Home / Knowledge / News / Apparel/Garments / Macy's Q1'FY14 diluted EPS boosts 9%
Macy's Q1'FY14 diluted EPS boosts 9%
14
May '14
Macy’s, Inc. reported earnings of 60 cents per diluted share for the first quarter of 2014, the 13-week period ended May 3, 2014, an increase of 9 percent compared with earnings of 55 cents per diluted share in the first quarter of 2013.
 
Based on expectations for continued strong performance in 2014, 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.
 
“Overall, business trends were soft in January through March, with the exception of the Valentine’s Day shopping period. The trend improved in April when the weather began to turn in northern climate zones. We see this as a good sign moving forward into the second quarter. In addition to weather, first quarter comparisons were negatively impacted by a calendar shift for our popular Friends & Family event and the fact that we were up against a very strong first quarter last year,” said Terry J. Lundgren, Macy’s, Inc. chairman and chief executive officer.
 
“We continue to have a positive outlook for 2014 and are reaffirming the full-year guidance we provided in January. The fundamentals of our business and our ongoing strategies remain strong. This, combined with the momentum we have built over the past five years, leads us to feel confident about the company’s prospects. Our Board shares this confidence and increased our dividend and share repurchase authorization to provide an even greater return for our shareholders,” Lundgren said.
 
Sales
Sales in the first quarter of 2014 totaled $6.279 billion, a decrease of 1.7 percent, compared with sales of $6.387 billion in the same period last year. On a comparable sales basis, Macy’s, Inc.’s first quarter sales were down 1.6 percent in 2014 compared with 2013. Together with sales from departments licensed to third parties, first quarter 2014 sales on a comparable basis were down 0.8 percent.
 
In the first quarter of 2014, Macy’s consolidated two stores in the same mall in Houston, TX, into one location as part of a mall redevelopment project.
 
Click here to view full results.
 

Macy's

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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