梅西百货 2025年度报告

(Mark One): Or [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the transition period fromto Full title of the plan and the address of the plan, if different from that of the issuer named below: Macy's, Inc. 401(k) Retirement Investment Plan B.Name of issuer of the securities held pursuant to the plan and the address of its principal executiveoffice: Macy's, Inc.151 West 34th StreetNew York, New York 10001 SIGNA Pursuant to the requirements of the Securities Exchange Act of 1934, the members of the Pension and ProfitSharing Committee (which is the administrative committee for the Macy's, Inc. 401(k) Retirement InvestmentPlan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly Dated: June26, 2026 Sandeep Singh, ChairpersonPension and Profit Sharing Committee REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Plan Participants and Pension and Profit Sharing CommitteeMacy's, Inc. 401(k) Retirement Investment Plan Opinion on the Financial Statements We have audited the accompanying statements of net assets available for benefits of the Macy's, Inc. 401(k)Retirement Investment Plan (the Plan) as of December31, 2025 and 2024, and the related statements of changesin net assets available for benefits for the years ended December31, 2025 and 2024, and the related notes andschedule (collectively referred to as the financial statements). In our opinion, the financial statements presentfairly, in all material respects, the net assets available for benefits of the Plan as of December31, 2025 and Basis for Opinion These financial statements are the responsibility of the Plan’s management. Our responsibility is to express anopinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered withthe Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independentwith respect to the Plan in accordance with the U.S. federal securities laws and applicable rules and regulations We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we planand perform the audits to obtain reasonable assurance about whether the financial statements are free of materialmisstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform,an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an Our audits included performing procedures to assess the risks of material misstatement of the financialstatements, whether due to error or fraud, and performing procedures that respond to those risks. Suchprocedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financialstatements. Our audits also included evaluating the accounting principles used and significant estimates madeby management, as well as evaluating the overall presentation of the financial statements. We believe that our SupplementalInformation The supplemental information contained in the schedule of assets held at end of year as of December31, 2025,has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financialstatements. The supplemental information is the responsibility of the Plan’s management. Our audit proceduresincluded determining whether the supplemental information reconciles to the financial statements or theunderlying accounting and other records, as applicable, and performing procedures to test the completeness and /s/ Clark, Schaefer, Hackett & Co. We have served as the Plan’s auditor since 2016. Cincinnati, OhioJune26, 2026 Statements of Changes in Net Assets Available for BenefitsDecember31, 2025 and 2024(in thousands) 1.Description of the Plan The following brief description of the Macy's, Inc. 401(k) Retirement Investment Plan (the "Plan") isprovided for general information purposes only. Participants should refer to the Plan document for morecomplete information. General The Plan is sponsored and administered by Macy’s, Inc. (“Macy's,” the “Company”, the “PlanAdministrator” or the "Employer"). The Plan is a defined contribution plan and is subject to the provisionsof the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and U.S. tax law.Effective October 1, 2006, the Plan was amended to establish a Macy's Employee Stock Ownership Planwithin the Macy's Stock Fund, under Section 4975(e)(7) of the Internal Revenue Code. This feature allowsmembers with accounts in the Macy's Stock Fund to elect to either reinvest employer dividends into their Eligibility All active employees, unless excluded per the terms of a Collective Bargaining Agreement, are eligible forvoluntary immediate participation in the Plan. After one year of service of at least 1,000 hours and afterreaching a minimum age of 21, all employees are eligible for participation under the