CINCINNATI--(BUSINESS WIRE)--Jan. 3, 2013--
Macy’s, Inc. (NYSE: M) today reported total sales of $5.102 billion for
the five weeks ended Dec. 29, 2012, an increase of 3.6 percent compared
with total sales of $4.923 billion in the five weeks ended Dec. 31,
2011. On a same-store basis, Macy’s, Inc. sales were up 4.1 percent in
December as compared to December 2011.
Same-store sales increased by 2.5 percent for November and December 2012
combined as compared to the same period in 2011.
“Last month was our fourth consecutive December with same-store sales
growth, which is indicative of the sustainability of our key business
strategies,” said Terry J. Lundgren, chairman, president and chief
executive officer of Macy’s, Inc. “While the rate of growth was somewhat
less than we had expected in the first two months of the fourth quarter,
it came amid some significant headwinds from uncertain economic news and
the lingering effects of Hurricane Sandy. All said, we are proud of our
accomplishments in driving growth this holiday season and we believe we
continued to gain market share.
“In particular, we are pleased with the significant progress we made
this holiday season in implementing our Omnichannel initiatives through
a period of high sales volume. Our new process for satisfying store and
online orders through both our online fulfillment centers and
fulfillment stores led us to make better use of our inventories and
drive sales that otherwise would have been lost when we ran out of stock
locally in certain items,” Lundgren said.
(Editor’s Note: Macy’s, Inc. this morning also issued a separate news
release announcing normal-course adjustments to the company’s stores
For the year to date, Macy’s, Inc. sales totaled $25.887 billion, up 3.3
percent from total sales of $25.068 billion in the first 48 weeks of
2011. On a same-store basis, Macy’s, Inc.’s year-to-date sales were up
Online sales (macys.com and bloomingdales.com combined) were up 51.7
percent in December and 40.4 percent in 2012 year-to-date compared with
the same periods in 2011. Online sales are included in the same-store
sales calculation for Macy's, Inc.
The company now expects same-store sales for the fourth quarter of 2012
to increase by between 3 percent and 3.5 percent. This compares with
previous guidance for fourth quarter sales to be up by approximately 4.2
percent. 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 today. 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
Macy’s, Inc., with corporate offices in Cincinnati and New York, is one
of the nation’s premier retailers, with fiscal 2011 sales of $26.4
billion. The company operates about 840 department stores in 45 states,
the District of Columbia, Guam and Puerto Rico under the names of Macy’s
and Bloomingdale’s, as well as the macys.com and bloomingdales.com
websites. The company also operates 12 Bloomingdale’s Outlet stores.
Bloomingdale’s in Dubai is operated by Al Tayer Group LLC under a
All statements in this press release that are not statements of
historical fact are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements are
based upon the current beliefs and expectations of Macy’s management and
are subject to significant risks and uncertainties. Actual results could
differ materially from those expressed in or implied by the
forward-looking statements contained in this release because of a
variety of factors, including conditions to, or changes in the timing
of, proposed transactions, prevailing interest rates and non-recurring
charges, competitive pressures from specialty stores, general
merchandise stores, off-price and discount stores, manufacturers’
outlets, the Internet, mail-order catalogs and television shopping and
general consumer spending levels, including the impact of the
availability and level of consumer debt, the effect of weather and other
factors identified in documents filed by the company with the Securities
and Exchange Commission.
(NOTE: Additional information on Macy’s, Inc., including past news
releases, is available at www.macysinc.com/pressroom).
Source: Macy’s, Inc.
Jim Sluzewski, 513-579-7764