Industry News Archives

More in Daily Headline


US: Macy saw 12% sales rise in Q4 boosted by holiday sales

Posted by FNA on 24 Feb 2012 

Macy’s Inc. has reported a 12% in its fourth quarter profit buoyed by holiday sales, sources reported.

For the quarter ended Jan. 28, the operator of Macy’s and Bloomingdale’s posted net income of $745 million, or $1.74 a share, compared with $667 million, or $1.55 a share, a year ago. Excluding one-time items, the department store retailer earned $1.70, beating analysts’ average estimate of $1.65.

Net sales rose 5.5% to $8.72 billion, again beating analysts’ estimate for $8.7 billion. Comparable store sales were up 5.2% while online sales (at and soared 40%.

Although online sales are included in comparable store sales, the company noted that its “online sales positively affected the company’s same-store sales by 1.7 percentage points in the fourth quarter.” Gross margin narrowed to 41% from 41.3%.

The company plans to spend about $850 million on capital expenditures this year, including new Macy’s stores in Salt Lake City, and Greendale, Wisconsin, as well as five new Bloomingdale’s Outlet locations.

Comments (0) 
Login to post a comment 

If you have a FashionNetAsia account, please Login. If not, Register Now
Your comment:
* By clicking the "Post button", you agree to be bound by our Disclaimer.
Showroom Updates