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Macy’s Reaches Agreement With New York State Attorney General On Racial Profiling Allegations

Stocks in this article: M

Macy’s, Inc. (NYSE:M) today issued the following statement:

“Macy's has reached resolution with the New York State Office of the Attorney General related to allegations of racial profiling in our stores in New York. We also have settled in principle various lawsuits related to these allegations.

"To be clear, our company's policies strictly prohibit any form of discrimination or racial profiling and any occurrence of such behavior will not be tolerated in our organization.

“Moving forward, our company will be initiating a series of measures including enhanced training and education for our loss prevention and sales associates. We also will be adopting an expanded role for our security monitor to help ensure that we have the right policies and procedures in place, and that we are constantly reviewing our compliance with them.

“We at Macy’s are committed to fulfilling to the ideals of diversity, inclusion and respect that our company aspires to achieve – every day, in every store and office, with every customer and associate.

“Serving customers is what we are all about, and we will continue to work tirelessly to ensure that all customers feel welcome at Macy’s and are treated with respect. Our company has a long tradition of setting the gold standard in how we operate. We were among the first retail companies to establish a strong position on diversity and inclusion. We have a proven track record of reflecting the diverse communities we serve in every aspect of our business – including hiring, associate development, purchasing, community support, visual presentation and advertising. Our plans for moving forward further reinforce that commitment.”

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 operates 13 Bloomingdale’s Outlet stores. 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.

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