Home / Knowledge / News / Apparel/Garments / Macy's Q1 FY'13 sales rise just 4%
Macy's Q1 FY'13 sales rise just 4%
16
May '13
Macy’s, Inc. reported higher sales and earnings for the first quarter of 2013, the 13-week period ended May 4, 2013.

Based on the ongoing momentum in our business, as well as confidence in our future performance, the company also announced a 25 percent increase in its dividend on common stock and a $1.5 billion increase in its share repurchase authorization.

Earnings for the quarter were 55 cents per diluted share, an increase of 28 percent compared with 43 cents per diluted share in the same period last year. Comparable sales grew by 3.8 percent from the first quarter last year.

“The first quarter demonstrated our ability to continue to build on our success over the past few years in growing sales and earnings. Based on the effectiveness of strategies we have in place, we are confident that momentum will continue going forward, which is reflected in the actions we are announcing to increase returns to our shareholders through an increased dividend and share repurchases,” said Terry J. Lundgren, Macy’s, Inc. chairman, president and chief executive officer.

“We are especially pleased with our first quarter sales and earnings performance given the challenges we overcame in this period. These included sustained, unseasonably cool spring weather in our northern climate zones. In addition, we saw weakness among some of the most budget-conscious consumers, as well as among our higher household income Bloomingdale’s customers.

"We are continuing to pursue myriad new growth opportunities within our time-tested M.O.M. strategies (My Macy’s, Omnichannel and Magic Selling). These strategies continue to work individually – and in unison – at Macy’s to meet the needs of customers seeking fashion, quality, value and convenience,” Lundgren said.

Sales

Sales in the first quarter of 2013 totaled $6.387 billion, an increase of 4.0 percent, compared with sales of $6.143 billion in the same period last year. On a comparable sales basis, Macy’s, Inc.’s first quarter sales were up 3.8 percent in 2013 over 2012.

Comparable sales include net sales from stores open at least one full fiscal year, as well as online sales at macys.com and bloomingdales.com.

In the first quarter of 2013, Macy’s opened a new store in Victorville, CA.

Macy's, Inc

Must ReadView All

Textiles | On 21st Feb 2017

Net profit at Indorama Ventures zooms 145% in 2016

Net profit at Thailand headquartered and Aloke Lohia led Indorama...

Information Technology | On 21st Feb 2017

ThreadSol launches IntelloBuy & IntelloCut in Vietnam

ThreadSol, the pioneer of enterprise material management for sewn...

Textiles | On 21st Feb 2017

GST to reduce documentation for logistics firms: CBRE

The Goods and Services Tax (GST) is likely to result in a reduction...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sonam & Paras Modi
SVA

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

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 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search