Macy's, Inc. Reports Sales Results for the Five Weeks and Year to Date Ended December 29, 2012; Revised Earnings Guidance for the Fourth Quarter of 2012
January 03, 2013 at 08:00 am EST
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Macy's, Inc. reported sales results for the five weeks and year to date ended December 29, 2012. For the five weeks, the company reported total sales of $5.102 billion, an increase of 3.6% compared with total sales of $4.923 billion in the five weeks ended Dec. 31, 2011. On a same-store basis, the company sales were up 4.1% in December as compared to December 2011. Same-store sales increased by 2.5% for November and December 2012 combined as compared to the same period in 2011.
For the year to date, the company sales totaled $25.887 billion, up 3.3% from total sales of $25.068 billion in the first 48 weeks of 2011. On a same-store basis, the company's year-to-date sales were up 3.3%. Online sales were up 51.7% in December and 40.4% in 2012 year-to-date compared with the same periods in 2011.
The company now expects same-store sales for the fourth quarter of 2012 to increase by between 3% and 3.5%. This compares with previous guidance for fourth quarter sales to be up by approximately 4.2%. Earnings per diluted share for the fourth quarter now are expected to be in the range of $1.91 to $1.96, excluding costs associated with the previously announced debt tender offer and the store closings announced on January 3, 2013. This compares with previous earnings guidance in the range of $1.94 to $1.99 per diluted share, excluding those costs. Including the 21 cents per diluted share for costs associated with the debt tender offer and store closings, earnings per diluted share for the fourth quarter of 2012 are now expected to be in the range of $1.70 to $1.75.
Macy's, Inc. is an omni-channel retail company. The Company operates stores, websites and mobile applications under three brands, Macy's, Bloomingdale's and Bluemercury, which sell a range of merchandise, including apparel and accessories (men's, women's and kids'), cosmetics, home furnishings and other consumer goods. The Company has stores in 43 states, the District of Columbia, Puerto Rico and Guam. Its operations are conducted through Macy's, Macy's Backstage, Macy's small format, Bloomingdale's, Bloomingdale's The Outlet, Bloomie's, and Bluemercury. In addition, Bloomingdale's in Dubai, United Arab Emirates and Al Zahra, Kuwait are operated under a license agreement with Al Tayer Insignia. The principal private label brands offered by the Company include Alfani, And Now This, Aqua, Bar III, Belgique, Cerulean 6, Charter Club, Club Room, Epic Threads, Family PJ's, first impressions, Giani Bernini, Holiday Lane, Home Design, Hotel Collection, Hudson Park, Ideology, and others.
Macy's, Inc. Reports Sales Results for the Five Weeks and Year to Date Ended December 29, 2012; Revised Earnings Guidance for the Fourth Quarter of 2012