Sponsors
Billabong ▼ -0.010 | PPR - 0 | American Apparel ▼ 0.000 | The Buckle ▲ +0.66 | Columbia ▲ +0.36 | Deckers Outdoor ▲ +1.92 | Dicks ▲ +0.78 | Foot Locker ▲ +1.03 | Genesco ▲ +1.62 | Iconix Brand Group ▲ +0.72 | Jarden Corp ▲ +1.48 | Nordstrom ▲ +1.57 | Luxottica ▲ +0.29 | Nike ▲ +1.74 | Pacific Sunwear ▼ -0.01 | Skullcandy ▲ +0.08 | Sport Chalet - 0 | Urban Outfitters ▲ +0.05 | VF Corp ▲ +2.71 | Quiksilver ▲ +0.07 | Zumiez ▲ +1.26 | Macys ▲ +1.31 | Tillys ▲ +0.26 |
Readers Say
Executive Edition is a must have
Executive Edition is a must have

Before Shop-Eat-Surf, there were two sites I paid for premium content on. One is Surfline, the other is the Wall Street Journal. One is about all things surf, the other, the best business content site in the world. Shop-eat-surf is the intersection of those two worlds. Shop-Eat-Surf provides everything from coverage of events, people, brands and trends. However, beyond the Executive Edition "wall" is more meaty analysis and interpretation of financial statements, business models and brand philosophies; why certain brands and companies are succeeding, where others aren't. The Executive Edition is a must have read if the business of surf and action sports are on your radar screen.

- By Jeff Berg, Co-owner, Surfline
Always a good daily read
Always a good daily read

Shop-Eat-Surf creates a good source of timely information about the industry. The site makes all types and size companies feel part of a community where everyone is stoked to hear about other companies successes and ideas. It is always a good daily read.

- By Ted Li, VP of North America, Oakley
Industry Insight

SDSI recaps FundSource OR success. Four reasons for B2B companies to embrace ecomm from NuORDER.

Details on Industry Insight.


Tiffany Montgomery
Print This Article

Macy's first quarter results better than expected

By
May 13, 2009 6:34 AM

Macy's, the largest department store customer for the action sports industry, reported this morning that its first quarter loss was narrower than planned though wider than the first quarter last year, reflecting the tough retail climate.

The company reported a net loss of 16 cents per share, excluding charges, which was better than the loss of 19 to 21 cents expected. Including the $158 million in restructuring charges, the company lost 21 cents per share.

In the first quarter of 2008, the company lost 14 cents per share, excluding charges.

Total sales fell 9.5 percent to $5.2 billion, while same-store sales dropped 9 percent. Online sales for Macy's and Bloomingdale's combined rose 16.2 percent. Online sales are included in same-store sales totals.

After consolidating regional divisions, the company expects to save $250 million in 2009 and $400 million annually beginning in 2010.

For 2009, Macy's expects sales to be down 6 to 8 percent. Earnings per share should range from 40 to 55 cents per share, excluding costs. If the economy improves in the second half of the year, the company said it could beat that guidance.

 


More on: Macy's, earnings, sales

Articles You Might Have Missed