logo
Share SHARE
FONT-SIZE Plus   Neg

Macy's Posts Higher Q1 Profit; Backs 2012 EPS View - Quick Facts

Macy's Inc. (M) reported an improvement in its first-quarter 2012 net income to $181 million or $0.43 per share from $131 million or $0.30 per share last year. On average, 16 analysts polled by Thomson Reuters expected earnings per share of $0.40 for the quarter. Analysts' estimates typically exclude one-time items.

Three-month net sales were $6.14 billion, up 4.3 percent from $5.89 billion in the same period a year ago. Analysts estimated revenues of $6.13 billion for the quarter. On a same-store basis, Macy's, Inc.'s first-quarter sales grew 4.4 percent in 2012 over 2011.

For fiscal 2012, the company reiterated its earnings per share forecast, still expecting earnings per share of $3.25 - $3.30, whereas 19 analysts project earnings of $3.41 per share for the full year.

Also, Macy's continues to expect same-store sales to grow by nearly 3.5 percent for the remainder of the year. When added to the first quarter's reported results, fiscal 2012 same-store sales growth as a whole is now expected to be about 3.7 percent, slightly higher than prior view for a same-stores sales rise of some 3.5 percent in fiscal 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Facebook Inc. (FB), Wednesday reported a jump in profit for the second quarter, as the social networking giant's bottom line continues to be driven by soaring ad revenues. Both earnings and revenues trumped Wall Street expectations, sending shares up by 6 percent in the extended hours. Menlo Park,... Boeing Co.(BA) reported a loss for the second-quarter 2016 compared to profit in the prior year, reflecting 787 cost reclassification and charges on the 747 program and the KC-46 Tanker program, partially offset by solid execution and higher volume. It cut its profit outlook for fiscal year 2016, while it reaffirmed annual revenue guidance. Automaker Fiat Chrysler Automobiles NV on Wednesday reported a 25 percent increase in profit for the second quarter from last year. However, quarterly net revenues and worldwide shipments declined from last year.
comments powered by Disqus
Follow RTT