Sponsors
Billabong ▼ 0.000 | PPR ▼ -1.10 | American Apparel ▼ -0.023 | The Buckle ▼ 0.00 | Columbia ▲ +0.73 | Deckers Outdoor ▼ -0.56 | Dicks ▼ -0.25 | Foot Locker ▲ +0.14 | Genesco ▲ +0.36 | Iconix Brand Group ▼ 0.00 | Jarden Corp ▼ -0.97 | Nordstrom ▼ -0.33 | Luxottica ▲ +0.48 | Nike ▼ -0.16 | Pacific Sunwear ▼ -0.04 | Skullcandy ▼ -0.03 | Sport Chalet - 0 | Urban Outfitters ▼ -0.49 | VF Corp ▼ -0.21 | Quiksilver ▼ -0.04 | Zumiez ▲ +0.28 | Macys ▼ -0.43 | Tillys ▲ +0.46 |
Ticker Sponsor
Readers Say
It pertains to my business
It pertains to my business

I’m an avid reader of Shop-Eat-Surf because it’s really the only online newsletter that I have found that is not only industry related, but also because it’s not so “guy-centric.” I find that a lot of the information I read on the site pertains to my business (as a swimwear designer) and keeps me up to date on what other companies and other women in the industry in general are doing which is not only inspiring but also helps me gauge the future direction of my business as well.

I feel privileged to read the Executive Edition because I know I am getting insider industry information before it hits the mainstream media channels. And it’s always good to know what my friends are up to in the industry.

- By Monica Wise, Founder, L*Space
The one, undisputed leader
The one, undisputed leader

It is common knowledge in our industry that there is one undisputed leader in reporting on the topics, businesses and trends that impact all of us the most, and it is shop-eat-surf.com. Their access to those who make our industry happen is second to none, and we value not only the content of their reporting but the editorial thought on what it all means both in the present as well as the future. If we were asked to give a rating, it would be five out of five stars.

- By Craig Levra, CEO, Sport Chalet
Industry Insight

SHACC: Trailblazers in Women's surfing exhibit opens April 25.
ROTH CAPITAL PARTNERS: Zumiez comps exceed estimates.

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