Macy's, Inc. (M), one of the leading department store retailers, came out with fourth-quarter fiscal 2014 results, wherein earnings of $2.44 per share that beat the Zacks Consensus Estimate by couple of cents and grew 5.6% year over year.
For fiscal 2015, earnings per share are expected to be in the range of $4.70-$4.80 as against adjusted earnings of $4.40 earned in fiscal 2014.
Earnings Estimate Revision: The Zacks Consensus Estimate has been portraying an uptrend in the last 30 days. However, if we look at Macy's performance so far in fiscal 2014, it gives a decent picture. The company has posted positive earnings surprises with the exception of second quarter where the company posted negative earnings surprise.
In the trailing four quarters, the company outperformed the Zacks Consensus Estimate by an average of 5%.
Revenues: Macy's generated net sales of $9,364 million that increased 1.8% year over year but fell short of the Zacks Consensus Estimate of $9,392 million. Comparable sales on an owned plus licensed basis grew 2.5% whereas on an owned basis, comparable sales grew 2%.
For fiscal 2015, Macy’s expects sales to increase 1% and comps (both owned and owned plus licensed) to grow 2%.
Zacks Rank: Currently, Macy's carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Stock Movement: Macy's shares are down nearly 0.3% during pre-market trading hours following the earnings release.
Check back later for our full write up on Macy's earnings report!
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