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
KMG Chemicals Inc. (KMG) is likely to beat earnings per share or EPS estimates, when it reports first quarter results on December 11, after the bell. First quarter results of KMG are expected to benefit from the impact of Irma and Harvey, and early October fires in the West. Sysco Corp. is looking ahead to own 50 fully electric semi tracks to be launched by Tesla. The new electric tractors could run 500 miles on a single charging. The order from the food service distribution giant that owns more than 7000 trucks is worth up to $10 million. Patreon, the crowdfunding platform for artists, announced Wednesday a change in its payment structure that it says will help creators keep more money. Meanwhile, many are concerned that the change may discourage their patrons from pledging.
comments powered by Disqus
Follow RTT