Macy's 2013 comparable sales up 1.9 percent

REPORT_ Macy’s has reported continued sales and earnings growth in the fourth quarter and full year 2013, ended February 1, 2014. In its guidance for 2014, the company expects continued improvement in sales and earnings in the coming year from its core business strategies. For the

full year 2013, earnings were 3.86 dollars per diluted share, or 4 dollars, representing an increase of 19 percent or 16 percent. Comparable sales for fiscal 2013 grew by 1.9 percent, and by 2.8 percent for comparable sales combined with comparable sales from departments licensed to third parties.

Fourth

quarter 2013 earnings were 2.16 dollars per diluted share, or 2.31 dollars, representing an increase of 18 percent, or 13 percent, over the comparable period a year ago. Comparable sales for the fourth quarter of 2013 grew by 1.4 percent, and by 2.3 percent for comparable sales combined with comparable sales from departments licensed to third parties.

“Macy’s had a strong year in 2013, and we are proud of the continued improvement in our ability to serve evolving customer needs at Macy’s and Bloomingdale’s. This was our fifth consecutive year of double-digit growth in earnings per share and our fourth consecutive year of comparable sales growth. In fact, our total sales have grown by more than 4.4 billion dollars in the past four years,” said Terry J. Lundgren, Chairman, President and Chief Executive Officer of Macy’s.

Sales in the 13-week fourth quarter of 2013 totaled 9.202 billion dollars, down 1.6 percent from total sales of 9.350 billion dollars in the 14-week fourth quarter of 2012. For the 52 weeks of 2013, Cincinnati headquartered Macy’s sales totaled 27.931 billion dollars, up 0.9 percent from total sales of 27.686 billion dollars in the 53 weeks of fiscal 2012.

The company is reiterating its annual sales and earning guidance, initially provided on January 8, 2014. Comparable sales growth in fiscal 2014 is expected in the range of 2.5 percent to 3 percent. Earnings of 4.40 dollars to 4.50 dollars per share are expected in 2014. The company has announced plans for new Macy’s stores in Sarasota, FL; Las Vegas, NV; and The Bronx, NY, in fiscal 2014. A new Bloomingdale’s will open in Palo Alto, CA, to replace an older store in the same shopping center.