NEW YORK - Macy's has announced the launch of Mode of One, a contemporary menswear brand aimed at individuals who view fashion as a personal statement. The collection, which includes a variety of high-quality essentials and bold designs, is now available online, through the Macy's mobile app, and in stores across the United States.
Emily Erusha-Hilleque, Senior Vice President and Head of Private Brands at Macy's, expressed the brand's dedication to offering modern menswear that honors the uniqueness of today's man. The development of Mode of One was a two-year process heavily influenced by customer feedback and current men's fashion trends. The brand draws inspiration from various cultural domains, including street style, art, sports, music, technology, and entertainment.
For the inaugural collection, Macy's collaborated with graphic designer Tyrell Waiters and stylist Ouigi Theodore, founder of The Brooklyn Circus. The collection features diverse fits and silhouettes to cater to a range of occasions, allowing customers to make bold fashion statements with pieces that emphasize comfort and low maintenance.
Mode of One's launch is supported by a social-first campaign featuring New York Knicks players Jalen Brunson and Josh Hart as brand ambassadors, reflecting the brand's values of determination, style, and authenticity. Additional social content for the launch is being created by Atlanta-based barber VicBlends and New York City-based chef, author, and restaurateur Kwame Onwuachi.
The collection boasts over 140 SKUs, with prices ranging from $24.50 to $159.50 and sizes from S-XXL and 30-40 in waist measurements. Mode of One plans to release new items monthly starting in October, continuing through the holiday season.
Mode of One is part of Macy's strategy to reimagine its private brand offerings and reinforce its position in contemporary menswear. The introduction of this brand aligns with Macy's mission to provide a seamless and convenient shopping experience for its customers, whether online, via the mobile app, or in physical stores.
This initiative is based on a press release statement.
In other recent news, Macy's Inc. (NYSE:M) has made several noteworthy moves. The company initiated a tender offer to repurchase up to $220 million of its outstanding notes, a move supported by Wells Fargo (NYSE:WFC) Securities, BofA Securities, US Bancorp (NYSE:USB), and UBS Investment Bank. Macy's also announced a regular quarterly dividend of 17.37 cents per share, continuing its practice of providing returns to investors.
In the second quarter of 2024, Macy's reported mixed financial results. While the company experienced a 1% comp sales gain at top-performing stores and a strong gross margin expansion, it also faced a 3.8% decline in net sales and a 3.3% decline in overall comps. Luxury segments, Bloomingdale's and Bluemercury, reported better-than-expected sales.
Macy's plans to close approximately 55 stores this year, shifting focus towards more profitable locations. The company's full-year net sales are expected to range between $22.1 billion and $22.4 billion, with adjusted diluted EPS for the third quarter projected to range from a loss of $0.04 to earnings of $0.01. As part of its future developments, Macy's intends to open 100 more stores in the shoe and handbag categories, reflecting the company's strategy for sustainable, profitable growth amidst current retail challenges.
InvestingPro Insights
As Macy's launches its new contemporary menswear line, Mode of One, the company's financial health and market performance remain key factors for investors to consider. According to real-time data from InvestingPro, Macy's Market Cap stands at $4.06 billion, reflecting the company's substantial presence in the retail sector. Despite recent market volatility, Macy's has maintained dividend payments for an impressive 22 consecutive years, showcasing its commitment to returning value to shareholders. The current dividend yield is a robust 4.75%, as of the last dividend date in June 2024.
InvestingPro Tips highlight that Macy's is a prominent player in the Broadline Retail industry, which may provide a competitive edge as it introduces new brands like Mode of One. Additionally, the company is expected to remain profitable this year, as analysts predict positive net income growth. This financial stability could support the ongoing development and marketing of new collections. Interested investors can find more detailed analysis and additional InvestingPro Tips at: https://www.investing.com/pro/M.
With the stock price experiencing significant fluctuations over the past six months, dropping by 28.68%, and the price currently sitting at 66.15% of its 52-week high, investors may find an opportunity to engage with Macy’s stock at a potentially undervalued price. The company's P/E Ratio is currently 21.9, with adjusted figures from the last twelve months as of Q2 2025 showing a lower P/E Ratio of 4.28, suggesting that the stock could be more affordable relative to its earnings.
For those seeking more in-depth investment advice, InvestingPro offers a total of 9 additional tips for Macy's, providing insights into the company's financial metrics and stock performance. These tips and data points can help both current and prospective investors make informed decisions about their involvement with Macy's, especially as the company embarks on new fashion ventures like Mode of One.
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