This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: M

For the 52 weeks of fiscal 2013, Macy’s, Inc. earned $3.86 per diluted share. Earnings per diluted share were $4.00 for fiscal 2013, excluding pre-tax expenses and asset impairment charges of $88 million ($54 million after tax or 14 cents per diluted share) associated with previously announced store closings, cost reduction initiatives and related items.

For the 53 weeks of fiscal 2012, Macy’s, Inc. earned $3.24 per diluted share. Earnings per diluted share were $3.46 for fiscal 2012, excluding pre-tax expenses of $137 million ($87 million after tax or 21 cents per share) associated with the early retirement of approximately $873 million of outstanding debt, and asset impairment charges and other costs and expenses of approximately $5 million ($3 million after tax or 1 cent per share) related primarily to store closings.

Cash Flow

Net cash provided by operating activities was $2.549 billion in fiscal 2013, compared with $2.179 billion in fiscal 2012. Net cash used by investing activities in fiscal 2013 was $788 million, compared with $781 million in the previous year. Thus, net cash provided before financing activities was $1.761 billion in fiscal 2013, compared with $1.398 billion in fiscal 2012.

Capital expenditures were below plan by $62 million in fiscal 2013, and the company expects that approximately $50 million of this amount will be added to 2014.

In fiscal 2013, the company repurchased approximately 33.6 million shares of its common stock for approximately $1.6 billion. At Feb. 1, 2014, the company had remaining authorization to repurchase up to approximately $1.4 billion of its common stock.

Looking Ahead

The company is reiterating its annual sales and earning guidance, initially provided on January 8, 2014. Comparable sales growth in fiscal 2014 is expected in the range of 2.5 percent to 3 percent. Earnings of $4.40 to $4.50 per share are expected in 2014. Capital expenditures for 2014 are expected to be approximately $1.05 billion, which includes amounts delayed from 2013.

5 of 9

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs