The department store chain, which last week said it planned to save as much as $550 million a year through more targeted discounting, said it was launching a year-long program "designed to strengthen leadership skills for a selected group of top-talent managers and directors of Black/African-American, Hispanic-Latinx, Native American and Asian descent."
"At Macy's, diversity and inclusion are essential to our culture and core values," said Jeff Gennette, chairman and chief executive of Macy's, in a statement. "Our mission is to embed D&I into how we think, act and operate."
The Cincinnati retailer also said that by 2020 it would require half of all models in its ads to represent "gender/gender identity, ethnicity, age, size and differently abled subjects."
Macy's also says it will push to increase diversity among the "stylists, photographers, directors, producers, agencies, content providers and event partners" it hires for its advertising and marketing campaigns.
In addition, Macy's said it had updated its Customer Bill of Rights to declare that "discrimination, unreasonable searches and profiling will not be tolerated" while also informing customers how they can lodge complaints.
Macy's shares were trading 3.1% higher at $16.68.