Macy’s, Inc. Reports Sales Results for November and December 2016; Revises Earnings Guidance for 2016
January 04, 2017 at 09:05 pm
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Macy's, Inc. announced that its comparable sales on an owned plus licensed basis declined by 2.1% in the months of November and December 2016 combined, compared to the same period last year. On an owned basis, comparable sales declined by 2.7% in the combined November/December period.
The company maintains its previously provided full-year sales guidance of a 2.5% to 3.0% decrease in comparable sales on an owned plus licensed basis, and expects to come in at the lower end of that guidance, with comparable sales on an owned basis to be approximately 50 basis points lower. The company now expects full-year 2016 diluted earnings per share (excluding asset impairment, restructuring, retirement settlement and other charges) to be in a range of $2.95 to $3.10 (compared with previous guidance of $3.15 to $3.40).
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, INC. 
