Home / Knowledge / News / Apparel/Garments / Macy's net income falls 31.52% in Q4 FY15
Macy's net income falls 31.52% in Q4 FY15
27
Feb '16
Courtesy: Macy
Courtesy: Macy's
Macy's, a leading apparel retailer based in the US, reported a fall of 31.52 per cent in its net income to $543 million in the fourth quarter of fiscal 2015, ending on January 30, 2016 as compared to $793 million in the corresponding period last fiscal, according to a press statement released by the retailer.

Diluted EPS, attributable to its shareholders, was reported to be $1.73 in the fourth quarter of FY15 as compared to $2.26 in the corresponding quarter of fiscal 2015, a fall of 23.45 per cent.

Operating income for the quarter was $936 million as compared to $1,364 million in the same period of the prior fiscal, a fall of 31.37 per cent.

Net sales for Q4 stood at $8,869 million as compared to $9,364 million in the prior fiscal, a fall of 5.58 per cent.

Commenting on the results, Terry Lundgren, chairman and CEO of Macy's said, “While 2015 was challenging, our sales trend improved in January as the weather turned colder in northern climate zones and Macy's and Bloomingdale's were well-stocked in coats, boots, sweaters, gloves, hats and other seasonal goods. As the year ended, our inventories were in good shape (up by 0.7 percent on a comp basis).”

“We are encouraged by the way the business responded going into 2016, and we believe we are well positioned to stabilise sales levels this year as we lay the foundation for enhanced shareholder value and sustained, long-term profitable growth,” he added.

Earnings of $3.80 to $3.90 per diluted share are expected in 2016. (MCJ)

Fibre2Fashion News Desk - India


Must ReadView All

India's garment exports up 24.93% in September 2017

Textiles | On 16th Oct 2017

India's garment exports up 24.93% in September 2017

The exports of readymade garments from India in September 2017 was...

Low GST rate on zari will generate jobs for women: SRTEPC

Textiles | On 16th Oct 2017

Low GST rate on zari will generate jobs for women: SRTEPC

There will be a rise in the employment for women with the slash in...

Consumers may suffer if no assurance to EU workers in UK

Apparel/Garments | On 16th Oct 2017

Consumers may suffer if no assurance to EU workers in UK

Consumers may suffer if the British Government does not quickly offer ...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.9%
No
13.8%
Skip
9.2%

Total Votes: 65

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
27.7%
Skip
10.8%

Total Votes: 65

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.6%
No
10.8%
Skip
4.6%

Total Votes: 65

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
73.8%
No
12.3%
Skip
13.8%

Total Votes: 65


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search