Home / Knowledge / News / Apparel/Garments / Macy's enjoys best spring & quarter in a decade
Macy's enjoys best spring & quarter in a decade
Aug '11
Macy's Inc. reported earnings of 55 cents per diluted share for the second quarter of 2011, ended July 30, 2011. This represents a 57 percent increase in earnings per share from earnings of 35 cents per diluted share in the second quarter of 2010. Sales, operating income, net income and cash flow all exceeded expectations in the most recent quarter, as well as in the first half of 2011.

"This was our most successful second quarter and spring season in more than a decade. Importantly, it came on top of an impressive first half performance last year. To date this year, we have driven significant additional sales growth, gained market share, maintained strong margins, managed expenses and generated a very healthy level of cash," said Terry J. Lundgren, Macy's, Inc. chairman, president and chief executive officer. "We have moved quickly to establish a culture of growth at Macy's, Inc. since reorganizing the company in 2008 and 2009, and yet we feel we are just beginning to take advantage of the benefits we envision.

"All of our key strategies are working - and working in unison - to help us better understand our customers, deliver the assortments and value they want and expect, and engage them in stores, online and via mobile devices with a shopping experience that is convenient and compelling. Our Macy's and Bloomingdale's brands are continuing to evolve, testing new ideas and developing the extraordinary level of talent and expertise within our company. All of these factors have helped us to overcome an economic environment that remains sluggish. As we continue to closely monitor developments in the economy and financial markets, we are cautious but optimistic about this fall and are staying focused on those factors we can control," Lundgren said.

For the first half of 2011, Macy's, Inc.'s diluted earnings per share were 86 cents, an increase of 115 percent compared with earnings of 40 cents per share in the first half of 2010.


Sales in the second quarter totaled $5.939 billion, up 7.3 percent from total sales of $5.537 billion in the second quarter of 2010. On a same-store basis, Macy's, Inc.'s second quarter sales were up 6.4 percent.

For the year to date, Macy's, Inc. sales totaled $11.828 billion, up 6.5 percent from total sales of $11.111 billion in the first 26 weeks of 2010. On a same-store basis, Macy's, Inc.'s year-to-date sales were up 5.9 percent.

Online sales were up 40.2 percent in the second quarter and 39.2 percent in the first half of 2011. Online sales positively affected the company's same-store sales by 1.2 percentage points in the second quarter and 1.3 percentage points in the year to date. Online sales are included in the same-store sales calculation for Macy's, Inc.

The company opened no new stores in the first half of 2011, and reopened a Macy's store in Warwick, RI, following flood damage in 2010. The company closed a Macy's furniture gallery in San Antonio, TX, and a furniture clearance center in Naperville, IL. Both businesses were transitioned into nearby Macy's stores. In the second half of 2011, the company is opening three new Bloomingdale's Outlet stores, as previously announced.

Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search