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Macy’s, Inc. Reports Its Fourth Consecutive Year Of Double-Digit Growth In Earnings Per Share

Sales

Sales in the 14-week fourth quarter of 2012 totaled $9.350 billion, an increase of 7.2 percent, compared with sales of $8.724 billion in the 13-week fourth quarter last year. On a same-store basis – which included comparable 13-week periods this year and last – Macy’s, Inc.’s fourth quarter sales were up 3.9 percent.

The company’s total sales for the 53 weeks of fiscal 2012 totaled $27.686 billion, up 4.9 percent from total sales of $26.405 billion in the 52 weeks of fiscal 2011. On a same-store basis – which included comparable 52-week periods this year and last – Macy’s, Inc.’s fiscal 2012 sales were up 3.7 percent. This is better than initial guidance, provided at the beginning of the year, for sales to be up by approximately 3.5 percent in 2012.

Online sales (macys.com and bloomingdales.com combined) were up 47.7 percent in the fourth quarter and 41.0 percent for fiscal 2012 compared to the same periods in 2011. Online sales positively affected the company’s same-store sales by 3.3 percentage points in the fourth quarter and 2.2 percentage points in fiscal 2012 as a whole. Online sales are included in the same-store sales calculation for Macy's, Inc.

In fiscal 2012, the company opened a total of seven stores and closed eight stores. Two Macy’s stores were opened in Salt Lake City, UT, and Greendale, WI. Five Bloomingdale’s Outlet stores opened in Livermore, CA; Merrimack, NH; Garden City, NY; and Grand Prairie and Dallas, TX. As previously announced, Macy’s stores were closed in Pasadena, CA; Belmont, MA; Honolulu, HI; St. Paul, MN; and Houston, TX. The company closed a Macy’s furniture clearance center in Houston, TX, and a Macy’s men’s and home store in Santa Ana, CA, was closed and consolidated into the main store in the same shopping center. Also closed was a Bloomingdale’s Home Store in Las Vegas, NV.

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