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88 ROCHELLE R. BRUNSON AND MARLENE M. REED

EXHIBIT 5 Consolidated Balance Sheets (millions as of January 31)
2009 2008
Assets
Current Assets:
Cash and cash equivalents $ 1,306 $ 583
Accounts receivable 439 463
Merchandise inventories 4,769 5,060
Supplies and prepaid expenses 226 218
Total current assets 6,740 6,324
Property and Equipment–net 10,442 10,991
Goodwill 9,125 9,133
Other Intangible Assets–net 719 831
Other Assets 501 510
Total Assets $27,527 $27,789

Liabilities and Shareholders’ Equity
Current Liabilities:
Short-term debt $ 966 $ 666
Merchandise accounts payable 1,282 1,398
Accounts payable and accrued liabilities 2,628 2,729
Income taxes 28 344
Deferred income taxes 224 233
Total Current Liabilities 5,360 6,095
Long-Term Debt 8,733 9,087
Deferred Income Taxes 1,416 1,446
Other Liabilities 2,521 1,989
Shareholders’ Equity: stock
Total Shareholders’ Equity 9,729 9,907
Total Liabilities and Shareholders’ Equity $27,527 $27,789

EXHIBIT 6 Macy’s Closest Competitors

Macy’s Dillard’s J.C. Penney Saks
Market Cap 4.85 B 532 M N/A 5.19 B
Employees 167 T 33 T 155 T 10 T
Qtrly. Rev. Growth -7.70% -5.70% N/A N/A
Revenue 24.69 B 6.99 B 19.86 B 3.03 B
Gross Margin 39.70% 30.92% N/A 32.14%
EBITDA 2.68 B 166.17 M N/A 17.07 M
Operating Margins 5.63% -1.69% N/A -3.88%
Net Income -$4.08 B -$241.07 M $1.11 B -$122.76 M
EPS -$11.403 -$3.245 N/A -$1.120

T = thousand
M = million
B = billion