Macy's, Inc. Reports Sales Results for November and December 2017; Revises Guidance for the Full Year of 2017
January 04, 2018 at 07:01 pm
Share
Macy's, Inc. announced that its comparable sales on an owned basis increased 1.0% in the months of November and December 2017 combined, compared to the same period last year. On an owned plus licensed basis, comparable sales increased 1.1% in the combined November/December period.
The company provided earnings guidance for the full year of 2017. For the period, the company is narrowing the range of its previously provided full-year sales guidance. The company expects comparable sales on an owned basis to decline between 2.4% and 2.7%, with comparable sales on an owned
plus licensed basis to decline between 2.0% and 2.3%. Total sales are expected to be down between 3.6% and 3.9% in fiscal 2017. Total sales for fiscal 2017 reflect a 53rd week, whereas comparable sales are on a 52-week basis. The company expects adjusted earnings per diluted share of between $3.59 and $3.69 in 2017, excluding the impact of the anticipated settlement charges, restructuring, asset impairments, store closings and other costs and net premiums and fees associated with debt repurchases. Excluding the impact of the anticipated fourth quarter gain on the sale of the Union Square Men's building in San Francisco, adjusted earnings per diluted share of between $3.11 and $3.21 are expected in 2017 on the same basis.
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.