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MAGIC Selling receives good response at Macy's
10 May '12
4 min read
The company repurchased approximately 5.4 million shares of its common stock for a total of approximately $214 million in the first quarter of 2012. At April 28, 2012, the company had remaining authorization to repurchase up to approximately $1.138 billion of its common stock.
Looking Ahead
The company continues to expect same-store sales to grow by approximately 3.5 percent for the remainder of the year. When added to the first quarter's reported results, same-store sales growth for fiscal 2012 as a whole now is expected to be approximately 3.7 percent - slightly higher than previous guidance for a same-stores sales increase of approximately 3.5 percent in fiscal 2012. The company reiterates its guidance for earnings per diluted share in fiscal 2012 of $3.25 to $3.30.
Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2011 sales of $26.4 billion. The company operates about 840 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's, as well as the macys.com and bloomingdales.com websites. The company also operates seven Bloomingdale's Outlet stores.
Looking Ahead
The company continues to expect same-store sales to grow by approximately 3.5 percent for the remainder of the year. When added to the first quarter's reported results, same-store sales growth for fiscal 2012 as a whole now is expected to be approximately 3.7 percent - slightly higher than previous guidance for a same-stores sales increase of approximately 3.5 percent in fiscal 2012. The company reiterates its guidance for earnings per diluted share in fiscal 2012 of $3.25 to $3.30.
Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2011 sales of $26.4 billion. The company operates about 840 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's, as well as the macys.com and bloomingdales.com websites. The company also operates seven Bloomingdale's Outlet stores.
Macy's inc
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