| Quarterly Results (unaudited) |
Quarterly Results (unaudited)
Unaudited quarterly results for the last two years were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First
Quarter
|
|
Second
Quarter
|
|
Third
Quarter
|
|
Fourth
Quarter
|
|
(millions, except per share data) |
2018: |
|
|
|
|
|
|
|
Net sales |
$ |
5,541 |
|
|
$ |
5,572 |
|
|
$ |
5,404 |
|
|
$ |
8,455 |
|
Credit card revenues, net |
157 |
|
|
186 |
|
|
185 |
|
|
240 |
|
|
|
|
|
|
|
|
|
Cost of sales |
(3,382 |
) |
|
(3,320 |
) |
|
(3,226 |
) |
|
(5,288 |
) |
Selling, general and administrative expenses |
(2,083 |
) |
|
(2,164 |
) |
|
(2,255 |
) |
|
(2,538 |
) |
Gains on sale of real estate |
24 |
|
|
46 |
|
|
42 |
|
|
278 |
|
Restructuring, impairment, store closing and other costs |
(19 |
) |
|
(17 |
) |
|
(3 |
) |
|
(97 |
) |
Benefit plan income, net |
11 |
|
|
11 |
|
|
9 |
|
|
8 |
|
Settlement charges |
— |
|
|
(50 |
) |
|
(23 |
) |
|
(15 |
) |
Net income attributable to Macy's, Inc. shareholders |
139 |
|
|
166 |
|
|
62 |
|
|
740 |
|
|
Basic earnings per share attributable to
Macy's, Inc. shareholders
|
0.45 |
|
|
0.54 |
|
|
0.20 |
|
|
2.40 |
|
|
Diluted earnings per share attributable to
Macy's, Inc. shareholders
|
0.45 |
|
|
0.53 |
|
|
0.20 |
|
|
2.37 |
|
|
|
|
|
|
|
|
|
2017: |
|
|
|
|
|
|
|
Net sales |
$ |
5,350 |
|
|
$ |
5,636 |
|
|
$ |
5,281 |
|
|
$ |
8,672 |
|
Credit card revenues, net |
161 |
|
|
167 |
|
|
145 |
|
|
229 |
|
|
|
|
|
|
|
|
|
Cost of sales |
(3,303 |
) |
|
(3,403 |
) |
|
(3,152 |
) |
|
(5,323 |
) |
Selling, general and administrative expenses |
(2,057 |
) |
|
(2,161 |
) |
|
(2,188 |
) |
|
(2,548 |
) |
Gains on sale of real estate |
68 |
|
|
43 |
|
|
65 |
|
|
368 |
|
Restructuring, impairment, store closing and other costs |
— |
|
|
— |
|
|
(33 |
) |
|
(152 |
) |
Benefit plan income, net |
13 |
|
|
14 |
|
|
15 |
|
|
15 |
|
Settlement charges |
— |
|
|
(51 |
) |
|
(22 |
) |
|
(32 |
) |
Net income attributable to Macy's, Inc. shareholders |
78 |
|
|
111 |
|
|
30 |
|
|
1,347 |
|
Basic earnings per share attributable to
Macy's, Inc. shareholders |
0.26 |
|
|
0.36 |
|
|
0.10 |
|
|
4.41 |
|
Diluted earnings per share attributable to
Macy's, Inc. shareholders |
0.26 |
|
|
0.36 |
|
|
0.10 |
|
|
4.38 |
|
Note: Annual results may not equal the sum of the quarterly results for the respective periods due to rounding conventions.
|