- Prachi Singh |
Macy’s in its preliminary said that earnings per share for the full-year 2014 are above previous guidance and the fourth quarter 2014 comparable sales consistent with expectations. The company currently expects full-year 2014 earnings of between 4.35 dollars and 4.37 dollars per diluted share, which is higher than revised guidance of January 8, 2015, in the range of 4.25 dollars to 4.35 dollars per diluted share.
“We are very pleased with our fourth quarter performance, which represents a strengthening trend from the third quarter and spring season,” said Terry J. Lundgren, Chairman and Chief Executive Officer of Macy’s, adding, “In particular, we believe that we have an excellent foundation on which to continue to grow sales and earnings, as described in last month’s moves to restructure our merchandising and marketing organizations, and today’s announcements on new senior executive appointments and the agreement to acquire Bluemercury.”
Comparable sales growth on an owned plus licensed basis in the fourth quarter of 2014 was 2.5 percent, in line with guidance provided on January 8 of 2.5 percent to 3 percent. This calculates to growth in comparable sales on an owned plus licensed basis in the full-year 2014 of 1.4 percent. On an owned basis, fourth quarter comparable sales were 2.0 percent. This calculates to growth of comparable sales on an annual basis of 0.7 percent on an owned basis. The company will report fourth quarter sales and earnings on Tuesday, February 24, 2015.