Macy's online sales climb 41% in FY'13

27 Feb '13

4 min read

For the 53 weeks of fiscal 2012, Macy’s, Inc.’s operating income totaled $2.661 billion, compared with operating income of $2.411 billion for the 52 weeks of fiscal 2011. Macy’s, Inc.’s fiscal 2012 operating income included expenses of $5 million primarily from asset impairment and store closing costs.

Excluding these costs, operating income for fiscal 2012 was $2.666 billion or 9.6 percent of sales. Macy’s, Inc.’s fiscal 2011 operating income included gains of $54 million from the sale of store leases and costs of $29 million in asset impairment and other store closing costs. Excluding these gains and costs, operating income for fiscal 2011 was $2.386 billion or 9.0 percent of sales.

Looking Ahead

The company is assuming same-store sales growth of approximately 3.5 percent in fiscal 2013. Guidance for earnings per diluted share in fiscal 2013 is $3.90 to $3.95. Capital expenditures for the year are expected to be approximately $925 million.

In fiscal 2013, the company has announced plans for new Macy’s stores in Victorville, CA, and Gurnee, IL, as well as a Macy’s Men’s Store in Las Vegas, NV. A new Macy’s will open in Bay Shore, NY, to replace a previous location. Bloomingdale’s will open a new store in Glendale, CA, and a new Bloomingdale’s Outlet store in Rosemont, IL.

Macy's, Inc

More Macys.com, Inc., News... More Apparel/Garments News - United States Of America...