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macy's inc Macy's , Inc. Reports Second Quarter 2021 Results , Raises Guidance and Announces Plan to Return Capital to Shareholders Comparable sales up 61.2 % on an owned basis and up 62.2 % on an owned - plus - licensed basis versus 2020 ; up 5.8 % and up 5.9 % , respectively , versus 2019 Diluted EPS of $ 1.08 and Adjusted diluted EPS of $ 1.29 Raises full - year and back - half guidance on both the top and bottom lines Reinstates dividend and authorizes share repurchase program Performance reflects continued execution of Polaris strategy coupled with the macroeconomic recovery NEW YORK - August 19 , 2021-- Macy's , Inc. ( NYSE : M ) today reported results for the second quarter of 2021 , raised guidance for fiscal 2021 and announced plans to return capital to shareholders . " Second quarter results were strong across all three nameplates and surpassed our expectations . Our momentum in the first quarter accelerated in the second quarter as we successfully reengaged core customers and attracted new , younger customers with new brands and categories , " said Jeff Gennette , chairman and chief executive officer of Macy's , Inc. " Through the Macy's , Inc. portfolio and our omnichannel approach , we provide a compelling , seamless integration between physical stores and digital shopping to most effectively meet the needs of our customers . " " The Polaris strategy is working . We have meaningfully improved the fundamentals and overall health of our business , and we are well underway building a stronger Macy's , Inc. for the future , " Gennette continued . Enhancing Shareholder Value Macy's , Inc. ended the second quarter with approximately $ 2.1 billion in cash , allowing the company to execute on its two priorities of investing in profitable growth , while de - levering the balance sheet . The strong cash position will also allow the company to return capital to shareholders through the following actions : ● The company is reinstating its regular quarterly dividend at 15 cents per share on Macy's , Inc.'s common stock , resulting in an annual return of cash to shareholders of nearly $ 200 million . O The dividend is payable on October 1 , to shareholders of record at the close of business on September 15 . The company's board of directors has authorized a $ 500 million share repurchase program . Additionally , as previously announce the company voluntarily repaid $ 1.3 billion in Senior Secured Notes on August 17 , 2021. With this action , Macy's , Inc. now expects to exceed its target leverage ratio and achieve a ratio of no more than 2.5x by the end of fiscal 2021 .