Macy’s – Quarterly Data

Quarterly Data

Quarterly Earnings Summary – Q1 12
Macy’s reported net income of $181 million ($0.43 Diluted EPS) for the first quarter ended Apr 28, an increase of 38% from the year-ago period. Net sales increased 4.3% to $6.143 billion, while same-store sales rose 4.4%, the 9th straight quarterly gain after 11 consecutive declines. Online sales (macys.com and bloomingdales.com combined) were up 33.7% in the quarter, positively affecting the company’s same-store sales by 1.5 percentage points. CEO Terry J. Lundgren said “The momentum in our business at Macy’s and Bloomingdale’s continued to build in the first quarter, with sales and earnings that exceeded our expectations going into the year. The quarterly data clearly demonstrates the strength of our results as we continue to implement our key strategies – My Macy’s merchandise localization; omnichannel integration of stores, online and mobile; and MAGIC Selling for enhanced customer engagement,” The company continues to expect same-store sales to grow by approximately 3.5% for the remainder of the year. When added to the first quarter’s reported results, same-store sales growth for fiscal 2012 as a whole now is expected to be approximately 3.7% – slightly higher than previous guidance for a same-stores sales increase of approximately 3.5%. The company reiterated its guidance for earnings per diluted share of $3.25 to $3.30 for the full year.

Quarterly Earnings Summary – Q1 12

Macy’s reported net income of $181 million ($0.43 Diluted EPS) for the first quarter ended Apr 28, an increase of 38% from the year-ago period. Net sales increased 4.3% to $6.143 billion, while same-store sales rose 4.4%, the 9th straight quarterly gain after 11 consecutive declines. Online sales (macys.com and bloomingdales.com combined) were up 33.7% in the quarter, positively affecting the company’s same-store sales by 1.5 percentage points. CEO Terry J. Lundgren said “The momentum in our business at Macy’s and Bloomingdale’s continued to build in the first quarter, with sales and earnings that exceeded our expectations going into the year. The quarterly data clearly demonstrates the strength of our results as we continue to implement our key strategies – My Macy’s merchandise localization; omnichannel integration of stores, online and mobile; and MAGIC Selling for enhanced customer engagement,” The company continues to expect same-store sales to grow by approximately 3.5% for the remainder of the year. When added to the first quarter’s reported results, same-store sales growth for fiscal 2012 as a whole now is expected to be approximately 3.7% – slightly higher than previous guidance for a same-stores sales increase of approximately 3.5%. The company reiterated its guidance for earnings per diluted share of $3.25 to $3.30 for the full year.

Macy's - Quarterly Sales Growth

	Net Sales (1,000′s)	YoY % Chg	Same-Store Sales Chg
Q1 12	$ 6,143,000	4.3%	4.4%
Q4 11	$ 8,724,000	5.5%	5.2%
Q3 11	$ 5,853,000	4.1%	4.0%
Q2 11	$ 5,939,000	7.3%	6.4%
Q1 11	$ 5,889,000	5.7%	5.4%
Q4 10	$ 8,269,000	5.4%	4.3%
Q3 10	$ 5,623,000	6.6%	3.9%
Q2 10	$ 5,537,000	7.2%	4.9%
Q1 10	$ 5,574,000	7.2%	5.5%
Q4 09	$ 7,849,000	-1.1%	-0.8%
Q3 09	$ 5,277,000	-3.9%	-3.6%
Q2 09	$ 5,164,000	-9.7%	-9.5%
Q1 09	$ 5,199,000	-9.5%	-9.0%
Q4 08	$ 7,934,000	-7.7%	-7.0%
Q3 08	$ 5,493,000	-7.0%	-6.0%
Q2 08	$ 5,718,000	-3.0%	-2.1%
Q1 08	$ 5,747,000	-2.9%	-2.6%
Q4 07	$ 8,594,000	-6.2%	-2.0%
Q3 07	$ 5,906,000	0.3%	-0.8%
Q2 07	$ 5,892,000	-1.7%	-2.6%
Q1 07	$ 5,921,000	-0.2%	0.6%
Q4 06	$ 9,159,000	-4.3%	6.1%
Q3 06	$ 5,886,000	6.0%	5.9%
Q2 06	$ 5,995,000	65.5%	4.6%
Q1 06	$ 5,930,000	62.9%	0.0%

Macy's - Quarterly Earnings Growth

	Net Income (1,000′s)	YoY % Chg	Diluted EPS	YoY % Chg
Q1 12	$ 181,000	38.2%	$ 0.43	43.3%
Q4 11	$ 745,000	11.7%	$ 1.74	12.3%
Q3 11	$ 139,000	1,290%	$ 0.32	1,500%
Q2 11	$ 241,000	63.9%	$ 0.55	57.1%
Q1 11	$ 131,000	469.6%	$ 0.30	500.0%
Q4 10	$ 667,000	49.9%	$ 1.55	47.6%
Q3 10	$ 10,000	128.6%	$ 0.02	125.0%
Q2 10	$ 147,000	2,000%	$ 0.35	1,650%
Q1 10	$ 23,000	126.1%	$ 0.05	123.8%
Q4 09	$ 445,000	109.3%	$ 1.05	109.3%
Q3 09	-$ 35,000	20.5%	-$ 0.08	20.0%
Q2 09	$ 7,000	-90.4%	$ 0.02	-88.2%
Q1 09	-$ 88,000	-49.2%	-$ 0.21	-50.0%
Q4 08	-$ 4,773,000	-736.4%	-$ 11.33	-754.9%
Q3 08	-$ 44,000	-233.3%	-$ 0.10	-225.0%
Q2 08	$ 73,000	-1.4%	$ 0.17	6.3%
Q1 08	-$ 59,000	-263.9%	-$ 0.14	-275.0%
Q4 07	$ 750,000	2.3%	$ 1.73	23.6%
Q3 07	$ 33,000	1,200%	$ 0.08	900.0%
Q2 07	$ 74,000	-76.7%	$ 0.16	-71.9%
Q1 07	$ 36,000	169.2%	$ 0.08	188.9%
Q4 06	$ 733,000	4.9%	$ 1.40	11.1%
Q3 06	-$ 3,000	-100.7%	-$ 0.01	-101.1%
Q2 06	$ 317,000	114.2%	$ 0.57	35.7%
Q1 06	-$ 52,000	-142.3%	-$ 0.09	-125.0%

Macy's - Quarterly Chg in Gross Margins

	Gross Profit (1000′s)	Gross Margin	YoY Chg (bps)
Q1 12	$ 2,386,000	38.8%	-27
Q4 11	$ 3,573,000	41.0%	-33
Q3 11	$ 2,309,000	39.4%	-49
Q2 11	$ 2,482,000	41.8%	-16
Q1 11	$ 2,303,000	39.1%	-29
Q4 10	$ 3,414,000	41.3%	-40
Q3 10	$ 2,246,000	39.9%	-25
Q2 10	$ 2,323,000	42.0%	46
Q1 10	$ 2,196,000	39.4%	131
Q4 09	$ 3,272,000	41.7%	234
Q3 09	$ 2,121,000	40.2%	71
Q2 09	$ 2,143,000	41.5%	2
Q1 09	$ 1,980,000	38.1%	-54
Q4 08	$ 3,122,000	39.3%	-223
Q3 08	$ 2,169,000	39.5%	19
Q2 08	$ 2,372,000	41.5%	100
Q1 08	$ 2,220,000	38.6%	-118
Q4 07	$ 3,573,000	41.6%	74
Q3 07	$ 2,321,000	39.3%	-54
Q2 07	$ 2,385,000	40.5%	60
Q1 07	$ 2,357,000	39.8%	107
Q4 06	$ 3,740,000	40.8%	21
Q3 06	$ 2,345,000	39.8%	-54
Q2 06	$ 2,391,000	39.9%	-144
Q1 06	$ 2,297,000	38.7%	-150

Macy's - Quarterly Chg in Operating Margins

	Oper Profit (1000′s)	Operating Margin	YoY Chg (bps)
Q1 12	$ 391,000	6.4%	76
Q4 11	$ 1,284,000	14.7%	88
Q3 11	$ 291,000	5.0%	182
Q2 11	$ 506,000	8.5%	184
Q1 11	$ 330,000	5.6%	196
Q4 10	$ 1,144,000	13.8%	270
Q3 10	$ 177,000	3.1%	211
Q2 10	$ 370,000	6.7%	188
Q1 10	$ 203,000	3.6%	583
Q4 09	$ 874,000	11.1%	7,082
Q3 09	$ 55,000	1.0%	-20
Q2 09	$ 248,000	4.8%	27
Q1 09	-$ 114,000	-2.2%	-271
Q4 08	-$ 4,735,000	-59.7%	-7,390
Q3 08	$ 68,000	1.2%	-186
Q2 08	$ 259,000	4.5%	29
Q1 08	$ 30,000	0.5%	-299
Q4 07	$ 1,222,000	14.2%	46
Q3 07	$ 183,000	3.1%	82
Q2 07	$ 250,000	4.2%	-280
Q1 07	$ 208,000	3.5%	318
Q4 06	$ 1,260,000	13.8%	128
Q3 06	$ 134,000	2.3%	-1009
Q2 06	$ 422,000	7.0%	-99
Q1 06	$ 20,000	0.3%	-658