Macy’s, Inc. (NYSE: M), one of the leading U.S department store retailers, hiked its share repurchase program by $ 1.5 billion, amounting the whole authorisation outstanding to $1.861 billion.

Through the first 9 months of the current year Macy’s, Inc. (NYSE: M) bought back 26.3 million shares aggregating a sum of amount $361 million. Till 27th Oct 2012, the company had a remaining share repurchase authorisation of approximately $361 million.

The Investors and share repurchases:

Macy’s, Inc. (NYSE: M) buy back 42.6 million shares aggregating a total investment of $1.491 billion.

In order to increase its potential and investment grade rating in the market the company is trying hard to maintain a healthy balance sheet and credit ratio. It ploughs back its profit by returning them to the investors by the way of increased dividend and share repurchases.

This act of the company reflects its positive outlook and confidence in its fundamental. It shows the long-term feasibility of the company and helps in getting public confidence. With a boom to the shareholders fund it gives rise to the market value of the stock.

The innovative approach:

Macy’s, Inc. (NYSE: M) always engaged in innovation of some new ways to enhance its sales, incoming revenue from cash flow and profitability. Now steps are taken towards integration of operations, developing e-commerce business and online order fulfilment centres.

As the company wanted to be customer oriented involved in some customer oriented programs named “My Macy”, which intend in improving comparable-store sales as well as reducing operating cost without sacrificing the quality of its output. It emphasises on the need and requirement of its customers.

Macy’s, Inc. (NYSE: M)’s main competitors in this field are Dillard’s, Inc. (NYSE: DDS), J.C. Penney Company, Inc. (NYSE: JCP) and Saks Inc (NYSE: SKS). In spite of a cut throat competition the company managed to operate approximately 840 department stores in 45 states, the District of Columbia, Guam and Puerto Rico.