The affected frying pans are part of the Martha Stewart Collection 10-piece Stainless Steel Cookware set, according to the Consumer Product Safety Commission.
The cooking sets were sold by Macy's for roughly $170 apiece from January 2011 to September 2015.
"The recall was voluntary based on information provided by Macy's to the CPSC as a precaution for the safety of our customers," Macy's spokesman Jim Sluzewski told CNBC. "We have cooperated fully with the CPSC and are prepared to serve customers who return the recalled pans for refund or replacement."
Consumers who purchased the frying pans should return them to Macy's for a store credit equal to the pans' value.
Shares of the department store chain are gaining 0.45% to $35.66 in afternoon trading on Tuesday.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate MACY'S INC as a Hold with a ratings score of C. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its notable return on equity, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and weak operating cash flow.
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Multiline Retail industry and the overall market, MACY'S INC's return on equity significantly exceeds that of both the industry average and the S&P 500.
- 39.79% is the gross profit margin for MACY'S INC which we consider to be strong. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of 2.00% trails the industry average.
- The debt-to-equity ratio is very high at 2.01 and currently higher than the industry average, implying increased risk associated with the management of debt levels within the company. Along with this, the company manages to maintain a quick ratio of 0.09, which clearly demonstrates the inability to cover short-term cash needs.
- Net operating cash flow has significantly decreased to -$120.00 million or 191.60% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
- You can view the full analysis from the report here: M