William Lenehan Joins Macy’s, Inc. Board of Directors

CINCINNATI–(BUSINESS WIRE)–William H. Lenehan, president and chief executive officer of Four
Corners Property Trust, Inc., has been elected to the Macy’s, Inc.
(NYSE:M) Board of Directors, effective April 1, 2016.

Lenehan, 39, has extensive knowledge and experience in real estate
development and management. He was named president and chief executive
officer of Four Corners, a publicly traded investment trust focused on
foodservice real estate, in August 2015. Previously, he served as
special advisor to the board of EVOQ Properties, Inc., owner of a
substantial portfolio of development assets in downtown Los Angeles;
interim CEO of MI Development (now known as Granite Real Estate
Investment Trust), a real estate operating company; and investment
professional in the real estate group of Farallon Capital Management
LLC, a global asset management firm.

“Bill will contribute to our board’s expertise and working knowledge on
matters related to real estate, an important area of activity as we work
to create shareholder value through joint ventures or other partnerships
related to Macy’s flagship stores and mall properties,” said Terry J.
Lundgren, chairman and chief executive officer of Macy’s, Inc. “Bill’s
perspective is rooted in his real estate experience in a variety of
industry sectors, including net lease, restaurants, mall, office,
residential, and mixed-use.”

Lenehan is a graduate of Claremont McKenna College.

The election of Lenehan and that of Frank Blake in November 2015
increases the size of the Macy’s, Inc. board to 15 members. Two board
members, Meyer Feldberg and Joseph Neubauer, are scheduled to retire at
the Macy’s, Inc. Annual Meeting of Shareholders on May 20, 2016.

Macy’s, Inc., with corporate offices in Cincinnati and New York, is one
of the nation’s premier retailers, with fiscal 2015 sales of $27.079
billion. The company operates about 870 stores in 45 states, the
District of Columbia, Guam and Puerto Rico under the names of Macy’s,
Bloomingdale’s, Bloomingdale’s Outlet, Macy’s Backstage and Bluemercury,
as well as the macys.com, bloomingdales.com and bluemercury.com
websites. 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.

(NOTE: Additional information on Macy’s, Inc., including past news
releases, is available at www.macysinc.com/pressroom)

Contacts

Macy’s, Inc.
Media – Jim Sluzewski, 513-579-7764
Investor –
Matt Stautberg, 513-579-7780