<SEC-DOCUMENT>0001104659-24-030558.txt : 20240304
<SEC-HEADER>0001104659-24-030558.hdr.sgml : 20240304
<ACCEPTANCE-DATETIME>20240304172815
ACCESSION NUMBER:		0001104659-24-030558
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240304
DATE AS OF CHANGE:		20240304

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Macy's, Inc.
		CENTRAL INDEX KEY:			0000794367
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-DEPARTMENT STORES [5311]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				133324058
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0203

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13536
		FILM NUMBER:		24716227

	BUSINESS ADDRESS:	
		STREET 1:		151 WEST 34TH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001
		BUSINESS PHONE:		5135797585

	MAIL ADDRESS:	
		STREET 1:		151 WEST 34TH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FEDERATED DEPARTMENT STORES INC /DE/
		DATE OF NAME CHANGE:	19950307

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	R H MACY & CO INC
		DATE OF NAME CHANGE:	19950307

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MACY ACQUIRING CORP
		DATE OF NAME CHANGE:	19861124
</SEC-HEADER>
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<DESCRIPTION>DEFA14A
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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>UNITED
STATES<BR>
</B></FONT><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proxy
Statement Pursuant to Section&nbsp;14(a)&nbsp;of</B></FONT><B><BR>
the Securities Exchange Act of 1934 (Amendment No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
by the Registrant&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
by a Party other than the Registrant</FONT>&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Preliminary Proxy Statement</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><B>Confidential,
for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Definitive Proxy Statement</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Definitive Additional Materials</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD><TD STYLE="text-align: justify">Soliciting
Material under &sect;240.14a-12</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Macy&rsquo;s,&nbsp;Inc.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Registrant as Specified in Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">(Name of Person(s)&nbsp;Filing Proxy Statement, if other than the
Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment of Filing Fee (Check the appropriate box):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD><TD STYLE="text-align: justify">No
fee required.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Fee paid previously with preliminary materials.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Fee computed on table in exhibit required by Item 25(b)&nbsp;per
Exchange Act Rules&nbsp;14a6(i)(1)&nbsp;and 0-11.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Macy&rsquo;s,&nbsp;Inc.
Confirms Receipt of Revised, Unsolicited, Non-Binding Proposal from Arkhouse and Brigade</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Reiterates Board and Management&rsquo;s Commitment
to Long-Term Value Creation</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NEW YORK &ndash; March&nbsp;3, 2024 &ndash; Macy&rsquo;s,&nbsp;Inc.
(NYSE: M) today confirmed that it has received a revised, unsolicited, non-binding proposal from Arkhouse Management Co. LP (&ldquo;Arkhouse&rdquo;)
and Brigade Capital Management, LP (&ldquo;Brigade&rdquo;) to acquire all of the outstanding shares of the Company for $24.00 per share
in cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Macy&rsquo;s,&nbsp;Inc. Board will carefully review and evaluate
the latest proposal consistent with the Board&rsquo;s fiduciary duties and in consultation with its financial and legal advisors. The
Macy&rsquo;s,&nbsp;Inc. Board has a proven track record of evaluating a broad range of options to create shareholder value, is open-minded
about the best path to achieve this objective and is committed to continuing to take actions that it believes are in the best interests
of the Company and all Macy&rsquo;s,&nbsp;Inc. shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Macy&rsquo;s,&nbsp;Inc. does not intend to comment further on Arkhouse
and Brigade&rsquo;s revised, unsolicited non-binding proposal until the Board has completed its review. Macy&rsquo;s,&nbsp;Inc. shareholders
do not need to take any action at this time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bank of America Securities and Wells Fargo are acting as financial
advisors and Wachtell, Lipton, Rosen&nbsp;&amp; Katz is acting as legal advisor to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Macy&rsquo;s,&nbsp;Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Macy&rsquo;s,&nbsp;Inc. (NYSE: M) is a trusted source for quality brands
through our iconic nameplates &ndash; Macy&rsquo;s, Bloomingdale&rsquo;s and Bluemercury. Headquartered in New York City, our comprehensive
digital and nationwide footprint empowers us to deliver a seamless shopping experience for our customers. For more information, visit
macysinc.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All statements in this press release that are not statements of historical
fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based
upon the current beliefs and expectations of Macy&rsquo;s management and are subject to significant risks and uncertainties. Actual results
could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety
of factors, including Macy&rsquo;s ability to successfully execute against its five growth vectors, including the ability to realize the
anticipated benefits associated with the strategy, conditions to, or changes in the timing of proposed real estate and other transactions,
prevailing interest rates and non-recurring charges, the effect of potential changes to trade policies, store closings, competitive pressures
from specialty stores, general merchandise stores, off-price and discount stores, manufacturers&rsquo; outlets, the Internet and catalogs
and general consumer spending levels, including the impact of the availability and level of consumer debt, possible systems failures and/or
security breaches, the potential for the incurrence of charges in connection with the impairment of intangible assets, including goodwill,
declines in credit card revenues, Macy&rsquo;s reliance on foreign sources of production, including risks related to the disruption of
imports by labor disputes, regional or global health pandemics, and regional political and economic conditions, the effect of weather,
inflation, inventory shortage, labor shortages, the amount and timing of future dividends and share repurchases, our ability to execute
on our strategies and achieve expectations related to environmental, social, and governance matters, and other factors identified in documents
filed by the company with the Securities and Exchange Commission, including under the captions &ldquo;Forward-Looking Statements&rdquo;
and &ldquo;Risk Factors&rdquo; in the company&rsquo;s Annual Report on Form&nbsp;10-K for the year ended January&nbsp;28, 2023. Macy&rsquo;s
disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Important Additional Information Regarding Proxy Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Macy&rsquo;s intends to file a proxy statement and WHITE proxy card
with the SEC in connection with the solicitation of proxies for the Company&rsquo;s 2024 Annual Meeting of Shareholders (the &ldquo;Proxy
Statement&rdquo; and such meeting the &ldquo;2024 Annual Meeting&rdquo;). Macy&rsquo;s, its directors and certain of its executive officers
will be participants in the solicitation of proxies from shareholders in respect of the 2024 Annual Meeting. Information regarding the
names of Macy&rsquo;s directors and executive officers and their respective interests in Macy&rsquo;s by security holdings or otherwise
is set forth in the Company&rsquo;s proxy statement for the 2023 Annual Meeting of Shareholders, filed with the Securities and Exchange Commission on April&nbsp;3, 2023 (the &ldquo;2023 Proxy Statement&rdquo;) and available at <A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/794367/000155837023005400/m-20230519xdef14a.htm" STYLE="-sec-extract: exhibit">https://www.sec.gov/ix?doc=/Archives/edgar/data/794367/000155837023005400/m-20230519xdef14a.htm</A>.
Please refer to the sections captioned &ldquo;Stock Ownership,&rdquo; &ldquo;Fiscal 2022 Non-Employee Director Compensation Table&rdquo;
and &ldquo;Compensation of the Named Executive Officers in 2022&rdquo; in the 2023 Proxy Statement. To the extent holdings of such participants
in Macy&rsquo;s securities have changed since the amounts described in the 2023 Proxy Statement, such changes have been reflected on Initial
Statements of Beneficial Ownership on Form&nbsp;3 or Statements of Change in Ownership on Form&nbsp;4 filed with the SEC. Additional information
can also be found in Macy&rsquo;s Annual Report on Form&nbsp;10-K for the year ended January&nbsp;28, 2023, filed with the SEC on March&nbsp;24, 2023 and available at <A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/794367/000162828023009154/m-20230128.htm" STYLE="-sec-extract: exhibit">https://www.sec.gov/ix?doc=/Archives/edgar/data/794367/000162828023009154/m-20230128.htm</A>. Details concerning the
nominees of the Macy&rsquo;s Board of Directors for election at the 2024 Annual Meeting will be included in the Proxy Statement. BEFORE
MAKING ANY VOTING DECISION,&nbsp;INVESTORS AND STOCKHOLDERS OF MACY&rsquo;S ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED
TO THE SEC,&nbsp;INCLUDING MACY&rsquo;S DEFINITIVE PROXY STATEMENT AND ANY AMENDMENTS AND SUPPLEMENTS THERETO BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION. These documents, including the definitive Proxy Statement (and any amendments or supplements thereto) and other
documents filed by Macy&rsquo;s with the SEC, are available for no charge at the SEC&rsquo;s website at http://www.sec.gov and at Macy&rsquo;s
investor relations website at https://macysinc.com/investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Contacts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Media &ndash; Chris Grams</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">communications@macys.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Leigh Parrish / Arielle Rothstein</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">lparrish@joelefrank.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">arothstein@joelefrank.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(212) 355-4449</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investors &ndash; Pamela Quintiliano</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">investors@macys.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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