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<body lang=EN-US>

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<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'><br>
<b>As filed with the Securities and Exchange Commission on September 20, 2016</b></p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:right'><b>Registration No.
333-<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>
<br>
</b></p>

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  <td valign=top style='width:1011px;border:1.0pt solid black;
  height:2.5pt; padding-left:6.95pt; padding-right:6.95pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-bottom:.95pt'><b>&nbsp;</b></p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 5.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'><b><font style="font-size: 15.0pt">UNITED STATES</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'><b><font style="font-size: 15.0pt">SECURITIES AND EXCHANGE COMMISSION</font></b><font style="font-size: 15.0pt"><br>
</font>Washington, DC&nbsp; 20549<br>
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u><u><font style="font-size: 5.0pt"><br>
</font></u><font style="font-size: 15.0pt">FORM S-8<br>
</font><font style="font-size: 5.0pt"><br>
</font>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933<br>
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u><u><font style="font-size: 5.0pt"><br>
</font></u><b><font style="font-size: 14.0pt">MACY&#146;S, INC.</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'>(Exact Name of
Registrant as Specified in its Charter)<br>
<br>
</p>

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 style='border-collapse:collapse' width="1039">
 <tr>
  <td valign=top style='width:503px;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'><b><font style="font-size: 12.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delaware<br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  </font></b>(State or Other Jurisdiction of Incorporation or Organization)</p>
  </td>
  <td valign=top style='width:259px;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'><b><font style="font-size: 12.0pt">7 West Seventh Street<br>
  Cincinnati, Ohio&nbsp; 45202<br>
  <br>
  </font></b></p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'>(Address of
  Principal Executive Offices, Including Zip Code)</p>
  </td>
  <td valign=top style='width:235px;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'><b><font style="font-size: 12.0pt">13-3324058</font><br>
  </b>(I.R.S. Employer Identification Number)</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:center;punctuation-wrap:simple;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:bold;'>Macy&#146;s,
Inc.&nbsp; 401(<font style="font-size: 14.0pt">k) RETIREMENT Investment Plan</font></p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:center;punctuation-wrap:simple;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:bold;'>(Full Title of the Plan)<font style="font-size: 10.0pt"><br>
<br>
Dennis J. Broderick, Esq.<br>
Executive Vice President, General Counsel</font></p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:center;punctuation-wrap:simple;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:bold;'><font style="font-size: 10.0pt">Macy&#146;s, Inc.<br>
7 West Seventh Street<br>
Cincinnati, Ohio&nbsp; 45202<br>
(513) 579-7000</font></p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:center;punctuation-wrap:simple;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:bold;'>(Name,
Address and Telephone Number, Including Area Code, of Agent for Service)</p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:center;punctuation-wrap:simple;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:bold;'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:center;punctuation-wrap:simple;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";;margin-left:9.0pt;text-align:left'><u><font style="font-size: 5.0pt"><br>
</font></u>Indicate by check
mark whether the registrant is a large accelerated filer, an accelerated filer,
a non-accelerated filer, or a smaller reporting company.&nbsp; See the definitions
of &#147;large accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting
company&#148; in Rule 12b-2 of the Exchange Act.&nbsp; (Check one):</p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:center;punctuation-wrap:simple;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:bold;margin-left:9.0pt;text-align:left'>&nbsp;</p>

<p style='margin-bottom:.0001pt;text-align:center;punctuation-wrap:simple;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:9.0pt;text-align:left; margin-right:0in; margin-top:0in'><u>X</u>&nbsp;&nbsp; Large accelerated filer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; __&nbsp;
Accelerated filer</p>

<p style='margin-bottom:.0001pt;text-align:center;punctuation-wrap:simple;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:9.0pt;text-align:left; margin-right:0in; margin-top:0in'>__&nbsp; Non-accelerated filer (Do not
check if a smaller reporting company)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; __&nbsp;
Smaller reporting company</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>

<p style='margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:left; margin-left:0in; margin-right:0in; margin-top:0in'>
<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CALCULATION OF
REGISTRATION FEE</b></p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:6.95pt;border-collapse:collapse'>
 <tr style='height:2.5pt'>
  <td width=720 colspan=5 valign=top style='width:7.5in;border:solid black 1.0pt;
  padding:0in 6.95pt 0in 6.95pt;height:2.5pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:2.0pt'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-bottom:.95pt'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=311 valign=bottom style='width:233.25pt;border:solid white 1.0pt;
  border-top:none;padding:0in 6.35pt 0in 6.35pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:1.05pt'><br>
  <br>
  <br>
  </p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:84%'><br>
  <br>
  Title of Securities to be Registered</p>
  </td>
  <td width=98 valign=top style='width:73.2pt;border-top:none;border-left:none;
  border-bottom:solid white 1.0pt;border-right:solid white 1.0pt;padding:0in 6.35pt 0in 6.35pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:1.05pt'><font style="font-size: 8.0pt">&nbsp;</font></p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center;line-height:84%'><br>
  <br>
  Amount<br>
  to be<br>
  Registered (1) (2)</p>
  </td>
  <td width=98 valign=top style='width:73.2pt;border-top:none;border-left:none;
  border-bottom:solid white 1.0pt;border-right:solid white 1.0pt;padding:0in 6.35pt 0in 6.35pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:1.05pt'><font style="font-size: 8.0pt">&nbsp;</font></p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center;line-height:84%'>Proposed<br>
  Maximum<br>
  Offering<br>
  Price per<br>
  Share (3)</p>
  </td>
  <td width=107 valign=top style='width:80.15pt;border-top:none;border-left:
  none;border-bottom:solid white 1.0pt;border-right:solid white 1.0pt;
  padding:0in 6.35pt 0in 6.35pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:1.05pt'><font style="font-size: 8.0pt">&nbsp;</font></p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center;line-height:84%'>Proposed<br>
  Maximum<br>
  Aggregate<br>
  Offering<br>
  Price (3)</p>
  </td>
  <td width=107 valign=top style='width:80.2pt;border-top:none;border-left:
  none;border-bottom:solid white 1.0pt;border-right:solid white 1.0pt;
  padding:0in 6.35pt 0in 6.35pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:1.05pt'><font style="font-size: 8.0pt">&nbsp;</font></p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center;line-height:84%'><br>
  <br>
  <br>
  Amount of <br>
  Registration Fee </p>
  </td>
 </tr>
 <tr>
  <td width=311 valign=top style='width:233.25pt;border:solid white 1.0pt;
  border-top:none;padding:0in 6.35pt 0in 6.35pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:84%'><br>
  Common Stock, par value $0.01 per share </p>
  </td>
  <td width=98 valign=top style='width:73.2pt;border-top:none;border-left:none;
  border-bottom:solid white 1.0pt;border-right:solid white 1.0pt;padding:0in 6.35pt 0in 6.35pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center;line-height:84%'><br>
  10,000,000 shares</p>
  </td>
  <td width=98 valign=top style='width:73.2pt;border-top:none;border-left:none;
  border-bottom:solid white 1.0pt;border-right:solid white 1.0pt;padding:0in 6.35pt 0in 6.35pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center;line-height:84%'><br>
  $35.325</p>
  </td>
  <td width=107 valign=top style='width:80.15pt;border-top:none;border-left:
  none;border-bottom:solid white 1.0pt;border-right:solid white 1.0pt;
  padding:0in 6.35pt 0in 6.35pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center;line-height:84%'><br>
  $353,250,000</p>
  </td>
  <td width=107 valign=top style='width:80.2pt;border-top:none;border-left:
  none;border-bottom:solid white 1.0pt;border-right:solid white 1.0pt;
  padding:0in 6.35pt 0in 6.35pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center;line-height:84%'><br>
  $35,573</p>
  </td>
 </tr>
 <tr style='height:2.15pt'>
  <td width=720 colspan=5 valign=top style='width:7.5in;border:solid black 1.0pt;
  border-top:none;padding:0in 6.95pt 0in 6.95pt;height:2.15pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:2.0pt'><font style="font-size: 8.0pt">&nbsp;</font></p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-bottom:.95pt;line-height:84%'>&nbsp;</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><br>
(1)&nbsp; Represents the maximum number of shares of common stock, par value $0.01
per share (&#147;Common Stock&#148;), of Macy&#146;s, Inc. issuable pursuant to the Macy&#146;s,
Inc. 401(k) Retirement Investment Plan (the &#147;Plan&#148;) being registered hereon.</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 6.0pt"><br>
</font>(2)&nbsp; Pursuant to Rule 416(a) of the Securities
Act of 1933, as amended (the &#147;Securities Act&#148;), this Registration Statement
also covers an indeterminate number of shares that may become issuable under
the anti-dilution provisions of the Plan.&nbsp; In addition, pursuant to Rule 416(c)
under the Securities Act, this Registration Statement also covers an indeterminate
amount of interests to be offered or sold pursuant to the Plan.</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 6.0pt"><br>
</font>(3)&nbsp; Estimated solely for calculating the amount of the registration fee
in accordance with paragraphs (c) and (h) of Rule 457
under the Securities Act on the basis of $35.325 per share, which was the
average of the high and low prices of the Common Stock as reported on the New
York Stock Exchange - Composite Tape on September 14, 2016, a date within five
(5) business days prior to filing. <br>
<br>
</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:6.95pt;border-collapse:collapse'>
 <tr style='height:2.5pt'>
  <td width=720 valign=top style='width:7.5in;border:solid black 1.0pt;
  padding:0in 6.95pt 0in 6.95pt;height:2.5pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";line-height:2.0pt'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-bottom:.95pt'>&nbsp;</p>
  </td>
 </tr>
</table>

</div>

<br
clear=all style='page-break-before:always'>


<div style='page:WordSection2;'>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=703
 style='width:527.4pt;border-collapse:collapse'>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <h4 style='margin:0in;margin-bottom:.0001pt;text-align:center;page-break-after:avoid;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";font-weight:bold;'>Explanatory Note</h4>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>&nbsp;</b></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Macy&#146;s, Inc., a Delaware corporation (&#147;Macy&#146;s&#148; or the
  &#147;Company&#148;), hereby files this Registration Statement on Form S-8 with the
  Securities and Exchange Commission (the &#147;Commission&#148;) to register additional
  securities of the same class as other securities for which a previously filed
  registration statement on Form S-8 relating to the Plan (formerly known as
  the Macy&#146;s, Inc. Profit Sharing 401(k) Investment Plan) is effective.&nbsp; </p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Pursuant to General Instruction E to Form S-8, this
  Registration Statement incorporates by reference the contents of the
  Registration Statement on Form S-8 (Registration No. 333-153719) filed by the
  Company on September 29, 2008 with respect to the Plan, the Registration
  Statement on Form S-8 (Registration No. 333-133080) filed by the Company on
  April 7, 2006 with respect to the Plan and the Registration Statement on Form
  S-8 (Registration No. 333-104017) filed by the Company on March 25, 2003 with
  respect to the Plan, including all attachments and exhibits thereto, with the
  exception of Items 3, 6, 8 and 9 of Part II of such prior registration
  statements, each of which is amended and restated in its entirety herein.</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>&nbsp;</b></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>&nbsp;</b></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'><b>PART II</b></p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'><b>INFORMATION
  REQUIRED IN THE REGISTRATION STATEMENT</b></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>&nbsp;</b></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>Item 3.&nbsp; Incorporation of Documents by Reference.</b></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>&nbsp;</b></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents,
  which the Company or the Plan has filed with the Commission, are incorporated
  by reference into this Registration Statement:</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>&nbsp;</b></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:11.25pt'>
  <td width=67 valign=top style='width:.7in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</p>
  </td>
  <td width=619 valign=top style='width:6.45in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>the Company&#146;s Annual Report on Form 10-K for the fiscal
  year ended January 30, 2016 (Commission File No. 001-13536);</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:11.25pt'>
  <td width=67 valign=top style='width:.7in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=619 valign=top style='width:6.45in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:11.25pt'>
  <td width=67 valign=top style='width:.7in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</p>
  </td>
  <td width=619 valign=top style='width:6.45in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>the Plan&#146;s Annual Report on Form 11-K for the year ended
  December 31, 2015 (Commission File No. 001-13536); </p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:11.25pt'>
  <td width=67 valign=top style='width:.7in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=619 valign=top style='width:6.45in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:11.25pt'>
  <td width=67 valign=top style='width:.7in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</p>
  </td>
  <td width=619 valign=top style='width:6.45in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>the Company&#146;s Quarterly Reports on Form 10-Q for the
  quarterly periods ended April 30, 2016 and July 30, 2016 (Commission File No.
  001-13536);</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:11.25pt'>
  <td width=67 valign=top style='width:.7in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=619 valign=top style='width:6.45in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:11.25pt'>
  <td width=67 valign=top style='width:.7in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)</p>
  </td>
  <td width=619 valign=top style='width:6.45in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>the Company&#146;s Current Reports on
  Form 8-K (Commission File No. 001-13536) filed
  with the Commission on March 3, 2016; March 22, 2016; May 11, 2016 (only with
  respect to the Current Report reporting Items 1.01 and 9.01); May 24, 2016;
  and June 23, 2016; and</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:11.25pt'>
  <td width=67 valign=top style='width:.7in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=619 valign=top style='width:6.45in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:11.25pt'>
  <td width=67 valign=top style='width:.7in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:left; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp; (e)</p>
  </td>
  <td width=619 valign=top style='width:6.45in;padding:0in 5.4pt 0in 5.4pt;
  height:11.25pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>the description of the Common Stock contained in a
  Registration Statement on Form 8-A (Commission File No. 001-13536), filed
  with the Commission on December 12, 1994 and any subsequent
  amendment(s) or report(s) filed for the purpose of updating such description.</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>&nbsp;</b></p>
  </td>
  <td width=17 valign=top style='width:12.6pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>&nbsp;</b></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>In addition, all documents subsequently filed by the
  Company and the Plan pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
  Securities Exchange Act of 1934, as amended, prior to the filing of a
  post-effective amendment that indicates that all securities offered have been
  sold or that deregisters all securities then remaining unsold shall be deemed
  to be incorporated by reference in this Registration Statement and to be a
  part hereof from the date of filing of such documents.&nbsp; Any statement
  contained in any document incorporated or deemed to be incorporated by
  reference herein will be deemed to be modified or superseded for purposes of
  this Registration Statement to the extent that a statement contained herein
  or in any other subsequently filed document that also is or is deemed to be
  incorporated by reference herein modifies or supersedes such statement.&nbsp; Any
  such statement so modified or superseded will not be deemed, except as
  modified or superseded, to constitute a part of this Registration Statement.</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>&nbsp;</b></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=17><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
</table>

<br
clear=all style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=686
 style='width:7.15in;border-collapse:collapse'>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=3 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>Item 6.&nbsp; Indemnification of Directors and Officers.</b></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=3 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>&nbsp;</b></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=3 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Section 145 of the Delaware General Corporation Law, which
  is applicable to the Company, provides, in general, that each director and officer
  of a corporation may be indemnified against expenses (including attorneys&#146;
  fees), judgments, fines and amounts paid in settlement actually and
  reasonably incurred in connection with any threatened, pending or completed
  legal proceedings in which he or she is involved by reason of the fact that
  he or she is or was a director or officer, if he or she acted in good faith
  and in a manner that he or she reasonably believed to be in or not opposed to
  the best interests of the corporation, and, with respect to any criminal
  action or proceeding, if he or she had no reasonable cause to believe that
  his or her conduct was unlawful. If the legal proceeding, however, is by or
  in the right of the corporation, the director or officer may not be
  indemnified in respect of any claim, issue or matter as to which he or she
  has been adjudged to be liable to the corporation unless a court determines
  otherwise. &nbsp;The Company&#146;s certificate of incorporation and by-laws provide
  for the indemnification of the Company&#146;s directors and officers to the
  fullest extent permitted by applicable law.</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=3 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>&nbsp;</b></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=3 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>Item 8.&nbsp; Exhibits.</b></p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>&nbsp;</b></p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>&nbsp;</b></p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.1</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Amended and Restated Certificate of Incorporation of the
  Company (incorporated herein by reference to Exhibit 3.1 to the Company&#146;s
  Current Report on Form 8-K (Commission File No. 001-13536) filed on May 18,
  2010)</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.2</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Article Seventh of the Amended and Restated Certificate of
  Incorporation (incorporated herein by reference to Exhibit 3.1 to the
  Company&#146;s Current Report on Form 8-K (Commission File No. 001-13536) filed on
  May 24, 2011)</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.3</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Amended and Restated By-Laws of the Company (incorporated
  herein by reference to Exhibit 3.1 to the Company&#146;s Current Report on Form
  8-K (Commission File No. 001-13536) filed on March 3, 2016)</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.4</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.5</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp; &nbsp;&nbsp; 4.6</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp; &nbsp;&nbsp; 4.7</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp; &nbsp;&nbsp; 4.8</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp; </p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp; &nbsp;&nbsp; 4.9</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Macy&#146;s, Inc. 401(k) Retirement Investment Plan
  (incorporated herein by reference to Exhibit 10.22 to the Company&#146;s Annual
  Report on Form 10-K (Commission File No. 001-13536) for the fiscal year ended
  February 1, 2014)</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>First Amendment to Macy&#146;s, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.21.1 to the
  Company&#146;s Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 31, 2015)</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Second Amendment to Macy&#146;s, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.21.2 to the
  Company&#146;s Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 31, 2015)</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Third Amendment to Macy&#146;s, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.21.3 to the
  Company&#146;s Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 31, 2015)</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Fourth Amendment to Macy&#146;s, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.17.4 to the
  Company&#146;s Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 30, 2016)</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Fifth Amendment to Macy&#146;s, Inc. 401(k) Retirement Investment
  Plan (incorporated herein by reference to Exhibit 10.17.5 to the Company&#146;s
  Annual Report on Form 10-K (Commission File No. 001-13536) for the fiscal
  year ended January 30, 2016)</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.1</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Opinion of Counsel</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp; 23.1</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Consents of KPMG LLP</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp; 23.2</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Consent of Counsel (included in Exhibit 5.1)</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp; 24.1</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Powers of Attorney</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=3 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>The Company will submit or has submitted the Plan and any
  amendments thereto to the Internal Revenue Service (&#147;IRS&#148;) in a timely manner
  and has made or will make all changes required by the IRS in order to qualify
  the Plan under Section 401(a) of the Internal Revenue Code of 1986, as
  amended.</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=3 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>Item 9.&nbsp; Undertakings.</b></p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>The Company hereby undertakes:</p>
  </td>
 </tr>
 <tr style='height:3.3pt'>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.3pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=48 valign=top style='width:.5in;padding:0in 5.4pt 0in 5.4pt;
  height:3.3pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=565 valign=top style='width:423.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.3pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='height:3.2pt'>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=48 valign=top style='width:.5in;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>(1)</p>
  </td>
  <td width=565 valign=top style='width:423.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>To file, during any period in which offers or sales are
  being made, a post-effective amendment to this Registration Statement: (i) to
  include any prospectus required by Section 10(a)(3) of the Securities Act;
  (ii) to reflect in the prospectus any facts or events arising after the
  effective date of the Registration Statement (or the most recent
  post-effective amendment thereof) which, individually or in the aggregate,
  represent a fundamental change in the information set forth in the
  Registration Statement.&nbsp; Notwithstanding the foregoing, any increase or
  decrease in volume of securities offered (if the total dollar value of
  securities offered would not exceed that which was registered) and any
  deviation from the low or high end of the estimated maximum offering range
  may be reflected in the form of prospectus filed with the Commission pursuant
  to Rule 424(b) if, in the aggregate, the changes in volume and price
  represent no more than 20 percent change in the maximum aggregate offering
  price set forth in the &#147;Calculation of Registration Fee&#148; table in the
  effective Registration Statement; and</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;(iii) to include any material information with respect to
  the plan of distribution not previously disclosed in the Registration
  Statement or any material change to such information in the Registration
  Statement;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><i>provided</i>, <i>however</i>, that paragraphs (A)(1)(i)
  and (A)(1)(ii) of this section do not apply if the Registration Statement is
  on Form S-8 and the information required to be included in a post-effective
  amendment by those paragraphs is contained in reports filed with or furnished
  to the Commission by the Company pursuant to Section 13 or Section 15(d) of
  the Securities Exchange Act of 1934, as amended, that are incorporated by
  reference in the Registration Statement.</p>
  </td>
 </tr>
 <tr style='height:3.2pt'>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=48 valign=top style='width:.5in;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=565 valign=top style='width:423.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='height:3.2pt'>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=48 valign=top style='width:.5in;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>(2)</p>
  </td>
  <td width=565 valign=top style='width:423.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>That, for the purpose of determining any liability under
  the Securities Act, each such post-effective amendment shall be deemed to be
  a new registration statement relating to the securities offered therein, and
  the offering of such securities at that time shall be deemed to be the
  initial <i>bona fide</i> offering thereof.</p>
  </td>
 </tr>
 <tr style='height:3.2pt'>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=48 valign=top style='width:.5in;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=565 valign=top style='width:423.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='height:3.2pt'>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=48 valign=top style='width:.5in;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>(3)</p>
  </td>
  <td width=565 valign=top style='width:423.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>To remove from registration by means of a post-effective
  amendment any of the securities being registered which remain unsold at the
  termination of the offering.</p>
  </td>
 </tr>
 <tr style='height:3.2pt'>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=48 valign=top style='width:.5in;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=565 valign=top style='width:423.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:3.2pt'>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>The Company hereby undertakes that, for purposes of
  determining any liability under the Securities Act, each filing of the
  Company&#146;s annual report pursuant to Section 13(a) or Section 15(d) of the
  Securities Exchange Act of 1934, as amended (and, where applicable, each
  filing of an employee benefit plan&#146;s annual report pursuant to Section 15(d)
  of the Securities Exchange Act of 1934, as amended), that is incorporated by
  reference in the Registration Statement shall be deemed to be a new
  registration statement relating to the securities offered therein, and the
  offering of such securities at that time shall be deemed to be the initial <i>bona
  fide</i> offering thereof.</p>
  </td>
 </tr>
 <tr style='height:3.2pt'>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=48 valign=top style='width:.5in;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=565 valign=top style='width:423.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:3.2pt'>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Insofar as indemnification for liabilities arising under
  the Securities Act may be permitted to directors, officers, and controlling
  persons of the Company pursuant to the foregoing provisions, or otherwise,
  the Company has been advised that in the opinion of the Commission such
  indemnification is against public policy as expressed in the Securities Act
  and is, therefore, unenforceable.&nbsp; In the event that a claim for
  indemnification against such liabilities (other than the payment by the
  Company of expenses incurred or paid by a director, officer, or controlling
  person of the Company in the successful defense of any action, suit or
  proceeding) is asserted by such director, officer, or controlling person in
  connection with the securities being registered, the Company will, unless in
  the opinion of its counsel the matter has been settled by controlling
  precedent, submit to a court of appropriate jurisdiction the question whether
  such indemnification by it is against public policy as expressed in the
  Securities Act and will be governed by the final adjudication of such issue.</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:3.2pt'>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:3.2pt'>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'><br
  clear=all style='page-break-before:always'>

  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=2 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
</table>

<br
clear=all style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=686
 style='width:7.15in;border-collapse:collapse'>
 <tr style='page-break-inside:avoid;height:3.2pt'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'><b>SIGNATURES</b></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:3.2pt'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:3.2pt'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><i>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant</i>.&nbsp;
  Pursuant to the requirements of the Securities Act, the Company certifies
  that it has reasonable grounds to believe that it meets all of the
  requirements for filing on Form S-8 and has duly caused this Registration
  Statement to be signed on its behalf by the undersigned, thereunto duly
  authorized, in the City of Cincinnati, State of Ohio on September 20, 2016.</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:3.2pt'>
  <td width=686 colspan=2 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt;
  height:3.2pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:2.85pt'>
  <td width=307 valign=top style='width:3.2in;padding:0in 5.4pt 0in 5.4pt;
  height:2.85pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=379 valign=top style='width:3.95in;padding:0in 5.4pt 0in 5.4pt;
  height:2.85pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>MACY&#146;S, INC.</b></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:2.8pt'>
  <td width=307 valign=top style='width:3.2in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=379 valign=top style='width:3.95in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:2.8pt'>
  <td width=307 valign=top style='width:3.2in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=379 valign=top style='width:3.95in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>By:&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Dennis J. Broderick&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:2.8pt'>
  <td width=307 valign=top style='width:3.2in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=379 valign=top style='width:3.95in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><i>Dennis J. Broderick</i></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:2.8pt'>
  <td width=307 valign=top style='width:3.2in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=379 valign=top style='width:3.95in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><i>Executive Vice President, General Counsel </i></p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

</div>

<br
clear=all style='page-break-before:always'>


<div style='page:WordSection3;'>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-indent:22.3pt'>Pursuant to the requirements of
the Securities Act, this Registration Statement has been signed below by the
following persons in the capacities indicated as of the 20th day of September,
2016.</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=683
 style='width:512.6pt;margin-left:.4pt;border-collapse:collapse'>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b><u>Signature</u></b></p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b><u>Title</u></b></p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terry L. Lundgren</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Chairman of the Board, Chief Executive Officer and
  Director<br>
  (principal executive officer)</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Karen M. Hoguet</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Chief Financial Officer </p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>(principal financial officer)</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Felicia Williams</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Francis Blake</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Executive Vice President,
  Controller and Enterprise Risk<br>
  (principal accounting officer)</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Director</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'></p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>&nbsp;&nbsp;&nbsp; Stephen F. Bollenbach</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John A. Bryant</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'></p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Director</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Director</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'></p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deirdre P. Connelly</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'></p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Director</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jeffrey Gennette</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'></p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>President and Director</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Leslie D. Hale</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'></p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Director</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='height:15.75pt'>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in;
  height:15.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; William H. Lenehan</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in;height:
  15.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in;
  height:15.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Director</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sara Levinson</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Director</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Joyce M. Roch&#233;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Director</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-left:22.1pt;text-indent:-22.1pt'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>Paul C. Varga</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Director</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Craig E. Weatherup</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Director</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>&nbsp;&nbsp;&nbsp; Marna C. Whittington</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>&nbsp;&nbsp;&nbsp; Annie Young-Scrivner</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Director</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Director</p>
  </td>
 </tr>
 <tr>
  <td width=683 colspan=5 valign=top style='width:512.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><u>*&nbsp;&nbsp;&nbsp;&nbsp; The undersigned, by signing his name hereto, does
  sign and execute this Registration Statement pursuant to Powers of Attorney
  executed by the above-named persons.</u></p>
  </td>
 </tr>
 <tr>
  <td width=344 colspan=2 valign=top style='width:258.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=1 valign=top style='width:1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=338 colspan=2 valign=top style='width:253.35pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:2.8pt'>
  <td width=304 valign=top style='width:228.35pt;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=375 colspan=3 valign=top style='width:281.5pt;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>By:&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Dennis J. Broderick&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=4><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:2.8pt'>
  <td width=304 valign=top style='width:228.35pt;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=375 colspan=3 valign=top style='width:281.5pt;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><i>Dennis J. Broderick,</i></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=4><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:2.8pt'>
  <td width=304 valign=top style='width:228.35pt;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=375 colspan=3 valign=top style='width:281.5pt;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><i>Attorney-in-Fact</i></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=4><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid;height:2.8pt'>
  <td width=304 valign=top style='width:228.35pt;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=375 colspan=3 valign=top style='width:281.5pt;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><i>&nbsp;</i></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=4><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr height=0>
  <td width=304 style='border:none'></td>
  <td width=40 style='border:none'></td>
  <td width=1 style='border:none'></td>
  <td width=334 style='border:none'></td>
  <td width=4 style='border:none'></td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-indent:22.3pt'><i>Macy&#146;s, Inc. 401(k) Retirement
Investment Plan</i>.&nbsp; Pursuant to the requirements of the Securities Act, the
Plan administrator has duly caused this Registration Statement to be signed on
its behalf by the undersigned, thereunto duly authorized, in the City of
Cincinnati, State of Ohio on September 20, 2016.</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=686
 style='width:7.15in;border-collapse:collapse'>
 <tr style='page-break-inside:avoid;height:2.85pt'>
  <td width=307 valign=top style='width:3.2in;padding:0in 5.4pt 0in 5.4pt;
  height:2.85pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=379 valign=top style='width:3.95in;padding:0in 5.4pt 0in 5.4pt;
  height:2.85pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><b>MACY&#146;S, INC. 401(k) RETIREMENT INVESTMENT PLAN</b></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:2.8pt'>
  <td width=307 valign=top style='width:3.2in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=379 valign=top style='width:3.95in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:2.8pt'>
  <td width=307 valign=top style='width:3.2in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=379 valign=top style='width:3.95in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>By:&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Dennis J. Broderick&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:2.8pt'>
  <td width=307 valign=top style='width:3.2in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=379 valign=top style='width:3.95in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><i>Dennis J. Broderick</i></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid;height:2.8pt'>
  <td width=307 valign=top style='width:3.2in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=379 valign=top style='width:3.95in;padding:0in 5.4pt 0in 5.4pt;
  height:2.8pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'><i>Executive Vice President, General Counsel, Macy&#146;s, Inc.</i></p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;text-align:center;punctuation-wrap:simple;text-autospace:none;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:bold;'><font style="font-size: 11.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>


<blockquote>
	<blockquote>
		<blockquote>
			<blockquote>
				<blockquote>
					<blockquote>
						<blockquote>
							<p style='margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:left; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;<u>INDEX TO EXHIBITS</u></p>
						</blockquote>
					</blockquote>
				</blockquote>
			</blockquote>
		</blockquote>
	</blockquote>
</blockquote>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=686
 style='width:7.15in;border-collapse:collapse'>
 <tr>
  <td width=79 colspan=2 valign=top style='width:59.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'><u><br>
  <br>
  Exhibit No.</u></p>
  </td>
  <td width=510 valign=top style='width:382.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'><u><br>
  <br>
  Exhibit</u></p>
  </td>
  <td width=83 valign=top style='width:62.1pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=14><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=79 colspan=2 valign=top style='width:59.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=510 valign=top style='width:382.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=83 valign=top style='width:62.1pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=14><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.1</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Amended and Restated Certificate of Incorporation of the
  Company (incorporated herein by reference to Exhibit 3.1 to the Company&#146;s
  Current Report on Form 8-K (Commission File No. 001-13536) filed on May 18,
  2010)</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.2</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Article Seventh of the Amended and Restated Certificate of
  Incorporation (incorporated herein by reference to Exhibit 3.1 to the
  Company&#146;s Current Report on Form 8-K (Commission File No. 001-13536) filed on
  May 24, 2011)</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.3</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Amended and Restated By-Laws of the Company (incorporated
  herein by reference to Exhibit 3.1 to the Company&#146;s Current Report on Form
  8-K (Commission File No. 001-13536) filed on March 3, 2016)</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.4</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.5</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp; &nbsp;&nbsp; 4.6</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp; &nbsp;&nbsp; 4.7</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp; &nbsp;&nbsp; 4.8</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp; </p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp; &nbsp;&nbsp; 4.9</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Macy&#146;s, Inc. 401(k) Retirement Investment Plan
  (incorporated herein by reference to Exhibit 10.22 to the Company&#146;s Annual
  Report on Form 10-K (Commission File No. 001-13536) for the fiscal year ended
  February 1, 2014)</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>First Amendment to Macy&#146;s, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.21.1 to the
  Company&#146;s Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 31, 2015)</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Second Amendment to Macy&#146;s, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.21.2 to the
  Company&#146;s Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 31, 2015)</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Third Amendment to Macy&#146;s, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.21.3 to the
  Company&#146;s Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 31, 2015)</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Fourth Amendment to Macy&#146;s, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.17.4 to the
  Company&#146;s Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 30, 2016)</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Fifth Amendment to Macy&#146;s, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.17.5 to the
  Company&#146;s Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 30, 2016)</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.1</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Opinion of Counsel</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp; 23.1</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Consents of KPMG LLP</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp; 23.2</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Consent of Counsel (included in Exhibit 5.1)</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp; 24.1</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Powers of Attorney</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=5 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=686 colspan=5 valign=top style='width:7.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=73 valign=top style='width:54.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=613 colspan=4 valign=top style='width:459.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr height=0>
  <td width=73 style='border:none'></td>
  <td width=6 style='border:none'></td>
  <td width=510 style='border:none'></td>
  <td width=83 style='border:none'></td>
  <td width=14 style='border:none'></td>
 </tr>
</table>

<br
clear=all style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<p style='margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in;text-align:center; margin-left:0in; margin-top:0in'><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Exhibit
5.1</u></b></p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<p style='margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:left; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Letterhead of Dennis
J. Broderick]</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-indent:2.5in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-indent:2.5in'>September 20, 2016</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Macy&#146;s, Inc.</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>7 West Seventh Street</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Cincinnati, OH&nbsp; 45202</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-indent:1.0in'>Re:&nbsp; <u>Registration Statement on
Form S-8 Filed by Macy&#146;s, Inc.</u></p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>Ladies and Gentlemen:</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:justify'>In my capacity as General Counsel
of Macy&#146;s, Inc., a Delaware corporation (the &#147;<b><i>Company</i></b>&#148;), I have
acted as counsel for the Company in connection with the registration of
10,000,000 shares (the <b>&#147;<i>Shares</i>&#148;</b>) of common stock, par value $0.01
per share, of the Company that may be issued or delivered and sold pursuant to
the Macy&#146;s, Inc. 401(k) Retirement Investment Plan (the &#147;<b><i>Plan</i></b>&#148;).
In connection with the opinion expressed herein, I have examined such
documents, records and matters of law as I have deemed relevant or necessary
for purposes of such opinion. Based on the foregoing, and subject to the
further limitations, qualifications and assumptions set forth herein, I am of
the opinion that the Shares, when issued or delivered and sold in accordance
with the Plan, against payment of the consideration therefor as provided in the
Plan, will be validly issued, fully paid and nonassessable, provided that the
consideration for the Shares is at least equal to the stated par value thereof.</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:justify'>In rendering this opinion, I have
assumed (i) the authenticity of all documents submitted to me as originals and
the conformity to original documents of all documents submitted to me as copies,
and (ii) that the signatures on all documents examined by me are genuine and
that, where any such signature purports to have been made in a corporate,
governmental, fiduciary or other capacity (other than on behalf of the
Company), the person who affixed such signature to such document had authority
to do so.</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:justify'>I am a member of the bar of the
State of Ohio and have not been admitted to the bar of any other jurisdiction.&nbsp;
The opinion expressed herein is limited to the General Corporation Law of the
State of Delaware, as currently in effect, and I express no opinion as to the
effects of the laws of any other jurisdiction on the opinion expressed herein.&nbsp;
In addition, I have assumed that the resolutions authorizing the Company to
issue or deliver and sell the Shares pursuant to the Plan will be in full force
and effect at all times at which the Shares are issued or delivered and sold by
the Company, and that the Company will take no action inconsistent with such
resolutions.&nbsp; In rendering the opinion expressed herein I have relied, as to
certain matters of fact, without any independent investigation, inquiry or
verification, upon statements or certificates of representatives of the Company
and upon statements or certificates of public officials.</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:justify'>I hereby consent to the filing of
this opinion as Exhibit 5.1 to the Registration Statement on Form S-8 filed by
the Company to effect the registration of the Shares under the Securities Act
of 1933 (the &#147;<b><i>Act</i></b>&#148;).&nbsp; In giving such consent, I do not thereby
admit that I am included in the category of persons whose consent is required
under Section 7 of the Act or the rules and regulations of the Securities and
Exchange Commission promulgated thereunder. </p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:justify'>Very truly yours,</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:justify'>/s/ Dennis J. Broderick</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:justify'>Dennis J. Broderick</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:justify'>Executive Vice President, General
Counsel </p>

<br
clear=all style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";text-align:justify'>&nbsp;</p>

<b><u><br clear=all style='page-break-before:always'>
</u></b>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:.35in;
margin-bottom:0in;margin-left:3.25in;margin-bottom:.0001pt;text-align:right'><b><u>Exhibit
23.1</u></b></p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<p style='mso-style-name:"Address Block";margin:0in;margin-bottom:.0001pt;line-height:13.0pt;punctuation-wrap:simple;text-autospace:none;font-size:11.0pt;font-family:"Times","serif";text-align:center'><b>Consent of
Independent Registered Public Accounting Firm </b></p>

<p style='mso-style-name:"Address Block";margin:0in;margin-bottom:.0001pt;line-height:13.0pt;punctuation-wrap:simple;text-autospace:none;font-size:11.0pt;font-family:"Times","serif";text-align:justify'>&nbsp;</p>

<p style='mso-style-name:"Salutation1\,sa";margin-top:0in;margin-right:0in;margin-bottom:.25in;margin-left:0in;font-size:11.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"Salutation1\,sa";margin-top:0in;margin-right:0in;margin-bottom:.25in;margin-left:0in;font-size:11.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"Salutation1\,sa";margin-top:0in;margin-right:0in;margin-bottom:.25in;margin-left:0in;font-size:11.0pt;font-family:"Times New Roman","serif";'>The Board of Directors<br>
Macy&#146;s, Inc.:</p>

<p style='mso-style-name:"Normal Keep With Next\,nkwn";margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";'>We consent to the use of our report dated March 30,
2016 with respect to the consolidated balance sheets of Macy&#146;s, Inc. and
subsidiaries as of January 30, 2016 and January 31, 2015, and the related
consolidated statements of income, comprehensive income, cash flows, and
changes in shareholders&#146; equity for each of the years in the three-year period
ended January 30, 2016, and the effectiveness of internal control over
financial reporting as of January 30, 2016, incorporated by reference in the
registration statement.</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>/s/ KPMG LLP</p>

<p style='mso-style-name:"Opinion Date\,od";margin-top:10.0pt;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;font-size:11.0pt;font-family:"Times New Roman","serif";'>Cincinnati, Ohio<br>
September 16, 2016</p>

<br
clear=all style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:.35in;
margin-bottom:0in;margin-left:3.25in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<p style='mso-style-name:"Address Block";margin:0in;margin-bottom:.0001pt;line-height:13.0pt;punctuation-wrap:simple;text-autospace:none;font-size:11.0pt;font-family:"Times","serif";text-align:center'><b>Consent of
Independent Registered Public Accounting Firm </b></p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:.35in;margin-bottom:0in;
margin-left:3.25in;margin-bottom:.0001pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:.35in;margin-bottom:0in;
margin-left:3.25in;margin-bottom:.0001pt'>&nbsp;</p>

<p style='mso-style-name:"Salutation1\,sa";margin-top:0in;margin-right:0in;margin-bottom:.25in;margin-left:0in;font-size:11.0pt;font-family:"Times New Roman","serif";'>The Board of Directors<br>
Macy&#146;s, Inc.:</p>

<p style='mso-style-name:"Normal Keep With Next\,nkwn";margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";'>We consent to the use of our report dated June 24,
2016 with respect to the statements of net assets available for benefits of the
Macy&#146;s, Inc. 401(k) Retirement Investment Plan as of December 31, 2015 and
2014, and the related statements of changes in net assets available for
benefits for the years then ended, and the supplemental schedule of Form 5500,
Schedule H, line 4i &#150; Schedule of Assets (Held at End of Year) as of December
31, 2015, incorporated by reference in the registration statement.</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>/s/ KPMG LLP</p>

<p style='mso-style-name:"Opinion Date\,od";margin-top:10.0pt;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;font-size:11.0pt;font-family:"Times New Roman","serif";'>Cincinnati, Ohio<br>
September 16, 2016</p>

<p style='mso-style-name:"KPMG City";margin-top:26.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;line-height:13.0pt;punctuation-wrap:simple;text-autospace:none;font-size:11.0pt;font-family:"Times","serif";text-align:justify'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in;text-align:right'><b><u>Exhibit
24.1</u></b></p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><b>&nbsp;</b></p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in;text-align:center'><b>POWERS
OF ATTORNEY<br>
<br>
<br>
</b></p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in;text-indent:.5in'>KNOW ALL MEN BY
THESE PRESENTS, that each of the undersigned directors and/or officers of
MACY&#146;S, INC., a Delaware corporation (the &#147;Company&#148;), does hereby constitute
and appoint DENNIS J. BRODERICK, ANN MUNSON STEINES, and MARY E. TALBOTT, or
any of them, their true and lawful attorneys and agents to do any and all acts
and things and execute any and all instruments which said attorneys and agents,
or any of them, may deem necessary or advisable or which said attorneys and
agents, or any of them, may deem necessary or advisable or which may be
required to enable the Company to comply with the Securities Act of 1933, as
amended, and any rules, regulations or requirements of the Securities and
Exchange Commission in respect thereof, in connection with the filing with the
Securities and Exchange Commission of a Registration Statement on Form S-8
relating to the Macy&#146;s, Inc. 401(k)
RETIREMENT INVESTMENT PLAN, including
specifically but without limiting the generality of the foregoing, the power
and authority to sign in the name and on behalf of the undersigned, in his or
her capacity as a director and/or officer of the Company, any such Form S-8 and
any and all amendments and supplements thereto and any other instruments or
documents filed as a part of or in connection therewith, and each of the
undersigned does hereby ratify and confirm all that said attorneys and agents
or any of them, may do or cause to be done by virtue hereof.</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IN WITNESS
WHEREOF, each of the undersigned has subscribed these presents as of the 26th
day of August, 2016.</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=882
 style='width:661.5pt;margin-left:.9pt;border-collapse:collapse'>
 <tr>
  <td width=222 valign=top style='width:166.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>/s/ Francis S. Blake&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>Francis S. Blake</p>
  </td>
  <td width=228 valign=top style='width:171.0pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>/s/ Stephen F. Bollenbach&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>Stephen F. Bollenbach</p>
  </td>
  <td width=216 valign=top style='width:2.25in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>/s/John A. Bryant&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>John A. Bryant</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=216><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=222 valign=top style='width:166.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  </td>
  <td width=228 valign=top style='width:171.0pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  </td>
  <td width=216 valign=top style='width:2.25in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=216><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=222 valign=top style='width:166.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  </td>
  <td width=228 valign=top style='width:171.0pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  </td>
  <td width=216 valign=top style='width:2.25in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=216><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=222 valign=top style='width:166.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>/s/ Deirdre P. Connelly&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>Deirdre P. Connelly</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>/s/ Karen M. Hoguet&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>Karen M. Hoguet</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>/s/ Terry J. Lundgren&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>Terry J. Lundgren</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>/s/ Craig E. Weatherup&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>Craig E. Weatherup</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>/s/ Annie Young-Scrivner&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>Annie Young-Scrivner</p>
  </td>
  <td width=228 valign=top style='width:171.0pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>&nbsp;/s/ Jeffrey Gennette&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>Jeffrey Gennette</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>/s/ William H. Lenehan&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>William H. Lenehan</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>/s/ Joyce M. Roch</u><u>&#233;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>Joyce M. Roch&#233;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>/s/ Marna C. Whittington&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>Marna C. Whittington</p>
  </td>
  <td width=216 valign=top style='width:2.25in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>/s/ Leslie D. Hale&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>Leslie D. Hale</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>/s/ Sara Levinson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>Sara Levinson </p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>/s/ Paul C. Varga&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>Paul C. Varga</u></p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'><u>/s/ Felicia Williams&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
  </u>Felicia Williams</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";margin-right:.35in'>&nbsp;</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=216><p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 </table>

<p style='margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-autospace:none;font-size:10.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

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[{"type": "S-8", "sequence": "1", "filename": "esforms809202016.htm", "description": "FORM S-8 FILED ON SEPTEMBER 20, 2016", "secsgml_size_bytes": 174015}]
{"company-data": {"conformed-name": "Macy's, Inc.", "cik": "0000794367", "assigned-sic": "5311", "irs-number": "133324058", "state-of-incorporation": "DE", "fiscal-year-end": "0130"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-213707", "film-number": "161893556"}, "business-address": {"street1": "7 WEST SEVENTH STREET", "city": "CINCINNATI", "state": "OH", "zip": "45202", "phone": "5135797000"}, "mail-address": {"street1": "7 W SEVENTH ST", "city": "CINCINNATI", "state": "OH", "zip": "45202"}, "former-company": [{"former-conformed-name": "FEDERATED DEPARTMENT STORES INC /DE/", "date-changed": "19950307"}, {"former-conformed-name": "R H MACY & CO INC", "date-changed": "19950307"}, {"former-conformed-name": "MACY ACQUIRING CORP", "date-changed": "19861124"}]}
As filed with the Securities and Exchange Commission on September 20, 2016
Registration No.
333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC  20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
MACY'S, INC.
(Exact Name of
Registrant as Specified in its Charter)
Delaware
(State or Other Jurisdiction of Incorporation or Organization)
7 West Seventh Street
Cincinnati, Ohio  45202
(Address of
  Principal Executive Offices, Including Zip Code)
13-3324058
(I.R.S. Employer Identification Number)
Macy's,
Inc.  401(
k) RETIREMENT Investment Plan
(Full Title of the Plan)
Dennis J. Broderick, Esq.
Executive Vice President, General Counsel
Macy's, Inc.
7 West Seventh Street
Cincinnati, Ohio  45202
(513) 579-7000
(Name,
Address and Telephone Number, Including Area Code, of Agent for Service)
Indicate by check
mark whether the registrant is a large accelerated filer, an accelerated filer,
a non-accelerated filer, or a smaller reporting company.  See the definitions
of "large accelerated filer," "accelerated filer" and "smaller reporting
company" in Rule 12b-2 of the Exchange Act.  (Check one):
X
Large accelerated filer                                                                                                                      __ 
Accelerated filer
__  Non-accelerated filer (Do not
check if a smaller reporting company)                                    __ 
Smaller reporting company
CALCULATION OF
REGISTRATION FEE
Title of Securities to be Registered
Amount
to be
Registered (1) (2)
Proposed
Maximum
Offering
Price per
Share (3)
Proposed
Maximum
Aggregate
Offering
Price (3)
Amount of
Registration Fee
Common Stock, par value $0.01 per share
10,000,000 shares
$35.325
$353,250,000
$35,573
(1)  Represents the maximum number of shares of common stock, par value $0.01
per share ("Common Stock"), of Macy's, Inc. issuable pursuant to the Macy's,
Inc. 401(k) Retirement Investment Plan (the "Plan") being registered hereon.
(2)  Pursuant to Rule 416(a) of the Securities
Act of 1933, as amended (the "Securities Act"), this Registration Statement
also covers an indeterminate number of shares that may become issuable under
the anti-dilution provisions of the Plan.  In addition, pursuant to Rule 416(c)
under the Securities Act, this Registration Statement also covers an indeterminate
amount of interests to be offered or sold pursuant to the Plan.
(3)  Estimated solely for calculating the amount of the registration fee
in accordance with paragraphs (c) and (h) of Rule 457
under the Securities Act on the basis of $35.325 per share, which was the
average of the high and low prices of the Common Stock as reported on the New
York Stock Exchange - Composite Tape on September 14, 2016, a date within five
(5) business days prior to filing.
Explanatory Note
Macy's, Inc., a Delaware corporation ("Macy's" or the
  "Company"), hereby files this Registration Statement on Form S-8 with the
  Securities and Exchange Commission (the "Commission") to register additional
  securities of the same class as other securities for which a previously filed
  registration statement on Form S-8 relating to the Plan (formerly known as
  the Macy's, Inc. Profit Sharing 401(k) Investment Plan) is effective.
Pursuant to General Instruction E to Form S-8, this
  Registration Statement incorporates by reference the contents of the
  Registration Statement on Form S-8 (Registration No. 333-153719) filed by the
  Company on September 29, 2008 with respect to the Plan, the Registration
  Statement on Form S-8 (Registration No. 333-133080) filed by the Company on
  April 7, 2006 with respect to the Plan and the Registration Statement on Form
  S-8 (Registration No. 333-104017) filed by the Company on March 25, 2003 with
  respect to the Plan, including all attachments and exhibits thereto, with the
  exception of Items 3, 6, 8 and 9 of Part II of such prior registration
  statements, each of which is amended and restated in its entirety herein.
PART II
INFORMATION
  REQUIRED IN THE REGISTRATION STATEMENT
Item 3.  Incorporation of Documents by Reference.
The following documents,
  which the Company or the Plan has filed with the Commission, are incorporated
  by reference into this Registration Statement:
(a)
the Company's Annual Report on Form 10-K for the fiscal
  year ended January 30, 2016 (Commission File No. 001-13536);
(b)
the Plan's Annual Report on Form 11-K for the year ended
  December 31, 2015 (Commission File No. 001-13536);
(c)
the Company's Quarterly Reports on Form 10-Q for the
  quarterly periods ended April 30, 2016 and July 30, 2016 (Commission File No.
  001-13536);
(d)
the Company's Current Reports on
  Form 8-K (Commission File No. 001-13536) filed
  with the Commission on March 3, 2016; March 22, 2016; May 11, 2016 (only with
  respect to the Current Report reporting Items 1.01 and 9.01); May 24, 2016;
  and June 23, 2016; and
(e)
the description of the Common Stock contained in a
  Registration Statement on Form 8-A (Commission File No. 001-13536), filed
  with the Commission on December 12, 1994 and any subsequent
  amendment(s) or report(s) filed for the purpose of updating such description.
In addition, all documents subsequently filed by the
  Company and the Plan pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
  Securities Exchange Act of 1934, as amended, prior to the filing of a
  post-effective amendment that indicates that all securities offered have been
  sold or that deregisters all securities then remaining unsold shall be deemed
  to be incorporated by reference in this Registration Statement and to be a
  part hereof from the date of filing of such documents.  Any statement
  contained in any document incorporated or deemed to be incorporated by
  reference herein will be deemed to be modified or superseded for purposes of
  this Registration Statement to the extent that a statement contained herein
  or in any other subsequently filed document that also is or is deemed to be
  incorporated by reference herein modifies or supersedes such statement.  Any
  such statement so modified or superseded will not be deemed, except as
  modified or superseded, to constitute a part of this Registration Statement.
Item 6.  Indemnification of Directors and Officers.
Section 145 of the Delaware General Corporation Law, which
  is applicable to the Company, provides, in general, that each director and officer
  of a corporation may be indemnified against expenses (including attorneys'
  fees), judgments, fines and amounts paid in settlement actually and
  reasonably incurred in connection with any threatened, pending or completed
  legal proceedings in which he or she is involved by reason of the fact that
  he or she is or was a director or officer, if he or she acted in good faith
  and in a manner that he or she reasonably believed to be in or not opposed to
  the best interests of the corporation, and, with respect to any criminal
  action or proceeding, if he or she had no reasonable cause to believe that
  his or her conduct was unlawful. If the legal proceeding, however, is by or
  in the right of the corporation, the director or officer may not be
  indemnified in respect of any claim, issue or matter as to which he or she
  has been adjudged to be liable to the corporation unless a court determines
  otherwise.  The Company's certificate of incorporation and by-laws provide
  for the indemnification of the Company's directors and officers to the
  fullest extent permitted by applicable law.
Item 8.  Exhibits.
4.1
Amended and Restated Certificate of Incorporation of the
  Company (incorporated herein by reference to Exhibit 3.1 to the Company's
  Current Report on Form 8-K (Commission File No. 001-13536) filed on May 18,
  2010)
4.2
Article Seventh of the Amended and Restated Certificate of
  Incorporation (incorporated herein by reference to Exhibit 3.1 to the
  Company's Current Report on Form 8-K (Commission File No. 001-13536) filed on
  May 24, 2011)
4.3
Amended and Restated By-Laws of the Company (incorporated
  herein by reference to Exhibit 3.1 to the Company's Current Report on Form
  8-K (Commission File No. 001-13536) filed on March 3, 2016)
4.4
4.5
4.6
4.7
4.8
4.9
Macy's, Inc. 401(k) Retirement Investment Plan
  (incorporated herein by reference to Exhibit 10.22 to the Company's Annual
  Report on Form 10-K (Commission File No. 001-13536) for the fiscal year ended
  February 1, 2014)
First Amendment to Macy's, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.21.1 to the
  Company's Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 31, 2015)
Second Amendment to Macy's, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.21.2 to the
  Company's Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 31, 2015)
Third Amendment to Macy's, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.21.3 to the
  Company's Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 31, 2015)
Fourth Amendment to Macy's, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.17.4 to the
  Company's Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 30, 2016)
Fifth Amendment to Macy's, Inc. 401(k) Retirement Investment
  Plan (incorporated herein by reference to Exhibit 10.17.5 to the Company's
  Annual Report on Form 10-K (Commission File No. 001-13536) for the fiscal
  year ended January 30, 2016)
5.1
Opinion of Counsel
23.1
Consents of KPMG LLP
23.2
Consent of Counsel (included in Exhibit 5.1)
24.1
Powers of Attorney
The Company will submit or has submitted the Plan and any
  amendments thereto to the Internal Revenue Service ("IRS") in a timely manner
  and has made or will make all changes required by the IRS in order to qualify
  the Plan under Section 401(a) of the Internal Revenue Code of 1986, as
  amended.
Item 9.  Undertakings.
A.
The Company hereby undertakes:
(1)
To file, during any period in which offers or sales are
  being made, a post-effective amendment to this Registration Statement: (i) to
  include any prospectus required by Section 10(a)(3) of the Securities Act;
  (ii) to reflect in the prospectus any facts or events arising after the
  effective date of the Registration Statement (or the most recent
  post-effective amendment thereof) which, individually or in the aggregate,
  represent a fundamental change in the information set forth in the
  Registration Statement.  Notwithstanding the foregoing, any increase or
  decrease in volume of securities offered (if the total dollar value of
  securities offered would not exceed that which was registered) and any
  deviation from the low or high end of the estimated maximum offering range
  may be reflected in the form of prospectus filed with the Commission pursuant
  to Rule 424(b) if, in the aggregate, the changes in volume and price
  represent no more than 20 percent change in the maximum aggregate offering
  price set forth in the "Calculation of Registration Fee" table in the
  effective Registration Statement; and
(iii) to include any material information with respect to
  the plan of distribution not previously disclosed in the Registration
  Statement or any material change to such information in the Registration
  Statement;
provided
,
however
, that paragraphs (A)(1)(i)
  and (A)(1)(ii) of this section do not apply if the Registration Statement is
  on Form S-8 and the information required to be included in a post-effective
  amendment by those paragraphs is contained in reports filed with or furnished
  to the Commission by the Company pursuant to Section 13 or Section 15(d) of
  the Securities Exchange Act of 1934, as amended, that are incorporated by
  reference in the Registration Statement.
(2)
That, for the purpose of determining any liability under
  the Securities Act, each such post-effective amendment shall be deemed to be
  a new registration statement relating to the securities offered therein, and
  the offering of such securities at that time shall be deemed to be the
  initial
bona fide
offering thereof.
(3)
To remove from registration by means of a post-effective
  amendment any of the securities being registered which remain unsold at the
  termination of the offering.
B.
The Company hereby undertakes that, for purposes of
  determining any liability under the Securities Act, each filing of the
  Company's annual report pursuant to Section 13(a) or Section 15(d) of the
  Securities Exchange Act of 1934, as amended (and, where applicable, each
  filing of an employee benefit plan's annual report pursuant to Section 15(d)
  of the Securities Exchange Act of 1934, as amended), that is incorporated by
  reference in the Registration Statement shall be deemed to be a new
  registration statement relating to the securities offered therein, and the
  offering of such securities at that time shall be deemed to be the initial
bona
  fide
offering thereof.
C.
Insofar as indemnification for liabilities arising under
  the Securities Act may be permitted to directors, officers, and controlling
  persons of the Company pursuant to the foregoing provisions, or otherwise,
  the Company has been advised that in the opinion of the Commission such
  indemnification is against public policy as expressed in the Securities Act
  and is, therefore, unenforceable.  In the event that a claim for
  indemnification against such liabilities (other than the payment by the
  Company of expenses incurred or paid by a director, officer, or controlling
  person of the Company in the successful defense of any action, suit or
  proceeding) is asserted by such director, officer, or controlling person in
  connection with the securities being registered, the Company will, unless in
  the opinion of its counsel the matter has been settled by controlling
  precedent, submit to a court of appropriate jurisdiction the question whether
  such indemnification by it is against public policy as expressed in the
  Securities Act and will be governed by the final adjudication of such issue.
SIGNATURES
The Registrant
. 
  Pursuant to the requirements of the Securities Act, the Company certifies
  that it has reasonable grounds to believe that it meets all of the
  requirements for filing on Form S-8 and has duly caused this Registration
  Statement to be signed on its behalf by the undersigned, thereunto duly
  authorized, in the City of Cincinnati, State of Ohio on September 20, 2016.
MACY'S, INC.
By:
/s/ Dennis J. Broderick
Dennis J. Broderick
Executive Vice President, General Counsel
Pursuant to the requirements of
the Securities Act, this Registration Statement has been signed below by the
following persons in the capacities indicated as of the 20th day of September,
2016.
Signature
Title
*
Terry L. Lundgren
Chairman of the Board, Chief Executive Officer and
  Director
(principal executive officer)
*
Karen M. Hoguet
Chief Financial Officer
(principal financial officer)
*
Felicia Williams
*
Francis Blake
Executive Vice President,
  Controller and Enterprise Risk
(principal accounting officer)
Director
*
Stephen F. Bollenbach
*
John A. Bryant
Director
Director
*
Deirdre P. Connelly
Director
*
Jeffrey Gennette
President and Director
*
Leslie D. Hale
Director
*
William H. Lenehan
Director
*
Sara Levinson
Director
*
Joyce M. Roché
Director
*
Paul C. Varga
Director
*
Craig E. Weatherup
Director
*
Marna C. Whittington
*
Annie Young-Scrivner
Director
Director
*     The undersigned, by signing his name hereto, does
  sign and execute this Registration Statement pursuant to Powers of Attorney
  executed by the above-named persons.
By:
/s/ Dennis J. Broderick
Dennis J. Broderick,
Attorney-in-Fact
Macy's, Inc. 401(k) Retirement
Investment Plan
.  Pursuant to the requirements of the Securities Act, the
Plan administrator has duly caused this Registration Statement to be signed on
its behalf by the undersigned, thereunto duly authorized, in the City of
Cincinnati, State of Ohio on September 20, 2016.
MACY'S, INC. 401(k) RETIREMENT INVESTMENT PLAN
By:
/s/ Dennis J. Broderick
Dennis J. Broderick
Executive Vice President, General Counsel, Macy's, Inc.
INDEX TO EXHIBITS
Exhibit No.
Exhibit
4.1
Amended and Restated Certificate of Incorporation of the
  Company (incorporated herein by reference to Exhibit 3.1 to the Company's
  Current Report on Form 8-K (Commission File No. 001-13536) filed on May 18,
  2010)
4.2
Article Seventh of the Amended and Restated Certificate of
  Incorporation (incorporated herein by reference to Exhibit 3.1 to the
  Company's Current Report on Form 8-K (Commission File No. 001-13536) filed on
  May 24, 2011)
4.3
Amended and Restated By-Laws of the Company (incorporated
  herein by reference to Exhibit 3.1 to the Company's Current Report on Form
  8-K (Commission File No. 001-13536) filed on March 3, 2016)
4.4
4.5
4.6
4.7
4.8
4.9
Macy's, Inc. 401(k) Retirement Investment Plan
  (incorporated herein by reference to Exhibit 10.22 to the Company's Annual
  Report on Form 10-K (Commission File No. 001-13536) for the fiscal year ended
  February 1, 2014)
First Amendment to Macy's, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.21.1 to the
  Company's Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 31, 2015)
Second Amendment to Macy's, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.21.2 to the
  Company's Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 31, 2015)
Third Amendment to Macy's, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.21.3 to the
  Company's Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 31, 2015)
Fourth Amendment to Macy's, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.17.4 to the
  Company's Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 30, 2016)
Fifth Amendment to Macy's, Inc. 401(k) Retirement
  Investment Plan (incorporated herein by reference to Exhibit 10.17.5 to the
  Company's Annual Report on Form 10-K (Commission File No. 001-13536) for the
  fiscal year ended January 30, 2016)
5.1
Opinion of Counsel
23.1
Consents of KPMG LLP
23.2
Consent of Counsel (included in Exhibit 5.1)
24.1
Powers of Attorney
Exhibit
5.1
[Letterhead of Dennis
J. Broderick]
September 20, 2016
Macy's, Inc.
7 West Seventh Street
Cincinnati, OH  45202
Re:
Registration Statement on
Form S-8 Filed by Macy's, Inc.
Ladies and Gentlemen:
In my capacity as General Counsel
of Macy's, Inc., a Delaware corporation (the "
Company
"), I have
acted as counsel for the Company in connection with the registration of
10,000,000 shares (the
"
Shares
"
) of common stock, par value $0.01
per share, of the Company that may be issued or delivered and sold pursuant to
the Macy's, Inc. 401(k) Retirement Investment Plan (the "
Plan
").
In connection with the opinion expressed herein, I have examined such
documents, records and matters of law as I have deemed relevant or necessary
for purposes of such opinion. Based on the foregoing, and subject to the
further limitations, qualifications and assumptions set forth herein, I am of
the opinion that the Shares, when issued or delivered and sold in accordance
with the Plan, against payment of the consideration therefor as provided in the
Plan, will be validly issued, fully paid and nonassessable, provided that the
consideration for the Shares is at least equal to the stated par value thereof.
In rendering this opinion, I have
assumed (i) the authenticity of all documents submitted to me as originals and
the conformity to original documents of all documents submitted to me as copies,
and (ii) that the signatures on all documents examined by me are genuine and
that, where any such signature purports to have been made in a corporate,
governmental, fiduciary or other capacity (other than on behalf of the
Company), the person who affixed such signature to such document had authority
to do so.
I am a member of the bar of the
State of Ohio and have not been admitted to the bar of any other jurisdiction. 
The opinion expressed herein is limited to the General Corporation Law of the
State of Delaware, as currently in effect, and I express no opinion as to the
effects of the laws of any other jurisdiction on the opinion expressed herein. 
In addition, I have assumed that the resolutions authorizing the Company to
issue or deliver and sell the Shares pursuant to the Plan will be in full force
and effect at all times at which the Shares are issued or delivered and sold by
the Company, and that the Company will take no action inconsistent with such
resolutions.  In rendering the opinion expressed herein I have relied, as to
certain matters of fact, without any independent investigation, inquiry or
verification, upon statements or certificates of representatives of the Company
and upon statements or certificates of public officials.
I hereby consent to the filing of
this opinion as Exhibit 5.1 to the Registration Statement on Form S-8 filed by
the Company to effect the registration of the Shares under the Securities Act
of 1933 (the "
Act
").  In giving such consent, I do not thereby
admit that I am included in the category of persons whose consent is required
under Section 7 of the Act or the rules and regulations of the Securities and
Exchange Commission promulgated thereunder.
Very truly yours,
/s/ Dennis J. Broderick
Dennis J. Broderick
Executive Vice President, General
Counsel
Exhibit
23.1
Consent of
Independent Registered Public Accounting Firm
The Board of Directors
Macy's, Inc.:
We consent to the use of our report dated March 30,
2016 with respect to the consolidated balance sheets of Macy's, Inc. and
subsidiaries as of January 30, 2016 and January 31, 2015, and the related
consolidated statements of income, comprehensive income, cash flows, and
changes in shareholders' equity for each of the years in the three-year period
ended January 30, 2016, and the effectiveness of internal control over
financial reporting as of January 30, 2016, incorporated by reference in the
registration statement.
/s/ KPMG LLP
Cincinnati, Ohio
September 16, 2016
Consent of
Independent Registered Public Accounting Firm
The Board of Directors
Macy's, Inc.:
We consent to the use of our report dated June 24,
2016 with respect to the statements of net assets available for benefits of the
Macy's, Inc. 401(k) Retirement Investment Plan as of December 31, 2015 and
2014, and the related statements of changes in net assets available for
benefits for the years then ended, and the supplemental schedule of Form 5500,
Schedule H, line 4i – Schedule of Assets (Held at End of Year) as of December
31, 2015, incorporated by reference in the registration statement.
/s/ KPMG LLP
Cincinnati, Ohio
September 16, 2016
Exhibit
24.1
POWERS
OF ATTORNEY
KNOW ALL MEN BY
THESE PRESENTS, that each of the undersigned directors and/or officers of
MACY'S, INC., a Delaware corporation (the "Company"), does hereby constitute
and appoint DENNIS J. BRODERICK, ANN MUNSON STEINES, and MARY E. TALBOTT, or
any of them, their true and lawful attorneys and agents to do any and all acts
and things and execute any and all instruments which said attorneys and agents,
or any of them, may deem necessary or advisable or which said attorneys and
agents, or any of them, may deem necessary or advisable or which may be
required to enable the Company to comply with the Securities Act of 1933, as
amended, and any rules, regulations or requirements of the Securities and
Exchange Commission in respect thereof, in connection with the filing with the
Securities and Exchange Commission of a Registration Statement on Form S-8
relating to the Macy's, Inc. 401(k)
RETIREMENT INVESTMENT PLAN, including
specifically but without limiting the generality of the foregoing, the power
and authority to sign in the name and on behalf of the undersigned, in his or
her capacity as a director and/or officer of the Company, any such Form S-8 and
any and all amendments and supplements thereto and any other instruments or
documents filed as a part of or in connection therewith, and each of the
undersigned does hereby ratify and confirm all that said attorneys and agents
or any of them, may do or cause to be done by virtue hereof.
IN WITNESS
WHEREOF, each of the undersigned has subscribed these presents as of the 26th
day of August, 2016.
/s/ Francis S. Blake
Francis S. Blake
/s/ Stephen F. Bollenbach
Stephen F. Bollenbach
/s/John A. Bryant
John A. Bryant
/s/ Deirdre P. Connelly
Deirdre P. Connelly
/s/ Karen M. Hoguet
Karen M. Hoguet
/s/ Terry J. Lundgren
Terry J. Lundgren
/s/ Craig E. Weatherup
Craig E. Weatherup
/s/ Annie Young-Scrivner
Annie Young-Scrivner
/s/ Jeffrey Gennette
Jeffrey Gennette
/s/ William H. Lenehan
William H. Lenehan
/s/ Joyce M. Roch
é
Joyce M. Roché
/s/ Marna C. Whittington
Marna C. Whittington
/s/ Leslie D. Hale
Leslie D. Hale
/s/ Sara Levinson
Sara Levinson
/s/ Paul C. Varga
Paul C. Varga
/s/ Felicia Williams
Felicia Williams