Macy's (M) Tops Q4 EPS by 20c

Macy's (NYSE: M) reported Q4 EPS of $2.09, $0.20 better than the analyst estimate of $1.89. Revenue for the quarter came in at $8.87 billion versus the consensus estimate of $8.83 billion.

Comparable sales on an owned plus licensed basis for the fourth quarter were down 4.3 percent. On an owned basis, fourth quarter comparable sales declined by 4.8 percent.

GUIDANCE:

The company expects comparable sales on an owned plus licensed basis to decline by approximately 1 percent in fiscal 2016, with comparable sales on an owned basis to be approximately 50 basis points lower. Total sales are expected to be down by approximately 2 percent in fiscal 2016, reflecting the 40 stores closed in 2015. Earnings of $3.80 to $3.90 per diluted share are expected in 2016. Capital expenditures for 2016 are expected to be approximately $900 million, compared with the capital expenditures of approximately $1.1 billion in fiscal 2015.

Macy's sees FY2016 EPS of $3.80-$3.90, versus the consensus of $3.84.

For earnings history and earnings-related data on Macy's (M) click here.

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