Skip to main content

Very Strong 2012 For Macy’s

Macy’s Inc. knocked it out of the park in full year 2012, which ended Feb. 2, 2013.

“2012 was another great year in our company’s evolving story of growth. The numbers reflect our success in pursuing the right strategies, and executing them with conviction in every part of the business with a talented team we consider to be the best in retailing,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc.

“We again added more than $1 billion in top-line sales growth in 2012. Comp sales rose by 3.7 percent for the year, on top of increases of 5.3 percent in 2011 and 4.6 percent in 2010. Earnings per share grew by double-digits for the fourth consecutive year. Operating cash flow continued to be strong, and we used excess cash to repurchase shares and double the dividend.”

Q4 sales were $9.35 billion, up 7.2% from Q4 2011. On a same-store basis sales were up 3.9%.

Total sales for fiscal 2012 were$27.686 billion, up 4.9% from fiscal 2011. Same store sales for the year were up 3.7%. The firm bested their own estimate of 3.5% issued in 2012.

Online sales were up 47.7% in Q4 and 41% for the year overall, as e-commerce continued to gain momentum. Online sales positive affected same-store sales by 3.3 percentage points in Q4 and 2.2 percentage points in fiscal 2012 as a whole.

Q4 operating income was $1.39 billion, at 14.9% of sales. Excluding one-time factors, income as a percent of sales rose 0.5 percentage points from Q4 2011, up from 14.4%.

Macy’s forecasts same-store sales growth of 3.5% in fiscal 2013, and has plans to open six new Macy’s Bloomingdale’s and Bloomingdale’s Outlet stores this year.