Last $58.12 USD
Change Today +0.60 / 1.04%
Volume 2.7M
M On Other Exchanges
Symbol
Exchange
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As of 4:15 PM 04/23/14 All times are local (Market data is delayed by at least 15 minutes).

macy's inc (M) Snapshot

Open
$57.58
Previous Close
$57.52
Day High
$58.24
Day Low
$57.57
52 Week High
04/4/14 - $61.26
52 Week Low
10/9/13 - $42.18
Market Cap
21.4B
Average Volume 10 Days
3.4M
EPS TTM
$4.05
Shares Outstanding
369.0M
EX-Date
03/12/14
P/E TM
14.4x
Dividend
$1.00
Dividend Yield
1.72%
Current Stock Chart for MACY'S INC (M)

macy's inc (M) Details

Macy's, Inc., together with its subsidiaries, operates stores and Internet Websites in the United States. Its stores and Websites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. The company also operates Bloomingdale’s Outlet stores that offer a range of apparel and accessories, including women's ready-to-wear, fashion accessories, jewelry, handbags, and intimate apparel, as well as men's, children's, and women's shoes. As of February 25, 2014, it operated approximately 840 stores under the Macy's and Bloomingdale's names in 45 states of the United States, the District of Columbia, Guam, and Puerto Rico, as well as the macys.com and bloomingdales.com Websites; and 13 Bloomingdale's Outlet stores. The company was formerly known as Federated Department Stores, Inc. and changed its name to Macy’s, Inc. in June 2007. Macy’s, Inc. was founded in 1830 and is headquartered in Cincinnati, Ohio.

172,500 Employees
Last Reported Date: 04/2/14
Founded in 1830

macy's inc (M) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $1.6M
President
Total Annual Compensation: $870.8K
Chief Financial Officer
Total Annual Compensation: $870.8K
Chief Stores Officer
Total Annual Compensation: $870.8K
Chief Private Brand Officer
Total Annual Compensation: $842.5K
Compensation as of Fiscal Year 2013.

macy's inc (M) Key Developments

Macy's, Inc. Appoints Jeffrey Gennette as President

Macy's, Inc. announced that Jeffrey Gennette, who has served for the past five years as Macy's chief merchandising officer, has been elected President of the corporation, effective immediately. He will report to Terry J. Lundgren, Macy's, Inc. chairman and chief executive officer, and continues to be based in New York City. In this new role, Gennette will retain day-to-day responsibility for Macy's merchandising functions, as well as oversight of marketing and macys.com. In addition, he assumes oversight responsibility for Macy's Private Brands organization. Gennette, 52, has been Macy's chief merchandising officer since 2009. He served as chairman and CEO of Macy's West for the previous year, and was chairman and CEO of Macy's Northwest in Seattle from December 2005 to February 2008.

Macy's, Inc. Declares Quarterly Dividend, Payable on April 1, 2014

The board of directors of Macy's, Inc. declared a regular quarterly dividend of 25 cents per share on Macy's common stock, payable on April 1, 2014, to shareholders of record at the close of business on March 14, 2014.

Macy's, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended February 1, 2014; Reports Impairment Charge for the Fourth Quarter Ended February 1, 2014; Reaffirms Earnings Guidance for the Year 2014

Macy's, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended February 1, 2014. The company reported an 11% increase in fourth-quarter profit. It announced that it earned $811 million, or $2.16 per diluted share, in the three months that ended February 1. That compares with $730 million, or $1.83 per share, a year earlier. Revenue slipped 1.6% to $9.2 billion. Comparable sales for the fourth quarter of 2013 grew by 1.4%, and by 2.3% for comparable sales combined with comparable sales from departments licensed to third parties. Sales in the 13-week fourth quarter of 2013 totaled $9.202 billion, down 1.6% from total sales of $9.350 billion in the 14-week fourth quarter of 2012. On a comparable sales basis, Macy's, Inc.'s fourth quarter sales were up 1.4% in 2013 over 2012. Macy's, Inc.'s operating income totaled $1.349 billion or 14.7% of sales for the 13-week quarter ended Feb. 1, 2014, compared with operating income of $1.391 billion or 14.9% of sales for the 14-week fourth quarter of fiscal 2012. Macy's, Inc.'s fourth quarter 2013 operating income included expenses and asset impairment charges of $88 million associated with previously announced store closings, cost reduction initiatives and related items. Excluding these items, operating income for the fourth quarter of 2013 was $1.437 billion or 15.6% of sales. Fourth quarter 2012 operating income included asset impairment charges and other costs and expenses of $5 million primarily associated with store closings. Excluding these items, operating income for the fourth quarter of 2012 was $1.396 billion or 14.9% of sales. Income before income taxes was $1,250 million against $1,152 million a year ago. Net income was $811 million against $730 million a year ago. For the full year 2013, earnings were $3.86 per diluted share, or $4.00 excluding items described below. This represents an increase of 19%, or 16% excluding items, over fiscal 2012. The $4.00 per share exceeds management's initial guidance provided at the beginning of the year for earnings per share, excluding items described below, to be in the range of $3.90 to $3.95 per share in fiscal 2013. Comparable sales for fiscal 2013 grew by 1.9%, and by 2.8% for comparable sales combined with comparable sales from departments licensed to third parties. For the 52 weeks of 2013, Macy's, Inc. sales totaled $27.931 billion, up 0.9% from total sales of $27.686 billion in the 53 weeks of fiscal 2012. On a comparable sales basis, Macy's, Inc.'s 2013 sales were up 1.9% in 2013 over 2012. Together with sales from departments licensed to third parties, 2013 sales on a comparable basis were up 2.8%. For the 52 weeks of fiscal 2013, Macy's, Inc.'s operating income totaled $2.678 billion or 9.6% of sales, compared with operating income of $2.661 billion or 9.6% of sales for the 53 weeks of fiscal 2012. Macy's, Inc.'s fiscal 2013 operating income included expenses and asset impairment changes of $88 million associated with previously announced store closings, cost reduction initiatives and related items. Excluding these items, operating income for fiscal 2013 was $2.766 billion or 9.9% of sales. Macy's, Inc.'s fiscal 2012 operating income included asset impairment charges and other costs and expenses of $5 million associated with store closings. Excluding these items, operating income for fiscal 2012 was $2.666 billion or 9.6% of sales. For the 52 weeks of fiscal 2013, Macy's, Inc. earned $3.86 per diluted share. Earnings per diluted share were $4.00 for fiscal 2013, excluding pre-tax expenses and asset impairment charges of $88 million ($54 million after tax or 14 cents per diluted share) associated with previously announced store closings, cost reduction initiatives and related items. For the 53 weeks of fiscal 2012, Macy's, Inc. earned $3.24 per diluted share. Earnings per diluted share were $3.46 for fiscal 2012, excluding pre-tax expenses of $137 million ($87 million after tax or 21 cents per share) associated with the early retirement of approximately $873 million of outstanding debt, and asset impairment charges and other costs and expenses of approximately $5 million ($3 million after tax or 1 cent per share) related primarily to store closings. Net cash provided by operating activities was $2.549 billion in fiscal 2013, compared with $2.179 billion in fiscal 2012. Capital expenditures were below plan by $62 million in fiscal 2013. Income before income taxes was $2,290 million against $2,102 million a year ago. Net income was $1,486 million against $1,335 million a year ago. Purchase of property and equipment was $607 million against $698 million a year ago. For the 13 weeks ended February 1, 2014, includes $39 million of asset impairment charges primarily related to the store closings. The company is reiterating its annual sales and earning guidance, initially provided on January 8, 2014. Comparable sales growth in fiscal 2014 is expected in the range of 2.5% to 3%. Earnings of $4.40 to $4.50 per share are expected in 2014. Capital expenditures for 2014 are expected to be approximately $1.05 billion, which includes amounts delayed from 2013.

 

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Valuation M Industry Range
Price/Earnings 14.9x
Price/Sales 0.8x
Price/Book 3.4x
Price/Cash Flow 14.3x
TEV/Sales 0.4x
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