Macy’s and Best Buy Partner to Test Consumer Electronics Departments in Macy’s Stores

CINCINNATI–(BUSINESS WIRE)–Macy’s, Inc. (NYSE:M) today announced it has signed an agreement with
Best Buy to test licensed consumer electronics departments in 10 Macy’s
stores to open in early November 2015.

Plans call for Best Buy licensed shops of about 300 square feet to open
in Macy’s stores in various markets throughout the U.S.

The space will be staffed by Best Buy employees and feature Samsung
smartphones, tablets and smart watches, as well as audio devices
(including Bluetooth speakers and headphones) and accessories (including
cases, chargers and other peripherals) from Samsung and other brands.

“We are delighted that consumer electronics will be returning to
selected Macy’s stores through this test, which will allow us to learn
how we can best serve our customers’ needs in this very sophisticated
category. Our customers have expressed interest in electronics for
self-purchase and gift-giving, and this collaboration with Best Buy
reinforces Macy’s as a shopping destination throughout the year for the
products that are most in demand,” said Macy’s, Inc. President Jeff
Gennette. “We will test and learn, along with Best Buy, through the
holidays and into 2016 before deciding on next steps.”

Macy’s, Inc., with corporate offices in Cincinnati and New York, is one
of the nation’s premier retailers, with fiscal 2014 sales of $28.105
billion. The company operates about 885 stores in 45 states, the
District of Columbia, Guam and Puerto Rico under the names of Macy’s,
Bloomingdale’s, Bloomingdale’s Outlet and Bluemercury, as well as the
macys.com, bloomingdales.com and bluemercury.com websites.
Bloomingdale’s in Dubai is operated by Al Tayer Group LLC under a
license agreement.

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’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 conditions to, or changes in the timing
of, proposed transactions, prevailing interest rates and non-recurring
charges, competitive pressures from specialty stores, general
merchandise stores, off-price and discount stores, manufacturers’
outlets, the Internet, mail-order catalogs and television shopping and
general consumer spending levels, including the impact of the
availability and level of consumer debt, the effect of weather and other
factors identified in documents filed by the company with the Securities
and Exchange Commission. In light of these risks and uncertainties,
readers are cautioned not to place undue reliance on forward-looking
statements. Except as may be required by applicable law, Macy’s
disclaims any obligation to update its forward-looking statements for
any reason.

(NOTE: Additional information on Macy’s, Inc., including past news
releases, is available at www.macysinc.com/pressroom).

Contacts

Macy’s, Inc.
Media – Jim Sluzewski, 513-579-7764
or
Investor
– Matt Stautberg, 513-579-7780