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TheStreet Open House

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

Stocks in this article: M

“As previously announced, our company’s comparable sales together with comparable sales from departments licensed to third parties rose by 4.3 percent in the combined November/December holiday shopping period and November/December comparable sales were up by 3.6 percent. While we had expected a sales decline in January because of the calendar shift, the month was down further than we had expected and we are very disappointed with sales performance in January. In part, poor January sales were due to the unusually harsh winter weather across much of the country. At one time or another during January, 244 Macy’s and Bloomingdale’s stores were closed because of weather, and the business remained sluggish until Valentine’s Day,” he said. “Once warm spring weather arrives and our full assortment of fresh spring merchandise is in place, we believe customers will return to a more normalized pattern of shopping. But based on our experience in January and early February, we are watching business trends closely.

“As has been the case since we began implementing these strategies in the 2008/2009 period, our competitive advantage is in the unique combination of localization, omnichannel and enhanced customer engagement. Customers are able to shop for and buy the products that they want and prefer in our stores, via mobile devices and on computers in a shopping environment that delivers outstanding value and is supported with great service,” Lundgren said. “Our M.O.M. strategy is enabled by a unique organizational structure which is unlikely to be copied by our competitors because of the financial resources and talent required. We have been developing M.O.M. for years, and it is an enduring formula that we believe continues to hold significant promise for the future.”

Sales

Sales in the 13-week fourth quarter of 2013 totaled $9.202 billion, down 1.6 percent from total sales of $9.350 billion in the 14-week fourth quarter of 2012. On a comparable sales basis, Macy’s, Inc.’s fourth quarter sales were up 1.4 percent in 2013 over 2012. Together with sales from departments licensed to third parties, fourth quarter 2013 sales on a comparable basis were up 2.3 percent.

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