Macy's Inc. (M) reported that same-store sales for the month of January increased 3.4%. Total sales were $1.255 billion , up 3.4% from $1.213 billion in the year ago period.
For the 13-week fourth quarter of fiscal 2009, Macy's, Inc.'s sales totaled $7.851 billion, down 1.0% from total sales of $7.934 billion for the final 13 weeks of 2008. On a same-store basis, the company's fourth quarter sales were down 0.8%.
The company now expects fourth quarter earnings per share to be $1.35 to $1.37, excluding restructuring-related costs, compared with previous guidance of $1.14 to $1.18 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $1.18 per share for the quarter. Analysts' estimates typically exclude special items.
For fiscal 2009, the company now expects earnings per share to be $1.36 to $1.38, excluding restructuring-related costs, compared with previous guidance of $1.15 to $1.19 per share. Analysts expect the company to report earnings of $1.18 per share for fiscal 2009.
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