 0 rg BT 530.48 675.60 Td (Rico, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 662.40 Td (as ) Tj ET Q q 0 0 0 rg BT 69.63 662.40 Td (well ) Tj ET Q q 0 0 0 rg BT 91.04 662.40 Td (as ) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 102.66943359375 660.93369140625 m 152.45947265625 660.93369140625 l s q 0 0 1 rg BT 102.67 662.40 Td (macys.com) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 152.46 662.40 Td (, ) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 157.677734375 660.93369140625 m 244.13623046875 660.93369140625 l s q 0 0 1 rg BT 157.68 662.40 Td (bloomingdales.com) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 244.14 662.40 Td ( ) Tj ET Q q 0 0 0 rg BT 246.60 662.40 Td (and ) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 264.955078125 660.93369140625 m 341.5146484375 660.93369140625 l s q 0 0 1 rg BT 264.96 662.40 Td (bluemercury) Tj ET Q q 0 0 1 rg BT 319.83 662.40 Td (.com) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 341.51 662.40 Td (. ) Tj ET Q q 0 0 0 rg BT 346.73 662.40 Td (Bloomingdale) Tj ET Q q 0 0 0 rg BT 412.12 662.40 Td (s ) Tj ET Q q 0 0 0 rg BT 418.86 662.40 Td (stores ) Tj ET Q q 0 0 0 rg BT 447.00 662.40 Td (in ) Tj ET Q q 0 0 0 rg BT 458.02 662.40 Td (Dubai ) Tj ET Q q 0 0 0 rg BT 487.37 662.40 Td (and ) Tj ET Q q 0 0 0 rg BT 505.72 662.40 Td (Kuwait ) Tj ET Q q 0 0 0 rg BT 540.57 662.40 Td (are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 649.20 Td (operated ) Tj ET Q q 0 0 0 rg BT 98.05 649.20 Td (by ) Tj ET Q q 0 0 0 rg BT 110.74 649.20 Td (Al ) Tj ET Q q 0 0 0 rg BT 123.77 649.20 Td (T) Tj ET Q q 0 0 0 rg BT 129.72 649.20 Td (ayer ) Tj ET Q q 0 0 0 rg BT 150.82 649.20 Td (Group ) Tj ET Q q 0 0 0 rg BT 181.11 649.20 Td (LLC ) Tj ET Q q 0 0 0 rg BT 204.06 649.20 Td (under ) Tj ET Q q 0 0 0 rg BT 231.29 649.20 Td (license ) Tj ET Q q 0 0 0 rg BT 264.01 649.20 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 319.02 649.20 Td (Macy) Tj ET Q q 0 0 0 rg BT 347.12 649.20 Td (s, ) Tj ET Q q 0 0 0 rg BT 356.33 649.20 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 375.31 649.20 Td (has ) Tj ET Q q 0 0 0 rg BT 392.15 649.20 Td (corporate ) Tj ET Q q 0 0 0 rg BT 435.86 649.20 Td (of) Tj ET Q q 0 0 0 rg BT 444.82 649.20 Td (fices ) Tj ET Q q 0 0 0 rg BT 467.77 649.20 Td (in ) Tj ET Q q 0 0 0 rg BT 478.50 649.20 Td (Cincinnati, ) Tj ET Q q 0 0 0 rg BT 529.26 649.20 Td (Ohio, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 636.00 Td (and ) Tj ET Q q 0 0 0 rg BT 76.63 636.00 Td (New ) Tj ET Q q 0 0 0 rg BT 99.74 636.00 Td (Y) Tj ET Q q 0 0 0 rg BT 106.59 636.00 Td (ork, ) Tj ET Q q 0 0 0 rg BT 126.75 636.00 Td (New ) Tj ET Q q 0 0 0 rg BT 149.86 636.00 Td (Y) Tj ET Q q 0 0 0 rg BT 156.70 636.00 Td (ork.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 610.80 Td (All ) Tj ET Q q 0 0 0 rg BT 74.61 610.80 Td (statements ) Tj ET Q q 0 0 0 rg BT 123.60 610.80 Td (in ) Tj ET Q q 0 0 0 rg BT 134.71 610.80 Td (this ) Tj ET Q q 0 0 0 rg BT 153.16 610.80 Td (press ) Tj ET Q q 0 0 0 rg BT 178.32 610.80 Td (release ) Tj ET Q q 0 0 0 rg BT 211.41 610.80 Td (that ) Tj ET Q q 0 0 0 rg BT 230.46 610.80 Td (are ) Tj ET Q q 0 0 0 rg BT 246.44 610.80 Td (not ) Tj ET Q q 0 0 0 rg BT 263.05 610.80 Td (statements ) Tj ET Q q 0 0 0 rg BT 312.04 610.80 Td (of ) Tj ET Q q 0 0 0 rg BT 323.76 610.80 Td (historical ) Tj ET Q q 0 0 0 rg BT 367.24 610.80 Td (fact ) Tj ET Q q 0 0 0 rg BT 386.28 610.80 Td (are ) Tj ET Q q 0 0 0 rg BT 402.27 610.80 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 476.91 610.80 Td (statements ) Tj ET Q q 0 0 0 rg BT 525.90 610.80 Td (within ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 597.60 Td (the ) Tj ET Q q 0 0 0 rg BT 74.26 597.60 Td (meaning ) Tj ET Q q 0 0 0 rg BT 114.95 597.60 Td (of ) Tj ET Q q 0 0 0 rg BT 126.93 597.60 Td (the ) Tj ET Q q 0 0 0 rg BT 143.19 597.60 Td (Private ) Tj ET Q q 0 0 0 rg BT 177.17 597.60 Td (Securities ) Tj ET Q q 0 0 0 rg BT 223.36 597.60 Td (Litigation ) Tj ET Q q 0 0 0 rg BT 269.56 597.60 Td (Reform ) Tj ET Q q 0 0 0 rg BT 305.36 597.60 Td (Act ) Tj ET Q q 0 0 0 rg BT 324.06 597.60 Td (of ) Tj ET Q q 0 0 0 rg BT 336.04 597.60 Td (1995. ) Tj ET Q q 0 0 0 rg BT 363.61 597.60 Td (Such ) Tj ET Q q 0 0 0 rg BT 388.43 597.60 Td (statements ) Tj ET Q q 0 0 0 rg BT 437.68 597.60 Td (are ) Tj ET Q q 0 0 0 rg BT 453.93 597.60 Td (based ) Tj ET Q q 0 0 0 rg BT 481.79 597.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 506.61 597.60 Td (the ) Tj ET Q q 0 0 0 rg BT 522.87 597.60 Td (current ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 584.40 Td (beliefs ) Tj ET Q q 0 0 0 rg BT 89.28 584.40 Td (and ) Tj ET Q q 0 0 0 rg BT 107.12 584.40 Td (expectations ) Tj ET Q q 0 0 0 rg BT 164.06 584.40 Td (of ) Tj ET Q q 0 0 0 rg BT 175.19 584.40 Td (Macy) Tj ET Q q 0 0 0 rg BT 203.29 584.40 Td (s ) Tj ET Q q 0 0 0 rg BT 209.53 584.40 Td (management ) Tj ET Q q 0 0 0 rg BT 267.69 584.40 Td (and ) Tj ET Q q 0 0 0 rg BT 285.53 584.40 Td (are ) Tj ET Q q 0 0 0 rg BT 300.92 584.40 Td (subject ) Tj ET Q q 0 0 0 rg BT 334.04 584.40 Td (to ) Tj ET Q q 0 0 0 rg BT 344.55 584.40 Td (significant ) Tj ET Q q 0 0 0 rg BT 392.95 584.40 Td (risks ) Tj ET Q q 0 0 0 rg BT 415.69 584.40 Td (and ) Tj ET Q q 0 0 0 rg BT 433.53 584.40 Td (uncertainties. ) Tj ET Q q 0 0 0 rg BT 494.01 584.40 Td (Actual ) Tj ET Q q 0 0 0 rg BT 525.29 584.40 Td (results ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 571.20 Td (could ) Tj ET Q q 0 0 0 rg BT 85.99 571.20 Td (dif) Tj ET Q q 0 0 0 rg BT 98.01 571.20 Td (fer ) Tj ET Q q 0 0 0 rg BT 113.77 571.20 Td (materially ) Tj ET Q q 0 0 0 rg BT 161.91 571.20 Td (from ) Tj ET Q q 0 0 0 rg BT 186.85 571.20 Td (those ) Tj ET Q q 0 0 0 rg BT 213.62 571.20 Td (expressed ) Tj ET Q q 0 0 0 rg BT 260.54 571.20 Td (in ) Tj ET Q q 0 0 0 rg BT 272.65 571.20 Td (or ) Tj ET Q q 0 0 0 rg BT 285.36 571.20 Td (implied ) Tj ET Q q 0 0 0 rg BT 322.52 571.20 Td (by ) Tj ET Q q 0 0 0 rg BT 337.08 571.20 Td (the ) Tj ET Q q 0 0 0 rg BT 354.07 571.20 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 429.71 571.20 Td (statements ) Tj ET Q q 0 0 0 rg BT 479.69 571.20 Td (contained ) Tj ET Q q 0 0 0 rg BT 526.00 571.20 Td (in ) Tj ET Q q 0 0 0 rg BT 538.11 571.20 Td (this ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 558.00 Td (release ) Tj ET Q q 0 0 0 rg BT 91.67 558.00 Td (because ) Tj ET Q q 0 0 0 rg BT 129.62 558.00 Td (of ) Tj ET Q q 0 0 0 rg BT 141.92 558.00 Td (a ) Tj ET Q q 0 0 0 rg BT 149.94 558.00 Td (variety ) Tj ET Q q 0 0 0 rg BT 183.62 558.00 Td (of ) Tj ET Q q 0 0 0 rg BT 195.92 558.00 Td (factors, ) Tj ET Q q 0 0 0 rg BT 231.73 558.00 Td (including ) Tj ET Q q 0 0 0 rg BT 276.42 558.00 Td (conditions ) Tj ET Q q 0 0 0 rg BT 325.39 558.00 Td (to, ) Tj ET Q q 0 0 0 rg BT 339.84 558.00 Td (or ) Tj ET Q q 0 0 0 rg BT 352.14 558.00 Td (changes ) Tj ET Q q 0 0 0 rg BT 390.70 558.00 Td (in ) Tj ET Q q 0 0 0 rg BT 402.40 558.00 Td (the ) Tj ET Q q 0 0 0 rg BT 418.97 558.00 Td (timing ) Tj ET Q q 0 0 0 rg BT 450.84 558.00 Td (of, ) Tj ET Q q 0 0 0 rg BT 465.89 558.00 Td (proposed ) Tj ET Q q 0 0 0 rg BT 509.35 558.00 Td (real ) Tj ET Q q 0 0 0 rg BT 528.97 558.00 Td (estate ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 544.80 Td (and ) Tj ET Q q 0 0 0 rg BT 76.98 544.80 Td (other ) Tj ET Q q 0 0 0 rg BT 102.69 544.80 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 161.08 544.80 Td (prevailing ) Tj ET Q q 0 0 0 rg BT 208.78 544.80 Td (interest ) Tj ET Q q 0 0 0 rg BT 244.26 544.80 Td (rates ) Tj ET Q q 0 0 0 rg BT 268.12 544.80 Td (and ) Tj ET Q q 0 0 0 rg BT 287.11 544.80 Td (non-recurring ) Tj ET Q q 0 0 0 rg BT 350.68 544.80 Td (char) Tj ET Q q 0 0 0 rg BT 369.41 544.80 Td (ges, ) Tj ET Q q 0 0 0 rg BT 389.93 544.80 Td (the ) Tj ET Q q 0 0 0 rg BT 406.47 544.80 Td (ef) Tj ET Q q 0 0 0 rg BT 414.81 544.80 Td (fect ) Tj ET Q q 0 0 0 rg BT 434.40 544.80 Td (of ) Tj ET Q q 0 0 0 rg BT 446.67 544.80 Td (federal ) Tj ET Q q 0 0 0 rg BT 480.30 544.80 Td (tax ) Tj ET Q q 0 0 0 rg BT 496.84 544.80 Td (reform, ) Tj ET Q q 0 0 0 rg BT 532.62 544.80 Td (store ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 531.60 Td (closings, ) Tj ET Q q 0 0 0 rg BT 100.08 531.60 Td (competitive ) Tj ET Q q 0 0 0 rg BT 155.27 531.60 Td (pressures ) Tj ET Q q 0 0 0 rg BT 199.48 531.60 Td (from ) Tj ET Q q 0 0 0 rg BT 224.13 531.60 Td (specialty ) Tj ET Q q 0 0 0 rg BT 266.49 531.60 Td (stores, ) Tj ET Q q 0 0 0 rg BT 298.18 531.60 Td (general ) Tj ET Q q 0 0 0 rg BT 333.81 531.60 Td (merchandise ) Tj ET Q q 0 0 0 rg BT 392.67 531.60 Td (stores, ) Tj ET Q q 0 0 0 rg BT 424.35 531.60 Td (of) Tj ET Q q 0 0 0 rg BT 433.31 531.60 Td (f-price ) Tj ET Q q 0 0 0 rg BT 465.89 531.60 Td (and ) Tj ET Q q 0 0 0 rg BT 485.04 531.60 Td (discount ) Tj ET Q q 0 0 0 rg BT 525.59 531.60 Td (stores, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 518.40 Td (manufacturers) Tj ET Q q 0 0 0 rg BT 123.76 518.40 Td ( ) Tj ET Q q 0 0 0 rg BT 126.72 518.40 Td (outlets, ) Tj ET Q q 0 0 0 rg BT 161.77 518.40 Td (the ) Tj ET Q q 0 0 0 rg BT 178.18 518.40 Td (Internet, ) Tj ET Q q 0 0 0 rg BT 218.10 518.40 Td (mail-order ) Tj ET Q q 0 0 0 rg BT 267.49 518.40 Td (catalogs ) Tj ET Q q 0 0 0 rg BT 306.49 518.40 Td (and ) Tj ET Q q 0 0 0 rg BT 325.34 518.40 Td (television ) Tj ET Q q 0 0 0 rg BT 371.08 518.40 Td (shopping ) Tj ET Q q 0 0 0 rg BT 414.38 518.40 Td (and ) Tj ET Q q 0 0 0 rg BT 433.23 518.40 Td (general ) Tj ET Q q 0 0 0 rg BT 468.56 518.40 Td (consumer ) Tj ET Q q 0 0 0 rg BT 514.29 518.40 Td (spending ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 505.20 Td (levels, ) Tj ET Q q 0 0 0 rg BT 89.13 505.20 Td (including ) Tj ET Q q 0 0 0 rg BT 133.41 505.20 Td (the ) Tj ET Q q 0 0 0 rg BT 149.58 505.20 Td (impact ) Tj ET Q q 0 0 0 rg BT 182.23 505.20 Td (of ) Tj ET Q q 0 0 0 rg BT 194.12 505.20 Td (the ) Tj ET Q q 0 0 0 rg BT 210.29 505.20 Td (availability ) Tj ET Q q 0 0 0 rg BT 262.50 505.20 Td (and ) Tj ET Q q 0 0 0 rg BT 281.11 505.20 Td (level ) Tj ET Q q 0 0 0 rg BT 305.21 505.20 Td (of ) Tj ET Q q 0 0 0 rg BT 317.10 505.20 Td (consumer ) Tj ET Q q 0 0 0 rg BT 362.59 505.20 Td (debt, ) Tj ET Q q 0 0 0 rg BT 387.00 505.20 Td (the ) Tj ET Q q 0 0 0 rg BT 403.17 505.20 Td (ef) Tj ET Q q 0 0 0 rg BT 411.52 505.20 Td (fect ) Tj ET Q q 0 0 0 rg BT 430.73 505.20 Td (of ) Tj ET Q q 0 0 0 rg BT 442.61 505.20 Td (weather ) Tj ET Q q 0 0 0 rg BT 480.15 505.20 Td (and ) Tj ET Q q 0 0 0 rg BT 498.76 505.20 Td (other ) Tj ET Q q 0 0 0 rg BT 524.09 505.20 Td (factors ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 492.00 Td (identified ) Tj ET Q q 0 0 0 rg BT 103.35 492.00 Td (in ) Tj ET Q q 0 0 0 rg BT 115.11 492.00 Td (documents ) Tj ET Q q 0 0 0 rg BT 165.97 492.00 Td (filed ) Tj ET Q q 0 0 0 rg BT 189.32 492.00 Td (by ) Tj ET Q q 0 0 0 rg BT 203.52 492.00 Td (the ) Tj ET Q q 0 0 0 rg BT 220.16 492.00 Td (company ) Tj ET Q q 0 0 0 rg BT 263.68 492.00 Td (with ) Tj ET Q q 0 0 0 rg BT 286.44 492.00 Td (the ) Tj ET Q q 0 0 0 rg BT 303.08 492.00 Td (Securities ) Tj ET Q q 0 0 0 rg BT 349.65 492.00 Td (and ) Tj ET Q q 0 0 0 rg BT 368.73 492.00 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 415.30 492.00 Td (Commission. ) Tj ET Q q 0 0 0 rg BT 476.87 492.00 Td (Macy) Tj ET Q q 0 0 0 rg BT 504.97 492.00 Td (s ) Tj ET Q q 0 0 0 rg BT 512.45 492.00 Td (disclaims ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 478.80 Td (any ) Tj ET Q q 0 0 0 rg BT 78.59 478.80 Td (intention ) Tj ET Q q 0 0 0 rg BT 122.41 478.80 Td (or ) Tj ET Q q 0 0 0 rg BT 136.29 478.80 Td (obligation ) Tj ET Q q 0 0 0 rg BT 185.60 478.80 Td (to ) Tj ET Q q 0 0 0 rg BT 198.87 478.80 Td (update ) Tj ET Q q 0 0 0 rg BT 232.90 478.80 Td (or ) Tj ET Q q 0 0 0 rg BT 246.78 478.80 Td (revise ) Tj ET Q q 0 0 0 rg BT 277.76 478.80 Td (any ) Tj ET Q q 0 0 0 rg BT 298.35 478.80 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 375.15 478.80 Td (statements, ) Tj ET Q q 0 0 0 rg BT 429.05 478.80 Td (whether ) Tj ET Q q 0 0 0 rg BT 469.19 478.80 Td (as ) Tj ET Q q 0 0 0 rg BT 483.06 478.80 Td (a ) Tj ET Q q 0 0 0 rg BT 492.65 478.80 Td (result ) Tj ET Q q 0 0 0 rg BT 521.80 478.80 Td (of ) Tj ET Q q 0 0 0 rg BT 535.68 478.80 Td (new ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 465.60 Td (information, ) Tj ET Q q 0 0 0 rg BT 115.43 465.60 Td (future ) Tj ET Q q 0 0 0 rg BT 144.45 465.60 Td (events ) Tj ET Q q 0 0 0 rg BT 175.30 465.60 Td (or ) Tj ET Q q 0 0 0 rg BT 187.21 465.60 Td (otherwise, ) Tj ET Q q 0 0 0 rg BT 235.48 465.60 Td (except ) Tj ET Q q 0 0 0 rg BT 266.93 465.60 Td (as ) Tj ET Q q 0 0 0 rg BT 278.84 465.60 Td (required ) Tj ET Q q 0 0 0 rg BT 318.24 465.60 Td (by ) Tj ET Q q 0 0 0 rg BT 331.99 465.60 Td (law) Tj ET Q q 0 0 0 rg BT 347.16 465.60 Td (. ) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 439.20 Td (NOTE: ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 92.36 439.20 Td (Additional ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 141.94 439.20 Td (information ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 196.41 439.20 Td (on ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 209.95 439.20 Td (Macy) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 238.05 439.20 Td (s, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 247.61 439.20 Td (Inc., ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 269.70 439.20 Td (including ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 313.78 439.20 Td (past ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 334.04 439.20 Td (news ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 359.18 439.20 Td (releases, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 399.27 439.20 Td (is ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 409.15 439.20 Td (available ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 451.38 439.20 Td (at ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 461.85 439.20 Td (www) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 484.97 439.20 Td (.macysinc.com/) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 426.00 Td (pressroom. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 108.73 426.00 Td (A) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 116.07 426.00 Td ( ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 118.84 426.00 Td (webcast ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 157.04 426.00 Td (of ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 168.97 426.00 Td (Macy's, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 205.80 426.00 Td (Inc.) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 225.65 426.00 Td (s ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 232.70 426.00 Td (call ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 251.35 426.00 Td (with ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 273.68 426.00 Td (analysts ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 311.88 426.00 Td (and ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 330.54 426.00 Td (investors ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 373.03 426.00 Td (will ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 392.91 426.00 Td (be ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 406.06 426.00 Td (held ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 427.77 426.00 Td (today ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 454.98 426.00 Td (\(February ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 501.12 426.00 Td (26, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 517.64 426.00 Td (2019\) ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 546.07 426.00 Td (at ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 412.80 Td (9:30 ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 80.58 412.80 Td (a.m. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 102.54 412.80 Td (ET) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 115.16 412.80 Td (. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 120.72 412.80 Td (The ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 140.85 412.80 Td (webcast, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 182.05 412.80 Td (along ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 209.51 412.80 Td (with ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 232.09 412.80 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 248.55 412.80 Td (associated ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 296.78 412.80 Td (presentation, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 356.31 412.80 Td (is ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 366.67 412.80 Td (accessible ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 414.28 412.80 Td (to ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 425.86 412.80 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 442.32 412.80 Td (media ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 472.23 412.80 Td (and ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 491.13 412.80 Td (general ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 526.52 412.80 Td (public ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 399.60 Td (via ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 74.04 399.60 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 90.09 399.60 Td (company's ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 139.28 399.60 Td (website ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 175.48 399.60 Td (at ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 186.03 399.60 Td (www) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 209.14 399.60 Td (.macysinc.com. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 279.90 399.60 Td (Analysts ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 321.01 399.60 Td (and ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 339.49 399.60 Td (investors ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 381.82 399.60 Td (may ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 403.36 399.60 Td (call ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 421.84 399.60 Td (in ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 433.00 399.60 Td (on ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 446.61 399.60 Td (800-281-7973, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 514.29 399.60 Td (passcode ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 386.40 Td (2586485. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 101.69 386.40 Td (A) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 109.03 386.40 Td ( ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 112.17 386.40 Td (replay ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 142.79 386.40 Td (of ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 155.09 386.40 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 171.66 386.40 Td (conference ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 223.04 386.40 Td (call ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 242.05 386.40 Td (and ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 261.07 386.40 Td (slides ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 289.26 386.40 Td (can ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 307.67 386.40 Td (be ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 321.18 386.40 Td (accessed ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 362.79 386.40 Td (on ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 376.93 386.40 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 393.51 386.40 Td (website ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 430.24 386.40 Td (or ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 442.54 386.40 Td (by ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 456.68 386.40 Td (calling ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 489.75 386.40 Td (888-203-1) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 535.17 386.40 Td (1) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 540.26 386.40 Td (12, ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 373.20 Td (passcode ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 100.46 373.20 Td (2586485, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 144.46 373.20 Td (about ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 171.65 373.20 Td (two ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 190.90 373.20 Td (hours ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 218.09 373.20 Td (after ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 240.99 373.20 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 257.18 373.20 Td (conclusion ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 307.58 373.20 Td (of ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 319.50 373.20 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 335.69 373.20 Td (call.) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 346.80 Td (Macy's, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 94.54 346.80 Td (Inc. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 113.82 346.80 Td (is ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 123.64 346.80 Td (scheduled ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 170.11 346.80 Td (to ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 181.15 346.80 Td (present ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 215.39 346.80 Td (at ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 225.81 346.80 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 241.74 346.80 Td (Bank ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 267.44 346.80 Td (of ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 278.54 346.80 Td (America ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 318.88 346.80 Td (Merrill ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 352.53 346.80 Td (L) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 358.64 346.80 Td (ynch ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 382.50 346.80 Td (Global ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 414.92 346.80 Td (Consumer ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 462.63 346.80 Td (& ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 473.67 346.80 Td (Retail ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 502.24 346.80 Td (T) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 508.19 346.80 Td (echnology ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 333.60 Td (Conference ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 110.95 333.60 Td (at ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 121.14 333.60 Td (8:00 ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 142.95 333.60 Td (a.m. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 164.14 333.60 Td (ET) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 177.38 333.60 Td ( ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 179.64 333.60 Td (on ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 192.73 333.60 Td (T) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 199.06 333.60 Td (uesday) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 228.89 333.60 Td (, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 233.90 333.60 Td (March ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 264.86 333.60 Td (12, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 280.86 333.60 Td (2019, ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 307.87 333.60 Td (in ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 318.68 333.60 Td (New ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 341.37 333.60 Td (Y) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 348.21 333.60 Td (ork ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 365.13 333.60 Td (City) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 383.36 333.60 Td (. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 388.37 333.60 Td (Media ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 418.72 333.60 Td (and ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 436.86 333.60 Td (investors ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 478.83 333.60 Td (may ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 500.03 333.60 Td (access ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 530.37 333.60 Td (a ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 537.51 333.60 Td (live ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 320.40 Td (audio ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 85.27 320.40 Td (webcast ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 123.54 320.40 Td (of ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 135.53 320.40 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 151.81 320.40 Td (presentations ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 212.68 320.40 Td (at ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 223.45 320.40 Td (www) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 246.57 320.40 Td (.macysinc.com/investors. ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 360.28 320.40 Td (A) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 367.62 320.40 Td ( ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 370.45 320.40 Td (replay ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 400.77 320.40 Td (of ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 412.77 320.40 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 429.04 320.40 Td (webcast ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 467.31 320.40 Td (will ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 487.25 320.40 Td (be ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 500.47 320.40 Td (available ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 543.00 320.40 Td (on ) Tj ET Q BT /F1 11.00 Tf ET q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 58.00 307.20 Td (the ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 74.19 307.20 Td (company's ) Tj ET Q q 0.10588235294117647 0.10588235294117647 0.10588235294117647 rg BT 123.52 307.20 Td (website.) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 0 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 58 279.07856445312495 m 99.55078125 279.07856445312495 l s q 0 0 0 rg BT 58.00 280.80 Td (Contacts) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 99.55 280.80 Td (:) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 58.00 267.60 Td (Media Blair) Tj ET Q q 0 0 0 rg BT 122.57 267.60 Td ( Fasbender) Tj ET Q q 0 0 0 rg BT 174.62 267.60 Td ( Rosenberg) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 58.00 254.40 Td (646-429-6032) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 58.00 241.20 Td (media@macys.com) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 58.00 214.80 Td (Investors R) Tj ET Q q 0 0 0 rg BT 119.94 214.80 Td (yan ) Tj ET Q q 0 0 0 rg BT 139.21 214.80 Td (Alleman) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 58.00 201.60 Td (513-579-7780) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 58.00 188.40 Td (investors@macys.com) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.00 772.60 Td (5) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 269.75 741.60 Td (MACYS, INC.) Tj ET Q BT /F1 11.00 Tf ET 0 0 0 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 179.8 713.73369140625 m 432.1232421875 713.73369140625 l s q 0 0 0 rg BT 179.80 715.20 Td (Consolidated Statements of Income \(Unaudited\) \(Note 1\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 159.80 702.00 Td (\(All amounts in millions except percentages and per share figures\)) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 667.5 m 384.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 667.5 m 390.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 667.5 m 436.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 667.5 m 500.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 667.5 m 506.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 667.5 m 552.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 643.5 m 384.5 643.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 643.5 m 436.5 643.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 667.5 m 500.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 643.5 m 500.5 643.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 667.5 m 506.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 667.5 m 552.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 643.5 m 552.5 643.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 493.5 m 500.5 493.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 493.5 m 384.5 493.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 368.5 m 384.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 368.5 m 500.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 318.5 m 384.5 318.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 318.5 m 500.5 318.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 268.5 m 384.5 268.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 268.5 m 500.5 268.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 244.5 m 384.5 244.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 242.5 m 384.5 242.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 244.5 m 500.5 244.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 242.5 m 500.5 242.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 210.5 m 384.5 210.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 208.5 m 384.5 208.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 210.5 m 500.5 210.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 208.5 m 500.5 208.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 175.5 m 384.5 175.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 173.5 m 384.5 173.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 175.5 m 500.5 175.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 173.5 m 500.5 173.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.60 682.12 Td (13 ) Tj ET Q q 0 0 0 rg BT 366.01 682.12 Td (W) Tj ET Q q 0 0 0 rg BT 374.96 682.12 Td (eeks Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.60 682.12 Td (14 ) Tj ET Q q 0 0 0 rg BT 482.01 682.12 Td (W) Tj ET Q q 0 0 0 rg BT 490.96 682.12 Td (eeks Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.70 670.12 Td (February 2, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.70 670.12 Td (February 3, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 648.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 658.07 Td (% to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.80 648.07 Td (Net sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.50 648.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 658.07 Td (% to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.80 648.07 Td (Net sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 628.07 Td (Net sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 628.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 628.07 Td (8,455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.00 628.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 628.07 Td (8,672) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 603.17 Td (Credit card revenues, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 603.17 Td (240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.80 603.17 Td (2.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.30 603.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 603.17 Td (229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 603.17 Td (2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 603.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 573.17 Td (Cost of sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.80 573.22 Td (\(5,288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 573.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.45 573.17 Td (\(62.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.30 573.17 Td (%\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.80 573.22 Td (\(5,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 573.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.45 573.17 Td (\(61.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 573.17 Td (%\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 549.07 Td (Selling, general and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.80 548.22 Td (\(2,538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 548.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.45 548.17 Td (\(30.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.30 548.17 Td (%\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.80 548.22 Td (\(2,548) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 548.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.45 548.17 Td (\(29.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 548.17 Td (%\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 524.07 Td (Gains on sale of real estate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 523.17 Td (278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.80 523.17 Td (3.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.30 523.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 523.17 Td (368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 523.17 Td (4.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 523.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 499.07 Td (Restructuring, impairment, store closing and other costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.30 498.22 Td (\(97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 498.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.45 498.17 Td (\(1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.30 498.17 Td (%\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 498.22 Td (\(152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 498.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.45 498.17 Td (\(1.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 498.17 Td (%\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 474.07 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 473.17 Td (1,050) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.80 473.17 Td (12.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.30 473.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 473.17 Td (1,246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 473.17 Td (14.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 473.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 449.07 Td (Benefit plan income, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.65 448.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 448.17 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 424.07 Td (Settlement char) Tj ET Q q 0 0 0 rg BT 123.39 424.07 Td (ges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.30 423.22 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 423.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 423.22 Td (\(32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 423.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 399.07 Td (Interest expense, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.30 398.22 Td (\(49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 398.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 398.22 Td (\(73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 398.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 374.07 Td (Gains \(losses\) on early retirement of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.30 373.22 Td (\(28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 373.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 373.17 Td (1) Tj ET Q q 0 0 0 rg BT 491.65 373.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 349.07 Td (Income before income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 348.17 Td (966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 348.17 Td (1,167) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 324.07 Td (Federal, state and local income tax benefit\(expense\) \(Note 2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.30 323.22 Td (\(226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 323.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 323.17 Td (176) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 299.07 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 298.17 Td (740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 298.17 Td (1,343) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 274.07 Td (Net loss attributable to noncontrolling interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 273.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 273.17 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 249.07 Td (Net income attributable to Macy's, Inc. shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 248.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 248.17 Td (740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.00 248.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 248.17 Td (1,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 224.07 Td (Basic earnings per share attributable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 214.07 Td ( Macy's, Inc. shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 214.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 214.17 Td (2.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.00 214.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 214.17 Td (4.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 190.07 Td (Diluted earnings per share attributable to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 180.07 Td ( Macy's, Inc. shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 179.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 179.17 Td (2.37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.00 179.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 179.17 Td (4.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 155.07 Td (A) Tj ET Q q 0 0 0 rg BT 67.48 155.07 Td (verage common shares:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 140.07 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 139.17 Td (308.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 139.17 Td (305.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 125.07 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 124.17 Td (31) Tj ET Q q 0 0 0 rg BT 368.15 124.17 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 124.17 Td (307.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 100.07 Td (End of period common shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 99.17 Td (307.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 99.17 Td (304.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 75.07 Td (Supplemental Financial Measures:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 60.07 Td (Gross Mar) Tj ET Q q 0 0 0 rg BT 109.40 60.07 Td (gin \(Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 59.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 59.17 Td (3,167) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.80 60.07 Td (37.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 60.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.00 59.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 59.17 Td (3,349) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 60.07 Td (38.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 60.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 45.07 Td (Depreciation and amortization expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 44.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 44.17 Td (244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.00 44.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 44.17 Td (250) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.00 772.60 Td (6) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 269.75 741.60 Td (MACYS, INC.) Tj ET Q BT /F1 11.00 Tf ET 0 0 0 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 179.8 713.73369140625 m 432.1232421875 713.73369140625 l s q 0 0 0 rg BT 179.80 715.20 Td (Consolidated Statements of Income \(Unaudited\) \(Note 1\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 159.80 702.00 Td (\(All amounts in millions except percentages and per share figures\)) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 667.5 m 384.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 667.5 m 390.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 667.5 m 436.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 667.5 m 500.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 667.5 m 506.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 667.5 m 552.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 643.5 m 384.5 643.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 643.5 m 436.5 643.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 667.5 m 500.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 643.5 m 500.5 643.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 667.5 m 506.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 667.5 m 552.5 667.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 643.5 m 552.5 643.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 493.5 m 384.5 493.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 493.5 m 500.5 493.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 493.5 m 384.5 493.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 368.5 m 384.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 368.5 m 500.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 318.5 m 384.5 318.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 318.5 m 500.5 318.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 268.5 m 384.5 268.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 268.5 m 500.5 268.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 244.5 m 384.5 244.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 242.5 m 384.5 242.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 244.5 m 500.5 244.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 242.5 m 500.5 242.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 210.5 m 384.5 210.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 208.5 m 384.5 208.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 210.5 m 500.5 210.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 208.5 m 500.5 208.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 175.5 m 384.5 175.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 173.5 m 384.5 173.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 175.5 m 500.5 175.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 173.5 m 500.5 173.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.05 682.12 Td (52 weeks ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.05 682.12 Td (53 weeks ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.70 670.12 Td (February 2, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.70 670.12 Td (February 3, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 648.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 658.07 Td (% to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.80 648.07 Td (Net sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.50 648.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 658.07 Td (% to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.80 648.07 Td (Net sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 628.07 Td (Net sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 628.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.10 628.07 Td (24,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.00 628.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.10 628.07 Td (24,939) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 603.17 Td (Credit card revenues, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 603.17 Td (768) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.80 603.17 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 603.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 603.17 Td (702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 603.17 Td (2.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 603.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 573.17 Td (Cost of sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.80 573.22 Td (\(15,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 573.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.45 573.17 Td (\(60.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.30 573.17 Td (%\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.80 573.22 Td (\(15,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 573.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.45 573.17 Td (\(60.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 573.17 Td (%\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 549.07 Td (Selling, general and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.80 548.22 Td (\(9,039) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 548.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.45 548.17 Td (\(36.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.30 548.17 Td (%\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.80 548.22 Td (\(8,954) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 548.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.45 548.17 Td (\(35.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 548.17 Td (%\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 524.07 Td (Gains on sale of real estate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 523.17 Td (389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.80 523.17 Td (1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.30 523.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 523.17 Td (544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 523.17 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 523.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 499.07 Td (Restructuring, impairment, store closings and other costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.30 498.22 Td (\(136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 498.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.45 498.17 Td (\(0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.30 498.17 Td (%\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 498.22 Td (\(186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 498.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.45 498.17 Td (\(0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 498.17 Td (%\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 474.07 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 473.17 Td (1,738) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.80 473.17 Td (7.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.30 473.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 473.17 Td (1,864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 473.17 Td (7.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 473.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 449.07 Td (Benefit plan income, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 448.17 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 448.17 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 424.07 Td (Settlement char) Tj ET Q q 0 0 0 rg BT 123.39 424.07 Td (ges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.30 423.22 Td (\(88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 423.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 423.22 Td (\(105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 423.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 399.07 Td (Interest expense, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.30 398.22 Td (\(236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 398.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.30 398.22 Td (\(310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 398.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 374.07 Td (Gains \(losses\) on early retirement of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.30 373.22 Td (\(33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 373.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 373.17 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 349.07 Td (Income before income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 348.17 Td (1,420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 348.17 Td (1,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 324.07 Td (Federal, state and local income taxbenefit \(expense\) \(Note 2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.30 323.22 Td (\(322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 323.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 323.17 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 299.07 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 298.17 Td (1,098) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 298.17 Td (1,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 274.07 Td (Net loss attributable to noncontrolling interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 273.17 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 273.17 Td (1) Tj ET Q q 0 0 0 rg BT 491.65 273.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 249.07 Td (Net income attributable to Macy's, Inc. shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 248.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 248.17 Td (1,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.00 248.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 248.17 Td (1,566) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 224.07 Td (Basic earnings per share attributable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 214.07 Td ( Macy's, Inc. shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 214.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 214.17 Td (3.60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.00 214.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 214.17 Td (5.13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 190.07 Td (Diluted earnings per share attributable to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 180.07 Td ( Macy's, Inc. shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 179.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 179.17 Td (3.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.00 179.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 179.17 Td (5.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 155.07 Td (A) Tj ET Q q 0 0 0 rg BT 67.48 155.07 Td (verage common shares:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 140.07 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 139.17 Td (307.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 139.17 Td (305.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 125.07 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 124.17 Td (31) Tj ET Q q 0 0 0 rg BT 368.15 124.17 Td (1.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 124.17 Td (306.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 100.07 Td (End of period common shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 99.17 Td (307.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 99.17 Td (304.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 75.07 Td (Supplemental Financial Measures:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 60.07 Td (Gross Mar) Tj ET Q q 0 0 0 rg BT 109.40 60.07 Td (gin \(Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 59.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 59.17 Td (9,756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.80 60.07 Td (39.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 60.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.00 59.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 59.17 Td (9,758) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 60.07 Td (39.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 60.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 45.07 Td (Depreciation and amortization expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 44.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 44.17 Td (962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.00 44.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 44.17 Td (991) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.00 772.60 Td (7) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 269.75 741.60 Td (MACYS, INC.) Tj ET Q BT /F1 11.00 Tf ET 0 0 0 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 194.35 713.73369140625 m 417.6478515625 713.73369140625 l s q 0 0 0 rg BT 194.35 715.20 Td (Consolidated Balance Sheets \(Unaudited\) \(Note 1\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 284.30 702.00 Td (\(millions\)) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 652.5 m 459.5 652.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 652.5 m 553.5 652.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 562.5 m 459.5 562.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 562.5 m 553.5 562.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 562.5 m 553.5 562.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 473.5 m 459.5 473.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 473.5 m 553.5 473.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 445.5 m 459.5 445.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 443.5 m 459.5 443.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 445.5 m 553.5 445.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 443.5 m 553.5 443.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 340.5 m 553.5 340.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 340.5 m 459.5 340.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 340.5 m 553.5 340.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 221.5 m 459.5 221.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 221.5 m 553.5 221.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 206.5 m 459.5 206.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 206.5 m 553.5 206.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 178.5 m 459.5 178.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 176.5 m 459.5 176.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 178.5 m 553.5 178.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 176.5 m 553.5 176.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.20 657.17 Td (February 2, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.20 657.17 Td (February 3, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 643.07 Td (ASSETS:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 628.07 Td ( Current ) Tj ET Q q 0 0 0 rg BT 101.27 628.07 Td (Assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 613.07 Td ( Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 612.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 612.17 Td (1,162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.00 612.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 612.17 Td (1,455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 598.07 Td ( Receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 597.17 Td (400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.65 597.17 Td (363) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 583.07 Td ( Merchandise inventories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 582.17 Td (5,263) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 582.17 Td (5,178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 568.07 Td ( Prepaid expenses and other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 567.17 Td (620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.65 567.17 Td (650) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 553.07 Td ( ) Tj ET Q q 0 0 0 rg BT 83.41 553.07 Td (T) Tj ET Q q 0 0 0 rg BT 89.08 553.07 Td (otal Current ) Tj ET Q q 0 0 0 rg BT 139.00 553.07 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 552.17 Td (7,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 552.17 Td (7,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 524.07 Td ( Property and Equipment net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 523.17 Td (6,637) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 523.17 Td (6,672) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 509.07 Td ( Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 508.17 Td (3,908) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 508.17 Td (3,897) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 494.07 Td ( Other Intangible ) Tj ET Q q 0 0 0 rg BT 136.53 494.07 Td (Assets net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 493.17 Td (478) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.65 493.17 Td (488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 479.07 Td ( Other ) Tj ET Q q 0 0 0 rg BT 93.49 479.07 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 478.17 Td (726) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.65 478.17 Td (880) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 450.07 Td ( ) Tj ET Q q 0 0 0 rg BT 83.41 450.07 Td (T) Tj ET Q q 0 0 0 rg BT 89.08 450.07 Td (otal ) Tj ET Q q 0 0 0 rg BT 105.95 450.07 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 449.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 449.17 Td (19,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.00 449.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.15 449.17 Td (19,583) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 421.07 Td (LIABILITIES ) Tj ET Q q 0 0 0 rg BT 120.16 421.07 Td (AND SHAREHOLDERS) Tj ET Q q 0 0 0 rg BT 225.80 421.07 Td ( EQUITY) Tj ET Q q 0 0 0 rg BT 264.60 421.07 Td (:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 406.07 Td ( Current Liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 391.07 Td ( Short-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 390.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 390.17 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.00 390.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 390.17 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 376.07 Td ( Merchandise accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 375.17 Td (1,655) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 375.17 Td (1,590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 361.07 Td ( ) Tj ET Q q 0 0 0 rg BT 75.72 361.07 Td (Accounts payable and accrued liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 360.17 Td (3,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 360.17 Td (3,271) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 346.07 Td ( Income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 345.17 Td (168) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.65 345.17 Td (296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 331.07 Td ( ) Tj ET Q q 0 0 0 rg BT 83.41 331.07 Td (T) Tj ET Q q 0 0 0 rg BT 89.08 331.07 Td (otal Current Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 330.17 Td (5,232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 330.17 Td (5,179) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 302.07 Td ( Long-T) Tj ET Q q 0 0 0 rg BT 98.70 302.07 Td (erm Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 301.17 Td (4,708) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 301.17 Td (5,861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 287.07 Td ( Deferred Income ) Tj ET Q q 0 0 0 rg BT 138.92 287.07 Td (T) Tj ET Q q 0 0 0 rg BT 144.59 287.07 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 286.17 Td (1,238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 286.17 Td (1,148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 272.07 Td ( Other Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 271.17 Td (1,580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 271.17 Td (1,662) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 257.07 Td (Shareholders' Equity:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 242.07 Td (Macy's, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 241.17 Td (6,436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 241.17 Td (5,745) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 227.07 Td (Noncontrolling interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 226.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.30 226.22 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.65 226.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 212.07 Td (T) Tj ET Q q 0 0 0 rg BT 93.41 212.07 Td (otal Shareholders' Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 211.17 Td (6,436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 211.17 Td (5,733) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 183.07 Td ( ) Tj ET Q q 0 0 0 rg BT 83.32 183.07 Td (T) Tj ET Q q 0 0 0 rg BT 88.73 183.07 Td (otal Liabilities and Shareholders) Tj ET Q q 0 0 0 rg BT 221.00 183.07 Td ( Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 182.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 182.17 Td (19,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.00 182.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.15 182.17 Td (19,583) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.00 772.60 Td (8) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 269.75 741.60 Td (MACYS, INC.) Tj ET Q BT /F1 11.00 Tf ET 0 0 0 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 170.5 713.73369140625 m 441.48779296875 713.73369140625 l s q 0 0 0 rg BT 170.50 715.20 Td (Consolidated Statements of Cash Flows \(Unaudited\) \(Note 1\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 284.30 702.00 Td (\(millions\)) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 642.5 m 485.5 642.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 642.5 m 554.5 642.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 378.5 m 485.5 378.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 364.5 m 485.5 364.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 378.5 m 554.5 378.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 364.5 m 554.5 364.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 288.5 m 485.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 274.5 m 485.5 274.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 288.5 m 554.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 274.5 m 554.5 274.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 170.5 m 485.5 170.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 170.5 m 554.5 170.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 170.5 m 485.5 170.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 156.5 m 485.5 156.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 170.5 m 554.5 170.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 156.5 m 554.5 156.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 122.5 m 485.5 122.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 122.5 m 554.5 122.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 103.5 m 485.5 103.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.5 101.5 m 485.5 101.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 103.5 m 554.5 103.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 101.5 m 554.5 101.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.60 682.07 Td (52 ) Tj ET Q q 0 0 0 rg BT 448.01 682.07 Td (W) Tj ET Q q 0 0 0 rg BT 456.96 682.07 Td (eeks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.20 672.07 Td (Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.10 682.07 Td (53 ) Tj ET Q q 0 0 0 rg BT 517.51 682.07 Td (W) Tj ET Q q 0 0 0 rg BT 526.46 682.07 Td (eeks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.70 672.07 Td (Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.95 657.17 Td (February 2,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.00 647.17 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.45 657.17 Td (February 3,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.50 647.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 633.07 Td (Cash flows from operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 619.07 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.00 619.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 619.07 Td (1,098) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 619.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 619.07 Td (1,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 605.07 Td (Adjustments to reconcile net income to net cash provided by operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 590.07 Td (Restructuring, impairment, store closing and other costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 590.07 Td (136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 590.07 Td (186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 576.07 Td (Settlement char) Tj ET Q q 0 0 0 rg BT 159.39 576.07 Td (ges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 576.07 Td (88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 576.07 Td (105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 562.07 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 562.07 Td (962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 562.07 Td (991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 548.07 Td (Stock-based compensation expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 548.07 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 548.07 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 534.07 Td (Gains on sale of real estate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 534.12 Td (\(389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 534.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 534.12 Td (\(544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 534.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 520.07 Td (Amortization of financing costs and premium on acquired debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.30 520.12 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 520.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 520.12 Td (\(45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 520.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 506.07 Td (Changes in assets and liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.00 492.07 Td ( \(Increase\) decrease in receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.30 492.12 Td (\(61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 492.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 492.07 Td (120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.00 478.07 Td ( \(Increase\) decrease in merchandise inventories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.30 478.12 Td (\(87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 478.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 478.07 Td (221) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.00 464.07 Td ( Decrease in prepaid expenses and other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 464.07 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 464.07 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.00 450.07 Td ( Increase in merchandise accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 450.07 Td (55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 450.07 Td (162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.00 436.07 Td ( Increase \(decrease\) in accounts payable, accrued liabilities and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.00 426.07 Td (other items not separately identified) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 425.17 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 425.22 Td (\(186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 425.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.00 411.07 Td ( Decrease in current income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 411.12 Td (\(136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 411.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 411.12 Td (\(1) Tj ET Q q 0 0 0 rg BT 540.63 411.12 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 411.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.00 397.07 Td ( Increase \(decrease\) in deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 397.07 Td (1) Tj ET Q q 0 0 0 rg BT 471.65 397.07 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 397.12 Td (\(421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 397.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.00 383.07 Td ( Change in other assets and liabilities not separately identified) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 383.12 Td (\(156) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 383.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 383.12 Td (\(129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 383.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.00 369.07 Td (Net cash provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 369.07 Td (1,735) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 369.07 Td (1,976) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 349.07 Td (Cash flows from investing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 335.07 Td (Purchase of property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 335.12 Td (\(657) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 335.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 335.12 Td (\(487) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 335.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 321.07 Td (Capitalized software) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 321.12 Td (\(275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 321.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 321.12 Td (\(273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 321.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 307.07 Td (Disposition of property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 307.07 Td (474) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 307.07 Td (41) Tj ET Q q 0 0 0 rg BT 545.65 307.07 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 293.07 Td (Other) Tj ET Q q 0 0 0 rg BT 101.57 293.07 Td (, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 293.07 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.30 293.12 Td (\(2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 293.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.00 279.07 Td (Net cash used by investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 279.12 Td (\(456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 279.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 279.12 Td (\(351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 279.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 259.07 Td (Cash flows from financing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 245.07 Td (Debt repaid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.80 245.12 Td (\(1,149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 245.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 245.12 Td (\(988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 245.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 231.07 Td (Dividends paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 231.12 Td (\(463) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 231.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 231.12 Td (\(461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 231.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 217.07 Td (Increase \(decrease\) in outstanding checks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 217.07 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 217.12 Td (\(15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 217.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 203.07 Td (Acquisition of treasury stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 203.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.30 203.12 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 203.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 189.07 Td (Issuance of common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 189.07 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.65 189.07 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.00 175.07 Td (Proceeds from noncontrolling interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 175.07 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 175.07 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.00 161.07 Td (Net cash used by financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.80 161.12 Td (\(1,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 161.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.80 161.12 Td (\(1,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 161.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 141.07 Td (Net increase \(decrease\) in cash, cash equivalents and restricted cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 141.12 Td (\(265) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 141.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 141.07 Td (179) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 127.07 Td (Cash, cash equivalents and restricted cash beginning of period \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 127.07 Td (1,513) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 127.07 Td (1,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 107.07 Td (Cash, cash equivalents and restricted cash end of period \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.00 107.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 107.07 Td (1,248) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 107.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 107.07 Td (1,513) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.00 772.60 Td (9) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 269.75 741.60 Td (MACYS, INC.) Tj ET Q BT /F1 11.00 Tf ET 0 0 0 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 201.65 713.73369140625 m 410.30087890625 713.73369140625 l s q 0 0 0 rg BT 201.65 715.20 Td (Consolidated Financial Statements \(Unaudited\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 688.80 Td (Notes:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 662.40 Td (\(1\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 662.40 Td (The results for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 159.09 662.40 Td (52 weeks ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 229.34 662.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 232.09 662.40 Td (February2, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.55 662.40 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 326.99 662.40 Td (53 weeks ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 397.24 662.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 399.99 662.40 Td (February3, 2018) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.45 662.40 Td ( reflect the new ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 649.20 Td (accounting standards related to revenue recognition and retirement benefits. Macy's, Inc. has recast its ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 636.00 Td (quarterly income statements and balance sheets for 2016 and 2017 to reflect adoption of these new ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 622.80 Td (standards. ) Tj ET Q q 0 0 0 rg BT 122.85 622.80 Td (These documents can be found on the investor relations page at www) Tj ET Q q 0 0 0 rg BT 427.90 622.80 Td (.macysinc.com.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 597.60 Td (\(2\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 597.60 Td (The 14 and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 128.23 597.60 Td (53 weeks ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 198.49 597.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 201.24 597.60 Td (February3, 2018) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 276.70 597.60 Td ( include the recognition of a non-cash tax benefit of $584 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 584.40 Td (million, or $1.90 per diluted share attributable to Macy's, Inc., associated with the re-measurement of the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 571.20 Td (company's deferred tax balances as a result of federal tax reform.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 544.80 Td (\(3\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 544.80 Td (Gross mar) Tj ET Q q 0 0 0 rg BT 121.32 544.80 Td (gin is defined as net sales less cost of sales.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 518.40 Td (\(4\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 518.40 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 95.85 518.40 Td (52 weeks ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 166.11 518.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.86 518.40 Td (February2, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.31 518.40 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 263.75 518.40 Td (53 weeks ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 334.01 518.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 336.76 518.40 Td (February3, 2018) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 412.21 518.40 Td ( reflect the retrospective ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 505.20 Td (adoption of ) Tj ET Q q 0 0 0 rg BT 128.55 505.20 Td (ASU 2016-18 \(ASU 2016-18\), Restricted Cash, and ) Tj ET Q q 0 0 0 rg BT 359.84 505.20 Td (ASU 2016-15, Classification of Certain ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 492.00 Td (Cash Receipts and Cash Payments, on February 4, 2018. ) Tj ET Q q 0 0 0 rg BT 327.14 492.00 Td (As a result of the adoption of ) Tj ET Q q 0 0 0 rg BT 457.58 492.00 Td (ASU 2016-18, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 478.80 Td (restricted cash of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 153.88 478.80 Td ($86 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 204.91 478.80 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 226.29 478.80 Td ($58 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 277.32 478.80 Td ( have been included with cash and cash equivalents above for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 465.60 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 92.19 465.60 Td (52 weeks ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 162.44 465.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 165.19 465.60 Td (February2, 2019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 240.65 465.60 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 262.03 465.60 Td (53 weeks ended) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.29 465.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 335.04 465.60 Td (February3, 2018) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 410.50 465.60 Td (, respectively) Tj ET Q q 0 0 0 rg BT 468.42 465.60 Td (. Further) Tj ET Q q 0 0 0 rg BT 505.86 465.60 Td (, certain ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 452.40 Td (reclassifications were made to the prior period's amounts to conform with the classifications of such ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 439.20 Td (amounts in the most recent period. ) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.00 772.60 Td (10) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 269.75 741.60 Td (MACYS, INC.) Tj ET Q BT /F1 11.00 Tf ET 0 0 0 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 160.6 713.73369140625 m 451.32119140625 713.73369140625 l s q 0 0 0 rg BT 160.60 715.20 Td (Important Information Regarding Non-GAAP) Tj ET Q q 0 0 0 rg BT 362.74 715.20 Td ( Financial Measures) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 688.80 Td (The company reports its financial results in accordance with U.S. generally accepted accounting principles ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 675.60 Td (\("GAAP"\). However) Tj ET Q q 0 0 0 rg BT 149.63 675.60 Td (, management believes that certain non-GAAP) Tj ET Q q 0 0 0 rg BT 354.49 675.60 Td ( financial measures provide users of the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 662.40 Td (company's financial information with additional useful information in evaluating operating performance. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 649.20 Td (Management believes that providing supplemental changes in comparable sales on an owned plus licensed basis ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 636.00 Td (and changes in comparable sales on an owned plus licensed basis adjusted for the 53) Tj ET Q BT /F1 11.00 Tf ET BT /F1 7.15 Tf ET q 0 0 0 rg BT 430.06 640.98 Td (rd) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 436.02 636.00 Td ( week calendar shift, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 622.80 Td (which includes adjusting for growth in comparable sales of departments licensed to third parties, assists in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 609.60 Td (evaluating the company's ability to generate sales growth, whether through owned businesses or departments ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 596.40 Td (licensed to third parties, and in evaluating the impact of changes in the manner in which certain departments are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 583.20 Td (operated. Earnings before interest, taxes, depreciation and amortization \(EBITDA\) is a non-GAAP) Tj ET Q q 0 0 0 rg BT 491.95 583.20 Td ( financial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 570.00 Td (measure which the company believes provides meaningful information about its operational ef) Tj ET Q q 0 0 0 rg BT 474.15 570.00 Td (ficiency by ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 556.80 Td (excluding the impact of changes in tax law and structure, debt levels and capital investment. In addition, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 543.60 Td (management believes that excluding certain items from EBITDA, net income and diluted earnings per share ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 530.40 Td (attributable to Macy's, Inc. shareholders that are not associated with the company) Tj ET Q q 0 0 0 rg BT 418.89 530.40 Td (s core operations and that may ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 517.20 Td (vary substantially in frequency and magnitude period-to-period provides useful supplemental measures that ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 504.00 Td (assist in evaluating the company's ability to generate earnings and to more readily compare these metrics ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 490.80 Td (between past and future periods. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 464.40 Td (The reconciliation of the forward-looking non-GAAP) Tj ET Q q 0 0 0 rg BT 293.72 464.40 Td ( financial measure of changes in comparable sales on an ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 451.20 Td (owned plus licensed basis to GAAP) Tj ET Q q 0 0 0 rg BT 215.55 451.20 Td ( comparable sales \(i.e., on an owned basis\) is in the same manner as ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 438.00 Td (illustrated below) Tj ET Q q 0 0 0 rg BT 130.91 438.00 Td (, except that the impact of growth in comparable sales of departments licensed to third parties is ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 424.80 Td (the only reconciling item. In addition, the company does not provide the most directly comparable forward-) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 411.60 Td (looking GAAP) Tj ET Q q 0 0 0 rg BT 123.90 411.60 Td ( measure of diluted earnings per share attributable to Macy) Tj ET Q q 0 0 0 rg BT 386.28 411.60 Td (s, Inc. shareholders excluding certain ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 398.40 Td (items because the timing and amount of excluded items are unreasonably dif) Tj ET Q q 0 0 0 rg BT 394.72 398.40 Td (ficult to fully and accurately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 385.20 Td (estimate. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 358.80 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 110.15 358.80 Td ( financial measures should be viewed as supplementing, and not as an alternative or substitute for) Tj ET Q q 0 0 0 rg BT 538.59 358.80 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 345.60 Td (the company's financial results prepared in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 351.99 345.60 Td (. Certain of the items that may be excluded or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 332.40 Td (included in non-GAAP) Tj ET Q q 0 0 0 rg BT 159.64 332.40 Td ( financial measures may be significant items that could impact the company's financial ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 319.20 Td (position, results of operations or cash flows and should therefore be considered in assessing the company's ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 306.00 Td (actual and future financial condition and performance. ) Tj ET Q q 0 0 0 rg BT 299.29 306.00 Td (Additionally) Tj ET Q q 0 0 0 rg BT 354.18 306.00 Td (, the amounts received by the company on ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 292.80 Td (account of sales of departments licensed to third parties are limited to commissions received on such sales. ) Tj ET Q q 0 0 0 rg BT 530.05 292.80 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 279.60 Td (methods used by the company to calculate its non-GAAP) Tj ET Q q 0 0 0 rg BT 309.93 279.60 Td ( financial measures may dif) Tj ET Q q 0 0 0 rg BT 431.30 279.60 Td (fer significantly from ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 266.40 Td (methods used by other companies to compute similar measures. ) Tj ET Q q 0 0 0 rg BT 340.88 266.40 Td (As a result, any non-GAAP) Tj ET Q q 0 0 0 rg BT 461.77 266.40 Td ( financial measures ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 253.20 Td (presented herein may not be comparable to similar measures provided by other companies.) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.35 772.60 Td (1) Tj ET Q q 0 0 0 rg BT 556.98 772.60 Td (1) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 269.75 741.60 Td (MACYS, INC.) Tj ET Q BT /F1 11.00 Tf ET 0 0 0 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 160.6 713.73369140625 m 451.32119140625 713.73369140625 l s q 0 0 0 rg BT 160.60 715.20 Td (Important Information Regarding Non-GAAP) Tj ET Q q 0 0 0 rg BT 362.74 715.20 Td ( Financial Measures) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 159.80 702.00 Td (\(All amounts in millions except percentages and per share figures\)) Tj ET Q BT /F1 11.00 Tf ET 0 0 0 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 58 674.13369140625 m 189.6669921875 674.13369140625 l s q 0 0 0 rg BT 58.00 675.60 Td (Changes in Comparable Sales) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 634.1 m 473.5 634.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 634.1 m 554.5 634.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 575.1 m 473.5 575.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 575.1 m 554.5 575.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 513.1 m 473.5 513.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 513.1 m 554.5 513.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 472.1 m 473.5 472.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 470.1 m 473.5 470.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 472.1 m 554.5 472.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 470.1 m 554.5 470.1 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.10 655.67 Td (13 ) Tj ET Q q 0 0 0 rg BT 415.51 655.67 Td (W) Tj ET Q q 0 0 0 rg BT 424.46 655.67 Td (eeks Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.45 645.67 Td (February 2,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.50 635.72 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.10 655.67 Td (52 ) Tj ET Q q 0 0 0 rg BT 496.42 655.67 Td (W) Tj ET Q q 0 0 0 rg BT 505.06 655.67 Td (eeks Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.45 645.67 Td (February 2,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.50 635.72 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 608.77 Td (Increase in comparable sales on an owned basis \(Note 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 608.77 Td (0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 608.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 608.77 Td (1.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.65 608.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 579.77 Td (Comparable sales growth impact of departments licensed to third parties \(Note 2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 579.77 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 579.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 579.77 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.65 579.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 549.77 Td (Increase in comparable sales on an owned plus licensed basis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 549.77 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 549.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 549.77 Td (2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.65 549.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 517.77 Td (Impact of 53) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 112.09 522.30 Td (rd) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.51 517.77 Td ( ) Tj ET Q q 0 0 0 rg BT 119.83 517.77 Td (W) Tj ET Q q 0 0 0 rg BT 128.46 517.77 Td (eek Shifted Calendar) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 517.77 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 517.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 517.77 Td (0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.65 517.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 485.77 Td (53rd ) Tj ET Q q 0 0 0 rg BT 81.65 485.77 Td (W) Tj ET Q q 0 0 0 rg BT 90.29 485.77 Td (eek Shifted Calendar comparable sales on an owned plus licensed basis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 475.77 Td (\(Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 475.77 Td (2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 475.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 475.77 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.65 475.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 446.40 Td (Notes:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 422.40 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 422.40 Td (Represents the period-to-period percentage change in net sales from stores in operation throughout the year presented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 410.40 Td (and the immediately preceding year and all online sales, excluding commissions from departments licensed to third ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 398.40 Td (parties. Stores impacted by a natural disaster or under) Tj ET Q q 0 0 0 rg BT 290.47 398.40 Td (going significant expansion or shrinkage remain in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 386.40 Td (comparable sales calculation unless the store, or material portion of the store, is closed for a significant period of time. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 374.40 Td (Definitions and calculations of comparable sales dif) Tj ET Q q 0 0 0 rg BT 283.53 374.40 Td (fer among companies in the retail industry) Tj ET Q q 0 0 0 rg BT 452.27 374.40 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 350.40 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 350.40 Td (Represents the impact of including the sales of departments licensed to third parties occurring in stores in operation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 338.40 Td (throughout the year presented and the immediately preceding year and all online sales in the calculation of comparable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 326.40 Td (sales. ) Tj ET Q q 0 0 0 rg BT 100.26 326.40 Td (The company licenses third parties to operate certain departments in its stores and online and receives ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 314.40 Td (commissions from these third parties based on a percentage of their net sales. In its financial statements prepared in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 302.40 Td (conformity with GAAP) Tj ET Q q 0 0 0 rg BT 169.33 302.40 Td (, the company includes these commissions \(rather than sales of the departments licensed to third ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 290.40 Td (parties\) in its net sales. ) Tj ET Q q 0 0 0 rg BT 169.69 290.40 Td (The company does not, however) Tj ET Q q 0 0 0 rg BT 299.53 290.40 Td (, include any amounts in respect of licensed department sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 278.40 Td (\(or any commissions earned on such sales\) in its comparable sales in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 447.75 278.40 Td ( \(i.e., on an owned basis\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 266.40 Td (The amounts of commissions earned on sales of departments licensed to third parties are not material to its net sales for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 254.40 Td (the periods presented.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 230.40 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 230.40 Td (Represents comparable sales on an owned plus licensed basis that incorporates a shift of the company's fiscal 2017 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 218.40 Td (calendar to align with fiscal 2018 on a like-for) Tj ET Q q 0 0 0 rg BT 261.29 218.40 Td (-like basis as a result of the 53) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 382.65 222.93 Td (rd) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.06 218.40 Td ( week in fiscal 2017.) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.00 772.60 Td (12) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 269.75 741.60 Td (MACYS, INC.) Tj ET Q BT /F1 11.00 Tf ET 0 0 0 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 160.6 713.73369140625 m 451.32119140625 713.73369140625 l s q 0 0 0 rg BT 160.60 715.20 Td (Important Information Regarding Non-GAAP) Tj ET Q q 0 0 0 rg BT 362.74 715.20 Td ( Financial Measures) Tj ET Q BT /F1 11.00 Tf ET 0 0 0 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 58 687.33369140625 m 537.509765625 687.33369140625 l s q 0 0 0 rg BT 58.00 688.80 Td (Earnings before Interest, ) Tj ET Q q 0 0 0 rg BT 168.98 688.80 Td (T) Tj ET Q q 0 0 0 rg BT 174.93 688.80 Td (axes, Depreciation and ) Tj ET Q q 0 0 0 rg BT 277.55 688.80 Td (Amortization, Net Income and Diluted Earnings Per Share ) Tj ET Q BT /F1 11.00 Tf ET 0 0 0 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 58 674.13369140625 m 352.01904296875 674.13369140625 l s q 0 0 0 rg BT 58.00 675.60 Td (Attributable to Macy's, Inc. Shareholders, Excluding Certain Items) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 649.20 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 110.15 649.20 Td ( financial measures, excluding certain items below) Tj ET Q q 0 0 0 rg BT 332.10 649.20 Td (, are reconciled to the most directly comparable ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.00 636.00 Td (GAAP) Tj ET Q q 0 0 0 rg BT 87.54 636.00 Td ( measure as follows:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 622.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 622.80 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 133.72 622.80 Td ( and adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 234.23 622.80 Td ( are reconciled to GAAP) Tj ET Q q 0 0 0 rg BT 342.56 622.80 Td ( net income attributable to Macy) Tj ET Q q 0 0 0 rg BT 488.87 622.80 Td (s, Inc. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 609.60 Td (shareholders.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.00 596.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 596.40 Td (Adjusted net income attributable to Macy) Tj ET Q q 0 0 0 rg BT 280.03 596.40 Td (s, Inc. shareholders is reconciled to GAAP) Tj ET Q q 0 0 0 rg BT 467.19 596.40 Td ( net income ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 583.20 Td (attributable to Macy) Tj ET Q q 0 0 0 rg BT 186.25 583.20 Td (s, Inc. shareholders.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 570.00 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 570.00 Td (Adjusted diluted earnings per share attributable to Macy) Tj ET Q q 0 0 0 rg BT 344.79 570.00 Td (s, Inc. shareholders is reconciled to GAAP) Tj ET Q q 0 0 0 rg BT 531.94 570.00 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 94.00 556.80 Td (diluted earnings per share attributable to Macy) Tj ET Q q 0 0 0 rg BT 302.32 556.80 Td (s, Inc.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 58.00 530.40 Td (Adjusted EBITDA) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 489.9 m 425.5 489.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 489.9 m 554.5 489.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 410.9 m 425.5 410.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 410.9 m 554.5 410.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 365.9 m 425.5 365.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 351.9 m 425.5 351.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 349.9 m 425.5 349.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 365.9 m 554.5 365.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 351.9 m 554.5 351.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 349.9 m 554.5 349.9 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.60 509.57 Td (13 ) Tj ET Q q 0 0 0 rg BT 343.01 509.57 Td (W) Tj ET Q q 0 0 0 rg BT 351.96 509.57 Td (eeks Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.60 509.57 Td (14 ) Tj ET Q q 0 0 0 rg BT 472.01 509.57 Td (W) Tj ET Q q 0 0 0 rg BT 480.96 509.57 Td (eeks Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.70 494.57 Td (February 2, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.70 494.57 Td (February 3, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 475.57 Td (Net income attributable to Macy's, Inc. shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.00 475.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 475.57 Td (740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 475.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 475.57 Td (1,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 460.57 Td (Interest expense, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 460.57 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 460.57 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 445.57 Td (Losses \(gains\) on early retirement of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 445.57 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 445.62 Td (\(1) Tj ET Q q 0 0 0 rg BT 545.63 445.62 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 445.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 430.57 Td (Federal, state and local income tax expense \(benefit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 430.57 Td (226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 430.62 Td (\(176) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 430.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 415.57 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 415.57 Td (244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 415.57 Td (250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 400.57 Td (EBITDA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 400.57 Td (1,287) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 400.57 Td (1,483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 385.57 Td (Restructuring, impairment, store closing and other costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 385.57 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 385.57 Td (152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 370.57 Td (Settlement char) Tj ET Q q 0 0 0 rg BT 129.29 370.57 Td (ges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 370.57 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 370.57 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 355.57 Td (Adjusted EBITDA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.00 355.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 355.57 Td (1,399) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 355.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 355.57 Td (1,667) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 301.9 m 425.5 301.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 301.9 m 554.5 301.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 222.89999999999998 m 425.5 222.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 222.89999999999998 m 554.5 222.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 167.89999999999998 m 425.5 167.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 153.89999999999998 m 425.5 153.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 151.89999999999998 m 425.5 151.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 167.89999999999998 m 554.5 167.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 153.89999999999998 m 554.5 153.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 151.89999999999998 m 554.5 151.89999999999998 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.60 321.57 Td (52 ) Tj ET Q q 0 0 0 rg BT 343.01 321.57 Td (W) Tj ET Q q 0 0 0 rg BT 351.96 321.57 Td (eeks Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.60 321.57 Td (53 ) Tj ET Q q 0 0 0 rg BT 472.01 321.57 Td (W) Tj ET Q q 0 0 0 rg BT 480.96 321.57 Td (eeks Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.70 306.57 Td (February 2, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.70 306.57 Td (February 3, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 287.57 Td (Net income attributable to Macy's, Inc. shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.00 287.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 287.57 Td (1,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 287.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 287.57 Td (1,566) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 272.57 Td (Interest expense, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 272.57 Td (236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 272.57 Td (310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 257.57 Td (Losses \(gains\) on early retirement of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 257.57 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 257.62 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 257.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 242.57 Td (Federal, state and local income tax expense \(benefit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 242.57 Td (322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 242.62 Td (\(39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 242.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 227.57 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 227.57 Td (962) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 227.57 Td (991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 212.57 Td (EBITDA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 212.57 Td (2,661) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 212.57 Td (2,818) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 197.57 Td (Restructuring, impairment, store closing and other costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.50 187.57 Td (\(Note 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 187.57 Td (128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 187.57 Td (186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 172.57 Td (Settlement char) Tj ET Q q 0 0 0 rg BT 129.29 172.57 Td (ges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 172.57 Td (88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 172.57 Td (105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 157.57 Td (Adjusted EBITDA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.00 157.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 157.57 Td (2,877) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 157.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 157.57 Td (3,109) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 129.40 Td (Note:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 105.40 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 105.40 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.11 105.40 Td (52 weeks ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.98 105.40 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.48 105.40 Td (February2, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.07 105.40 Td (, the above adjustment excludes impairment, restructuring and other costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 93.40 Td (attributable to the noncontrolling interest shareholder of $8 million.) Tj ET Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.00 772.60 Td (13) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 269.75 741.60 Td (MACYS, INC.) Tj ET Q BT /F1 11.00 Tf ET 0 0 0 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 160.6 713.73369140625 m 451.32119140625 713.73369140625 l s q 0 0 0 rg BT 160.60 715.20 Td (Important Information Regarding Non-GAAP) Tj ET Q q 0 0 0 rg BT 362.74 715.20 Td ( Financial Measures) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 58.00 693.00 Td (Adjusted Net Income and ) Tj ET Q q 0 0 0 rg BT 171.44 693.00 Td (Adjusted Diluted Earnings Per Shar) Tj ET Q q 0 0 0 rg BT 330.52 693.00 Td (e ) Tj ET Q q 0 0 0 rg BT 337.96 693.00 Td (Attributable to Macy's, Inc. Shar) Tj ET Q q 0 0 0 rg BT 481.66 693.00 Td (eholders) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 652.5 m 366.5 652.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 652.5 m 373.5 652.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 652.5 m 422.5 652.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 652.5 m 498.5 652.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 652.5 m 505.5 652.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 652.5 m 554.5 652.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 604.5 m 366.5 604.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 604.5 m 422.5 604.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 604.5 m 498.5 604.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 604.5 m 554.5 604.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 604.5 m 366.5 604.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 604.5 m 422.5 604.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 604.5 m 498.5 604.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 604.5 m 554.5 604.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 508.5 m 366.5 508.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 508.5 m 422.5 508.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 508.5 m 498.5 508.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 508.5 m 554.5 508.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 508.5 m 366.5 508.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 494.5 m 366.5 494.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 492.5 m 366.5 492.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 508.5 m 422.5 508.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 494.5 m 422.5 494.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 492.5 m 422.5 492.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 508.5 m 498.5 508.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 494.5 m 498.5 494.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 492.5 m 498.5 492.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 508.5 m 554.5 508.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 494.5 m 554.5 494.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 492.5 m 554.5 492.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.10 672.17 Td (13 ) Tj ET Q q 0 0 0 rg BT 338.51 672.17 Td (W) Tj ET Q q 0 0 0 rg BT 347.46 672.17 Td (eeks Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.10 672.17 Td (14 ) Tj ET Q q 0 0 0 rg BT 470.51 672.17 Td (W) Tj ET Q q 0 0 0 rg BT 479.46 672.17 Td (eeks Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.20 657.17 Td (February 2, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.20 657.17 Td (February 3, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 639.07 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.20 629.07 Td (Attributable to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.10 619.07 Td (Macy's, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.35 609.07 Td (Shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.50 629.17 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.70 619.17 Td (Earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.20 609.17 Td (Per Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 639.07 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.20 629.07 Td (Attributable to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.10 619.07 Td (Macy's, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.35 609.07 Td (Shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.50 629.17 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.70 619.17 Td (Earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.20 609.17 Td (Per Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 594.17 Td (As reported) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.00 594.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.65 594.17 Td (740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.00 594.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 594.17 Td (2.37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.00 594.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 594.17 Td (1,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 594.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 594.17 Td (4.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 580.07 Td (Restructuring, impairment, store closing and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.50 570.12 Td (costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 573.17 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 573.17 Td (0.31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 573.17 Td (152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 573.17 Td (0.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 558.17 Td (Settlement char) Tj ET Q q 0 0 0 rg BT 129.39 558.17 Td (ges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 558.17 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 558.17 Td (0.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 558.17 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 558.17 Td (0.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 543.17 Td (Losses \(gains\) on early retirement of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 543.17 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 543.17 Td (0.09) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.30 543.22 Td (\(1) Tj ET Q q 0 0 0 rg BT 489.63 543.22 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 543.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.80 543.22 Td (\(0.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 543.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 528.17 Td (Income tax impact of certain items identified above) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.30 528.22 Td (\(30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 528.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.80 528.22 Td (\(0.09) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 528.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.30 528.22 Td (\(60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 528.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.80 528.22 Td (\(0.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 528.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 513.17 Td (Deferred tax ef) Tj ET Q q 0 0 0 rg BT 127.33 513.17 Td (fects of federal tax reform) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 513.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 513.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.30 513.22 Td (\(584) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 513.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.80 513.22 Td (\(1.90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 513.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 498.17 Td (As adjusted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.00 498.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.65 498.17 Td (850) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.00 498.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 498.17 Td (2.73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.00 498.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 498.17 Td (876) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 498.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 498.17 Td (2.85) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 444.5 m 366.5 444.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 444.5 m 373.5 444.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 444.5 m 422.5 444.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 444.5 m 498.5 444.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 444.5 m 505.5 444.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 444.5 m 554.5 444.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 396.5 m 366.5 396.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 396.5 m 422.5 396.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 396.5 m 498.5 396.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 396.5 m 554.5 396.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 396.5 m 366.5 396.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 396.5 m 422.5 396.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 396.5 m 498.5 396.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 298.5 m 366.5 298.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 298.5 m 422.5 298.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 298.5 m 554.5 298.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 298.5 m 366.5 298.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 284.5 m 366.5 284.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 282.5 m 366.5 282.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 298.5 m 422.5 298.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 284.5 m 422.5 284.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 282.5 m 422.5 282.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 298.5 m 498.5 298.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 284.5 m 498.5 284.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 282.5 m 498.5 282.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 298.5 m 554.5 298.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 284.5 m 554.5 284.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 282.5 m 554.5 282.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.10 464.17 Td (52 ) Tj ET Q q 0 0 0 rg BT 338.51 464.17 Td (W) Tj ET Q q 0 0 0 rg BT 347.46 464.17 Td (eeks Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.10 464.17 Td (53 ) Tj ET Q q 0 0 0 rg BT 470.51 464.17 Td (W) Tj ET Q q 0 0 0 rg BT 479.46 464.17 Td (eeks Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.20 449.17 Td (February 2, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.20 449.17 Td (February 3, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 431.07 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.20 421.07 Td (Attributable to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.10 411.07 Td (Macy's, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.35 401.07 Td (Shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.50 421.17 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.70 411.17 Td (Earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.20 401.17 Td (Per Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 431.07 Td (Net Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.20 421.07 Td (Attributable to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.10 411.07 Td (Macy's, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.35 401.07 Td (Shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.50 421.17 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.70 411.17 Td (Earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.20 401.17 Td (Per Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 386.17 Td (As reported) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.00 386.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 386.17 Td (1,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.00 386.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 386.17 Td (3.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.00 386.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 386.17 Td (1,566) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 386.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 386.17 Td (5.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 372.07 Td (Restructuring, impairment, store closing and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.50 362.07 Td (costs \(Note 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.65 363.17 Td (128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 363.17 Td (0.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 363.17 Td (186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 363.17 Td (0.61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 348.17 Td (Settlement char) Tj ET Q q 0 0 0 rg BT 129.39 348.17 Td (ges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 348.17 Td (88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 348.17 Td (0.28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 348.17 Td (105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 348.17 Td (0.34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 333.17 Td (Losses \(gains\) on early retirement of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 333.17 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 333.17 Td (0.1) Tj ET Q q 0 0 0 rg BT 413.65 333.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.30 333.22 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 333.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.80 333.22 Td (\(0.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 333.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 318.17 Td (Income tax impact of certain items identified above) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.30 318.22 Td (\(56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 318.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.80 318.22 Td (\(0.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 318.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.30 318.22 Td (\(101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 318.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.80 318.22 Td (\(0.33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 318.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 303.17 Td (Deferred tax ef) Tj ET Q q 0 0 0 rg BT 127.33 303.17 Td (fects of federal tax reform) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 303.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 303.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.30 303.22 Td (\(584) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 303.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.80 303.22 Td (\(1.90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 303.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 288.17 Td (As adjusted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.00 288.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 288.17 Td (1,301) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.00 288.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 288.17 Td (4.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.00 288.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 288.17 Td (1,162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 288.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.15 288.17 Td (3.79) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 260.00 Td (Note:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 236.00 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 236.00 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.11 236.00 Td (52 weeks ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.98 236.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.48 236.00 Td (February2, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.07 236.00 Td (, the above pre-tax adjustment excludes impairment, restructuring and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 224.00 Td (costs attributable to the noncontrolling interest shareholder of $8 million.) 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