●  Macy's, Inc. · FY 2026 

Market Risk

While maintaining debt tied to general borrowing and credit card portfolios, a company's management of interest rate risk relies heavily on fixed-rate instruments and derivative agreements like swaps and caps. As of January 31, 2026, however, the organization reported no material market risk exposure due to the lack of sensitive instruments outstanding.

M L1 Synthesis
●  SYMBOLOGY.ONLINE l1 SYNTHESIS 

Macy's, Inc Market Risk Synthesis

Quantitative Market Risk Exposure Assessment: Macy's, Inc.

Interest Rate Sensitivity

The Company maintains exposure to interest rate risk stemming from its general borrowing activities and the funding of its credit card portfolio.

Magnitude of Exposure and Structure
  • Exposure Source: Borrowing activities (Note 6) and credit card portfolio funding (Note 2).
  • Rate Type: All current borrowings are structured under fixed-rate instruments.
  • Mitigation Strategy: The Company employs interest rate swap and interest rate cap agreements when deemed appropriate to manage exposure and reduce borrowing costs.
Assessment of Risk Management
  • Strength: The primary debt structure utilizes fixed-rate instruments, providing a baseline stability against rising market rates. Furthermore, the company explicitly states it does not use financial instruments for trading or speculative purposes.
  • Weakness/Observation: Despite the fixed nature of core borrowings, the reliance on derivative instruments (swaps and caps) indicates that active management is required to maintain risk control. As of January 31, 2026, the Company reported no material market risk exposure due to a lack of sensitive instruments outstanding.

Foreign Currency Exposure

No information regarding foreign currency exposures, involved currencies, or associated translation/transaction risks was disclosed in the provided filing excerpt.

Commodity Price Risk

The provided text does not contain any disclosures concerning commodity price risk, key commodities, contract structures, or their impact on margins.

Equity Price Risk

There are no mentions of investment portfolios, mark-to-market impacts, or exposure to equity price fluctuations within this section of the filing.

Quantitative Measures and Stress Testing

The Company's market risk disclosures do not include specific quantitative measures such as Value-at-Risk (VaR), detailed sensitivity tables, or results from formal stress testing scenarios.