Macy’s posted EPS of $1.70, which was higher than its own guidance range of $1.63 to $1.65 and analysts expectations for $1.65. Same store sales rose 5.2% in the quarter, although gross margin slid by 33 basis points as has been the case for many retailers. Online sales grew 40% year over year and accounted for 1.7 percentage points of the same-store-sales increase.
Macy’s 2012 guidance was in line with expectations. The company, which has corporate offices in Cincinnati and New York, expects fiscal 2012 earnings of $3.25 to $3.30 per share. Wall Street estimtates $3.27 per share. Macy’s also anticipates its online sales will surpass $2 billion in 2012 and revenue from new stores open at least one year should be up 3.5%.
Technically the stock is strongly upwarding. The short-term resistance provoked breathlessness in this movement but moving averages are well oriented and may support the trend. The short-term resistance crossing will be a strong buying indicator with a focus on the $40 area. A stop loss will be engaged at $36.3, current level of the 20-days moving average.
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.
MACY'S, INC. 
