Home / Knowledge / News / Apparel/Garments / Macy's inks sixth year of adjusted EPS double-digit growth
Macy's inks sixth year of adjusted EPS double-digit growth
28
Feb '15
NYSE listed and US based apparel retailer, Macy’s, Inc said it reported its sixth consecutive year of double-digit growth in adjusted earnings per share in the fiscal month ended January 31, 2015.

According to Macy’s, in fiscal 2014, the company attained its long-term profitability target and has now turned its focus to driving additional profitable sales growth through a series of businesses initiatives.

For the full fiscal, earnings reached $4.22 per diluted share, or $4.40 by excluding items, which represents a rise of 9 per cent or 10 per cent, when excluding items over its previous fiscal.

Macy’s said the $4.40 per share is in line with management’s initial guidance provided at the beginning of the year, excluding items and has bettered from revised guidance given at end of third quarter.

“For the 52 weeks of 2014, Macy’s, Inc. sales totaled to $28.105 billion, up by just 0.6 per cent from $27.931 billion in last fiscal,” the retailer informed in a press release.

Sales in the 13-week fourth quarter of 2014 totaled $9.364 billion, up 1.8 per cent as against $9.202 billion in the fourth quarter of 2013.

Comparable sales growth on an owned plus licensed basis for the fourth quarter was 2.5 per cent and on an owned basis, fourth quarter comparable sales grew 2.0 per cent over 2013.

For the fiscal under review, the apparel retailer’s operating income climbed to $2.800 billion or 10.0 per cent of sales, compared with $2.678 billion or 9.6 per cent of sales for last fiscal.

Macy’s operating income includes expenses and asset impairment charges of $87 million associated with merchandising and marketing restructuring, store and field adjustments, and store closings.

Of this $87 million, $33 million was related to non-cash write-offs related primarily to store closings. Excluding these items, operating income for fiscal 2014 was $2.887 billion or 10.3 per cent of sales.

“Macy’s reached a milestone in 2014 by achieving a 14 per cent adjusted EBITDA rate, which positions us among best-in-class retailers,” said Terry Lundgren, CEO at Macy’s, Inc.

He added, “Our success in progressively increasing sales with double-digit increases in profitability in recent years has been the result of disciplined execution of our M.O.M. strategies and continuous improvement.”

“Having now reached such a healthy profitability rate, we are shifting our resources and energies to growing the topline faster while maintaining this high profitability rate level,” he observed.

Macy’s has now fully aligned its management team to fuel organic growth within its existing omnichannel business as customer shopping patterns evolve at both Macy’s and Bloomingdale’s.

It has established an entirely new part of its organisation to lead innovation and new growth initiatives, including off-price, international and new store formats.

The apparel retailer expects some of these new activities to enter start-up phases later in 2015 and said it remains committed to succeeding in a test-and-learn environment. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Marcel Alberts
Eurofibers

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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