梅西百货Macy's, Inc.（M） 2025财年年度报告「NYSE」（英文版）（92页）.pdf

1、Annual Report2025TONY SPRINGChairman and Chief Executive OfficerFiscal Year 2025 Financial Highlights$21.8BNet Sales+1.5%Macys,Inc.Comparable Sales138%Gross Margin as a Percent of Net Sales$1.4BOperating Cash Flow$1.2BEnding Cash and Cash Equivalents$642MNet IncomeTo Our ShareholdersFiscal 2025 was

2、a year of momentum and resilience for Macys,Inc.Our Bold New Chapter strategy continued to gain traction as we navigated tariff headwinds,a dynamic retail environment,and other unexpected macro pressures on the consumer.Despitethese challenges,we accelerated and scaled our initiatives,strengthening

3、our foundation for sustainable,profitable growth.Iamencouraged by the progress and grateful to our teams for staying focused,adaptable,and deeply committed to creating value.Bold New Chapter Momentum and ImpactAlongside our partners,our teams have worked tirelessly to bring the Bold New Chapter stra

4、tegy to life in its second year.Ourrecent results give us confidence that our operational and financial improvements are driving a healthier business.In 2025,Macys,Inc.delivered$21.8billion in net sales and returned to positive annual comparable sales growth of 1.5%.Our disciplined execution contrib

5、uted to GAAP diluted earnings per share of$2.32.Wemaintained a solid balance sheet,generating$1.4billion of operating cash flow and ending the year with$1.2billion of cash and cash equivalents.Our performance enabled us to extend our track record of returning cash to shareholders,including$197 milli

6、on through cash dividends and$251million in share repurchases.Since reinstating our regular dividend in 2021,we have raised the annual payout by approximately 27%.We are strengthening customer connections across Macys,Bloomingdales,and Bluemercury by focusing on the fundamentalsdelivering relevant p