Home / Knowledge / News / Apparel/Garments / Macy's enjoys terrific holiday selling season
Macy's enjoys terrific holiday selling season
22
Feb '12
Macy's Inc reported its third consecutive year of significantly improved financial performance. Sales, earnings and cash flow for 2011, including the fourth quarter, exceeded management's expectations and represented continued progress as the company continues to capture market share from its competitors.

"We have more than doubled our earnings over the past three years, driven by innovative strategic initiatives that are being executed with discipline at both Macy's and Bloomingdale's. Our diluted earnings per share, adjusted for certain items, grew by 36 percent in fiscal 2011, on top of double-digit increases in each of 2009 and 2010," said Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc.

"Our year was punctuated with a terrific holiday selling season as our customers responded to our assortment of most-wanted merchandise for gifts and self-purchase, as well as compelling marketing campaigns. We clearly saw the tangible progress of our My Macy's localization, omnichannel integration of stores, online and mobile, and MAGIC Selling, which have been driving our business over the past two years," he said.

"Our very talented organization is energized by our back-to-back-to-back years of progress in serving the needs of our customers, individually by location and whenever and however they prefer to shop. As we enter 2012, we are poised to continue to innovate in delivering outstanding fashion, the best and most-wanted brands, game-changing technology and a level of service that customers have grown to expect from Macy's and Bloomingdale's."

"We believe this will be another exciting year in every aspect of growing our business. This includes our online business, which we expect will exceed $2 billion in sales in 2012," Lundgren added.

Earnings were $1.74 per diluted share for the 13-week fourth quarter of 2011, ended Jan. 28, 2012. Diluted earnings per share were $1.70 in the fourth quarter of 2011, excluding pre-tax gains of approximately $54 million ($34 million after tax or 8 cents per share) from the sale of store leases related to the 2006 divestiture of Lord & Taylor, and approximately $29 million in pre-tax expenses ($18 million after tax or 4 cents per share) primarily related to store closings announced on Jan. 4.

Click here to read more details:

Macy's Inc


Must ReadView All

Uzbekistan wants joint ventures with Hungarian textile firms

Textiles | On 20th Feb 2018

Uzbekistan wants joint ventures with Hungarian textile firms

Uzbekistan has offered Hungary to create joint ventures in the two...

Vietnam’s textile & garment exports up 10.68% in 2017

Textiles | On 20th Feb 2018

Vietnam’s textile & garment exports up 10.68% in 2017

Vietnam came very close to achieving its 2017 textile and garment...

From left: Tania Polonnowita Wettimuny, MD, Hellmann Sri Lanka; Bart de Vries, Global COO Air & Sea Hellmann; Deshamanya Mahesh Amalean, Chairman, MAS Holdings; & Shirendra Lawrence, COO, MAS Holdings

Textiles | On 20th Feb 2018

Hellmann and MAS form joint venture HMSC

Hellmann Worldwide Logistics and MAS Holdings have formed Hellmann...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Hardik Sanghvi

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

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Kevin Nelson
TissueGen

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra
Huemn

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

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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

February 2018

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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