| 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) |
2017: |
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Net sales |
$ |
5,338 |
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$ |
5,552 |
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$ |
5,281 |
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|
$ |
8,666 |
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Cost of sales |
(3,306 |
) |
|
(3,313 |
) |
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(3,175 |
) |
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(5,358 |
) |
Gross margin |
2,032 |
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|
2,239 |
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|
2,106 |
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|
3,308 |
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Selling, general and administrative expenses |
(1,880 |
) |
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(1,977 |
) |
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(1,995 |
) |
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(2,279 |
) |
Gains on sale of real estate |
68 |
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43 |
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|
65 |
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|
368 |
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Restructuring, impairment, store closing and other costs |
— |
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— |
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(33 |
) |
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(152 |
) |
Settlement charges |
— |
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(51 |
) |
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(22 |
) |
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(32 |
) |
Net income attributable to Macy's, Inc. shareholders |
71 |
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|
116 |
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|
36 |
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1,325 |
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Basic earnings per share attributable to
Macy's, Inc. shareholders
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.23 |
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|
.38 |
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|
.12 |
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4.34 |
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Diluted earnings per share attributable to
Macy's, Inc. shareholders
|
.23 |
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|
.38 |
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|
.12 |
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4.31 |
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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 |
(1,980 |
) |
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(2,047 |
) |
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(2,112 |
) |
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(2,335 |
) |
Gains on sale of real estate |
14 |
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21 |
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41 |
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|
133 |
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Impairment, store closing and other costs |
— |
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|
(249 |
) |
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— |
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(230 |
) |
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 |
.37 |
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|
.03 |
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|
.05 |
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1.54 |
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Note: Annual results may not equal the sum of the quarterly results for the respective periods due to rounding conventions.
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