Macy’s Beats Expectations as Retail Sales Climb

February 26, 2013

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Macy’s (NYSE:M) reported fourth-quarter and full-year results on Tuesday morning that had investors bidding shares up as much as 4.2 percent. Here’s a quick rundown of the results:

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Fourth-quarter earnings increased 5.75 percent year over year to $1.84 per diluted share. Revenue grew 7.18 for the same period. Same-store sales increased 3.9 percent.

	Jan. 31, 2012	Apr. 30, 2012	Jul. 31, 2012	Oct. 31, 2012	Jan. 31, 2013
Revenue ($) in millions	8,724	6,143	6,118	6,075	9,350
Diluted EPS ($)	1.74	0.43	0.67	0.36	1.84

Full-year earnings experienced double-digit growth for the fourth consecutive year, and added another $1 billion to sales. Same-store sales were up 3.7 percent, ahead of the company’s guidance. Online sales increased 41.0 percent for the year.

(FY ended Feb. of:)	2008	2009	2010	2011	2012	2013
Revenue ($) in millions	26,313	24,892	23,489	25,003	26,405	27,686
Diluted EPS ($)	1.98	(11.40)	0.83	1.98	2.92	3.24

Looking ahead, Macy’s “is assuming same-store sales growth of approximately 3.5 percent in fiscal 2013. Guidance for earnings per diluted share in fiscal 2013 is $3.90 to $3.95. Capital expenditures for the year are expected to be approximately $925 million.”

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