Sponsors
Billabong ▼ -0.010 | PPR ▼ -0.20 | American Apparel ▼ -0.07 | The Buckle ▲ +0.47 | Columbia ▲ +1.81 | Deckers Outdoor ▲ +0.30 | Dicks ▼ -0.44 | Foot Locker ▼ -0.41 | Genesco ▼ -0.52 | Iconix Brand Group ▲ +0.11 | Jarden Corp ▲ +0.02 | Nordstrom ▲ +0.11 | Luxottica ▲ +0.62 | Nike ▲ +0.22 | Pacific Sunwear ▲ +0.03 | Skullcandy ▲ +0.07 | Sport Chalet ▼ 0.00 | Urban Outfitters ▲ +0.02 | VF Corp ▼ -0.08 | Quiksilver ▼ -0.07 | Zumiez ▲ +0.45 | Macys ▲ +0.25 | Tillys ▲ +0.06 |
Ticker Sponsor
Professional Services
Friedman Stroffe & Gerard, P.C.

FSG’s Action Sports Practice Group provides legal services to the action sports industry. Our clients include surfers, skiers, snowboarders and skaters, as well as sponsors and leading apparel companies. Our attorneys serve in positions with industry organizations such as the Association of Surfing Professionals. We know your business and can provide full-service legal solutions to meet your organizational needs.

More Professional Services...
Readers Say
Keeps me in the loop
Keeps me in the loop

Being an Executive Edition member allows me to not miss a beat when it comes to the Industry business news. Definitely keeps me in the loop plus goes great with my morning joe.

- By Tony Perez, Surfer and Surfing magazines
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

CIT: Acquires SoCal-based One West Bank
SDSI: Sports and active lifestyle employment outlook.
MLA: Legal risk management of staging modern sports experiences in non-traditional settings.
Details on Industry Insight.


Tiffany Montgomery
Print This Article

Macy's first quarter results better than expected

Macy's first quarter results
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