This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Macy’s, Inc. Reports New Steps To Enhance Sustainability

Stocks in this article: M

Macy’s, Inc. (NYSE:M) today reported a series of new initiatives in its multi-year strategic program to enhance environmental sustainability. They are consistent with the company’s sustainability principles first adopted in 2008 and implemented with increasing intensity over the past six years. Results through 2013 include a 38 percent reduction in the company’s electricity usage since 2002 and a 95 percent adoption rate of recycled or certified paper used in the company’s marketing materials.

“We have come a long way in making our company more efficient, less wasteful and greener –which is important to our customers, associates, shareholders and communities,” said Amy Hanson, the Macy’s, Inc. executive vice president who oversees sustainability activities. “In all, we have already implemented more than 100 new sustainability ideas over the past six years. But the more we do, the more we learn about opportunities for further improvement. We are more committed today than ever to pursuing new advances in sustainability and finding pragmatic steps we can take to become responsible stewards of our environment while also engaging our workforce and reducing costs.”

New and enhanced elements of sustainability at Macy’s, Inc. in 2014 include:

  • Collaborating with Volta Industries to install 17 new free-to-operate electric vehicle (EV) charging stations outside eight Macy’s stores in the Los Angeles area by late fall 2014. Planned locations include Del Amo Fashion Center in Torrance, Los Cerritos Center, Montebello Town Center, Montclair Plaza, Pasadena, Sherman Oaks Fashion Square, Simi Valley Town Center and The Oaks in Thousand Oaks. This installation will bring to 33 the number of EV charging stations available to customers at Macy's store locations in southern California. In 2011, Macy’s became the first major department store to pilot the use of EV charging stations when it forged an agreement to install 16 charging stations outside five Macy’s stores and one Bloomingdale’s store in the San Diego area which are currently being operated as part of the Blink Network. Collectively, these charging stations provide an added convenience to EV drivers and help promote the reduction of fuel consumption and the transition to clean, renewable energy.
  • Entered a new phase of its industry-leading program to install energy-saving LED light bulbs in stores nationwide. The company has already installed more than 1.1 million LED bulbs in more than 800 Macy’s and Bloomingdale’s stores across America, cutting energy consumption used in lighting by up to 73 percent compared with conventional bulbs replaced. In 2014, LED technology is being extended to begin replacing fluorescent fixtures in store locations.
  • Planning and developing 20 additional solar power arrays to be installed on the roofs of stores and distribution centers in California, Connecticut, Massachusetts, New York and other states in 2014 and 2015. At year-end 2013, solar energy was being generated on 55 active installations at Macy’s and Bloomingdale’s facilities.
  • Macy’s Private Brands – the company’s product development organization – has joined the Sustainable Apparel Coalition, a trade organization working to reduce the environmental and social impacts of apparel and footwear products around the world. SAC is comprised of brands, retailers, manufacturers, government, and non-governmental organizations and academic experts, representing more than a third of the global apparel and footwear market.
  • Reducing waste in the merchandise supply chain by standardizing the size of packing cartons, incorporating recycled polyester fibers in many woven garment labels, minimizing packaging materials and adopting paper hangtags made from FSC-certified paper. Work on packaging reduction is being researched and piloted in Macy’s Private Brands, with plans to collaborate with market merchandise vendors in the months ahead.
  • Setting new and higher goals to increase customer adoption of electronic (paperless) billing statements and electronic bill payment. In 2013 alone, nearly 18 percent of Macy’s and Bloomingdale’s customers opted for paperless statements, saving about 745,000 pounds of paper.
  • Driving adoption of digital receipts, which are available in all Macy’s stores nationwide. When making a purchase, customers can choose to have a copy of their receipt emailed to them, thus eliminating the unnecessary use of paper receipts. Digital receipts are a convenience for many customers and support the company’s sustainability objective of reducing the use of paper in its business operations. In 2013, about 6 percent of all store transactions were paperless.
  • This spring, Macy’s raised awareness and more than $700,000 for community parks, recreation and conservation across America in collaboration with the National Recreation and Park Association through a program called Macy’s Heart Your Park. Macy’s stores nationwide each selected a local park or green space in their community to support, with more than 550 local parks benefiting from the program. Macy’s contributed $250,000 in matching to customer donations made at Macy’s stores.

Macy’s, Inc., with corporate offices in Cincinnati and New York, is one of the nation’s premier retailers, with fiscal 2013 sales of $27.931 billion. The company operates about 840 stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy’s and Bloomingdale’s, as well as the macys.com and bloomingdales.com websites. The company also operates 13 Bloomingdale’s Outlet stores. Bloomingdale’s in Dubai is operated by Al Tayer Group LLC under a license agreement.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,725.72 +264.40 1.61%
S&P 500 1,954.58 +27.47 1.43%
NASDAQ 4,456.2810 +73.4340 1.68%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs