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Macy’s posts 18% rise in Q4 FY’14 EPS

February 25, 2014 (United States Of America)

Macy's, Inc. reported continued sales and earnings growth in the fourth quarter and full year 2013, ended Feb. 1, 2014. In its guidance for 2014, the company expects continued improvement in sales and earnings in the coming year from its core business strategies - My Macy's localization, Omnichannel integration and Magic Selling - which are known by the acronym of M.O.M.

Fourth quarter 2013 earnings were $2.16 per diluted share, or $2.31 excluding items. This represents an increase of 18 percent, or 13 percent excluding items, over the comparable period a year ago. Comparable sales for the fourth quarter of 2013 grew by 1.4 percent, and by 2.3 percent for comparable sales combined with comparable sales from departments licensed to third parties.

For the full year 2013, earnings were $3.86 per diluted share, or $4.00 excluding items. This represents an increase of 19 percent, or 16 percent excluding items, over fiscal 2012. The $4.00 per share exceeds management's initial guidance provided at the beginning of the year for earnings per share, excluding items described below, to be in the range of $3.90 to $3.95 per share in fiscal 2013. Comparable sales for fiscal 2013 grew by 1.9 percent, and by 2.8 percent for comparable sales combined with comparable sales from departments licensed to third parties.

Sales in the 13-week fourth quarter of 2013 totaled $9.202 billion, down 1.6 percent from total sales of $9.350 billion in the 14-week fourth quarter of 2012. On a comparable sales basis, Macy's, Inc.'s fourth quarter sales were up 1.4 percent in 2013 over 2012. Together with sales from departments licensed to third parties, fourth quarter 2013 sales on a comparable basis were up 2.3 percent.

For the 52 weeks of 2013, Macy's, Inc. sales totaled $27.931 billion, up 0.9 percent from total sales of $27.686 billion in the 53 weeks of fiscal 2012. On a comparable sales basis, Macy's, Inc.'s 2013 sales were up 1.9 percent in 2013 over 2012. Together with sales from departments licensed to third parties, 2013 sales on a comparable basis were up 2.8 percent.

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