Jan 09, 2023 / 02:00PM GMT
Oliver Chen - Cowen and Company, LLC, Research Division - MD & Senior Equity Research Analyst
Hi, everybody. We're thrilled to have Macy's here. At Cowen, Macy's is one of our top department store ideas. We have a price target of $27 on 6x, 22% ETR. I'm Oliver Chen. Thanks for joining us. Cowen's retail, new platforms and luxury analysts. We're thrilled to be hosting Macy's CEO, Jeff Gennette, alongside Macy's CFO, Adrian Mitchell. Macy's operates the Macy's banner as well as Bloomingdale's and Bluemercury, a next-gen beauty retailer.
And last year, the company reported over $24 billion in sales across banners and operate 700 stores across the U.S. We're excited to share the stage with Jeff and Adrian. It's their first time at ICR and modernizing Macy's and a new platform, rethinking inventory management and artificial intelligence personalization. These are all great aspects of the story. So we'll kick it off with a few questions and I'll turn it to Jeff, who will have some prepared remarks now. Thanks, Jeff.
Jeffrey Gennette - Macy's -
Macy's Inc at ICR Conference Transcript
Feb 10, 2024
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