| Quarterly Results (unaudited) |
Quarterly Results (unaudited)
Unaudited quarterly results for the last two years were as follows:
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First
Quarter
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Second
Quarter
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Third
Quarter
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Fourth
Quarter
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(millions, except per share data) |
2016: |
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Net sales |
$ |
5,771 |
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$ |
5,866 |
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$ |
5,626 |
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$ |
8,515 |
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Cost of sales |
(3,516 |
) |
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(3,468 |
) |
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(3,386 |
) |
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(5,251 |
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Gross margin |
2,255 |
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2,398 |
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2,240 |
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3,264 |
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Selling, general and administrative expenses |
(1,966 |
) |
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(2,026 |
) |
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(2,071 |
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(2,202 |
) |
Impairments, store closing and other costs |
— |
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(249 |
) |
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— |
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(230 |
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Settlement charges |
(13 |
) |
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(6 |
) |
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(62 |
) |
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(17 |
) |
Net income attributable to Macy's, Inc. shareholders |
116 |
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11 |
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17 |
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|
475 |
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Basic earnings per share attributable to
Macy's, Inc. shareholders
|
.37 |
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|
.03 |
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|
.05 |
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1.56 |
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Diluted earnings per share attributable to
Macy's, Inc. shareholders
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.37 |
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.03 |
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.05 |
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1.54 |
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2015: |
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Net sales |
$ |
6,232 |
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$ |
6,104 |
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$ |
5,874 |
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$ |
8,869 |
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Cost of sales |
(3,800 |
) |
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(3,610 |
) |
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(3,537 |
) |
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(5,549 |
) |
Gross margin |
2,432 |
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2,494 |
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|
2,337 |
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|
3,320 |
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Selling, general and administrative expenses |
(2,023 |
) |
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(2,058 |
) |
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(1,968 |
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(2,207 |
) |
Impairments, store closing and other costs |
— |
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— |
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(111 |
) |
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(177 |
) |
Net income attributable to Macy's, Inc. shareholders |
193 |
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|
217 |
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|
118 |
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|
544 |
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Basic earnings per share attributable to
Macy's, Inc. shareholders |
.57 |
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|
.65 |
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|
.36 |
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1.74 |
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Diluted earnings per share attributable to
Macy's, Inc. shareholders |
.56 |
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|
.64 |
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.36 |
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1.73 |
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