Macy’s Beats Expectations as Retail Sales Climb

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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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