Home / Knowledge / News / Apparel/Garments / Future remains difficult - Macy's President
Future remains difficult - Macy's President
28
Apr '10
Macy's, Inc provided updated sales and earnings guidance for the first quarter and full year of fiscal 2010.

For the first quarter, which ends May 1, the company continues to expect same-store sales to be up by approximately 5 percent. This is consistent with previous guidance provided on April 8.

First quarter earnings per diluted share are expected to be approximately break-even. This includes $27 million in premium and fees related to repurchase of debt, as previously announced. In last year's first quarter, the company lost 16 cents per diluted share, excluding restructuring charges.

"Our very strong results so far this year reflect continued progress on our key strategic initiatives, including My Macy's localization and multichannel integration," said Terry J. Lundgren, chairman, president and chief executive of Macy's, Inc. "We believe we still are in the early stages of implementation of our new strategies, which were enabled by the unification of the Macy's organization at this time last year. Thus, we are optimistic about the company's ongoing ability to grow sales and earnings and capture market share."

While predicting the future remains difficult amid macro-economic uncertainty, Macy's, Inc. now expects same-store sales for full-year fiscal 2010 to grow in the range of 3 to 3.5 percent. This compares with previous guidance for sales growth in the range of 1 percent to 2 percent in fiscal 2010. Guidance for earnings per diluted share in fiscal 2010 now is $1.75 to $1.80. This compares to previous full-year guidance for earnings of $1.55 to $1.60 per diluted share.

Macy's Inc

Must ReadView All

Textiles | On 22nd Feb 2017

Bangladesh exporters want duty-free access to US, Brazil

Garment and apparel exporters of Bangladesh are seeking duty-free...

Textiles | On 22nd Feb 2017

India to produce 341 lakh bales cotton in 2016-17: CAI

The Cotton Association of India (CAI) has maintained in its January...

Textiles | On 22nd Feb 2017

'India to be self-sufficient in silk production by 2020'

Indian could be self-sufficient in silk production by the year 2020...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Sanjay Yagnik
Maa Tex Speciality

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Sonam & Paras Modi
SVA

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

Bani Batra

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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