Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade M now with 

Macy's Inc. (M: Quote) 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.

Click here to receive FREE breaking news email alerts for Macy's Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A ban on athletes using stamina-boosting gases - xenon and argon - came into effect on Monday. The World Anti-Doping Agency (WADA) said Hypoxia-Inducible Factor (HIF) activators Xenon and Argon have been added to the 2014 List of Prohibited Substances and Methods List following the required three-month notice period and UNESCO's communication to all States Parties. A recommendation to revise the British manufacturing growth eased further in August to its lowest level in 14 months as output and demand increased at slower rates, survey results from Markit Economics showed Monday. The Markit/CIPS Purchasing Managers' Index dropped to 52.5 from a revised 54.8 in July. Economists had expected the score to fall to 55.1 from July's original figure of 55.4. Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.