Macy's Revises Sales Guidance for the Second Half of 2013; Reiterates Earnings Guidance for the Full-Year 2013; Provides Earnings Guidance for the Fourth Quarter of 2013 and for Fiscal 2014
January 09, 2014 at 02:37 am IST
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Macy's narrowed the range of its guidance for comparable sales growth in the second half of 2013 to a range of 2.8% to 2.9% from previous guidance of up between 2.5% and 4% which calculates to guidance for comparable sales in the fourth quarter to grow by approximately 2.3% to 2.5%, and for full-year 2013 sales to grow by 2.2% to 2.3%.
The company reiterated its full-year 2013 earnings guidance in the range of $3.80 to $3.90 per diluted share, excluding charges related to operating cost reductions, store closings and asset impairment charges.
The company also provided initial guidance for fiscal 2014. Management currently expects comparable sales in 2014 to increase in the range of 2.5% to 3% compared with 2013 levels. Earnings per share are expected in the range of $4.40 to $4.50.
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 Revises Sales Guidance for the Second Half of 2013; Reiterates Earnings Guidance for the Full-Year 2013; Provides Earnings Guidance for the Fourth Quarter of 2013 and for Fiscal 2014
MACY'S, INC. 
