Home / Knowledge / News / Apparel/Garments / Q2FY17 sales down 3.9% at apparel retailer Macy's
Q2FY17 sales down 3.9% at apparel retailer Macy's
12
Aug '16
Sales in the quarter ended July 2, 2016 at apparel retailer Macy's totaled $5.86 billion, down 3.9 per cent, compared with sales of $6.104 billion in the same period last fiscal.

Comparable sales on an owned plus licensed basis too fell 2.0 per cent in the reporting quarter, while on an only owned basis; comparable sales declined 2.6 per cent.

“The difference between the year-over-year change in total and comparable sales largely resulted from the closing of 41 under performing Macy's stores in fiscal 2016,” the retailer explained.

In the second quarter of fiscal 2017, operating income reached $117 million or 2.0 per cent of sales as against operating income of $436 million or 7.1 per cent of sales in the prior fiscal' second quarter.

Excluding asset impairment and other charges of $154 after tax and non-cash settlement charges of $3 million after tax, operating income was $372 million or 6.4 percent of sales for the quarter under review.

The apparel retailer reported diluted earnings per share of 3 cents in the reporting period and excluding asset impairment and non-cash retirement plan settlement charges, earnings per share were 54 cents. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Pic:  TonelsonProductions / Shutterstock.com

Apparel/Garments | On 16th Apr 2021

CPTPP boosts Vietnam's exports, pandemic a mild dampener

Vietnam's exports to its partners in the Comprehensive and...

Pic: Smartwool

Apparel/Garments | On 16th Apr 2021

US merino wool apparel maker Smartwool to go 100% circular by 2030

Smartwool, a Denver, US-based maker of merino wool apparel for active ...

Pic: Steve Madden

Apparel/Garments | On 16th Apr 2021

US company Steve Madden acquires remaining share of European JV

Steve Madden Ltd, a leading designer and marketer of fashion-forward...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Estimate loss of $8-$10 billion in turnover

Textile Industry, Head honchos

Textile Industry
Head honchos

Indian apparel industry looks poised for slow death

Textile Industry, Head honchos

Textile Industry
Head honchos

Wearables have very limited reach

Ritu Oberoi,

Ritu Oberoi

Mumbai-based Forsarees is a socially driven business enterprise, working...

Prakhar Singh,

Prakhar Singh

Morgan Tecnica offers the largest and most modern range of solutions for...

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah & Sandeep is a luxury menswear label...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

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

Leave your Comments


April 2021

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


Advanced Search