US: Macy's Q4 earnings climb
- Q4 earnings up 11%
- Sales slide 1.6%
- Comparable sales up 1.4%
Macy’s said it had a strong year in 2013
US department store retailer Macy's recorded an increase in earnings in the fourth quarter but results missed analyst expectations as harsh winter weather hit January sales.
In the three months ended 1 February, earnings climbed 11% to US$811m from $730m a year earlier.
Sales slid 1.6% to $9.2bn versus $9.35bn last year. On a comparable basis, sales were up 1.4%.
Wall Street analysts, however, were expecting $2.17 per share on revenue of $9.28bn, according to FactSet.
Nonetheless, CEO Terry Lundgren was upbeat: "Macy's had a strong year in 2013. This was our fifth consecutive year of double-digit growth in earnings per share and our fourth consecutive year of comparable sales growth.
"Once warm spring weather arrives and our full assortment of fresh spring merchandise is in place, we believe customers will return to a more normalized pattern of shopping. But based on our experience in January and early February, we are watching business trends closely."
Macy's reiterated its full-year guidance of comparable sales in the range of 2.5%-3%, and earnings of $4.40 to $4.50 per share.
Abstract About Children’s and Infant Wear Children's wear refers to clothing for children aged between 0 months to 10 years. It includes apparel such as outerwear, underwear, nightwear, socks and t...
This report provides information, analysis and valuable insight on developments relating to the home textile industry in the following categories: acquisitions, divestments and mergers; corporate soci...
Synopsis Canadean's "Jaclyn, Inc. - Company Capsule" contains in depth information and data about the company and its operations. The profile contains a company overview, key facts, major products and...
Inspection, testing and certification company SCS Global Services (SCS) has joined the Sustainable Apparel Coalition (SAC), and will promote its Higg Index sustainability measurement tool to help driv...
This report analyzes the worldwide markets for Children's Wear in US$ Million by the following Product Segments: Boys Wear, Girls Wear, and Infants & Toddlers Wear. The report provides separate compre...
- What the EU-Vietnam trade deal means for duties
- Ultimate frontier Myanmar uplifts Bogart Lingerie
- US apparel import growth led by Bangladesh
- Esquel backs Chinese Sea Island cotton production
- US apparel retailers' January 2016 sales roundup
- Sears looks to lift apparel via sourcing changes
- Direct sourcing helps M&S narrow the gap with Next
- Eco-friendly garment factory opens in Bangladesh
- Clothing and sports chains in activewear battle
- Nike accelerates digital strategy with new hire
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Wearable technology: The future market potential for smart garments and e-textiles
- Global market review of denim and jeanswear – forecasts to 2021
- Practical Price Negotiation
- Wearable Technology Market by Product, Application, Type, & Geography - Global Forecast to 2020