Sponsors
Billabong ▼ -0.005 | PPR ▲ +0.30 | American Apparel ▼ -0.047 | The Buckle ▲ +0.32 | Columbia ▲ +0.30 | Deckers Outdoor ▼ -0.61 | Dicks ▼ -0.03 | Foot Locker ▲ +0.43 | Genesco ▲ +0.25 | Iconix Brand Group ▼ -0.12 | Jarden Corp ▼ -0.06 | Nordstrom ▲ +0.23 | Luxottica ▲ +0.31 | Nike ▲ +0.09 | Pacific Sunwear ▲ +0.01 | Skullcandy ▼ -0.16 | Sport Chalet ▼ 0.00 | Urban Outfitters ▲ +0.10 | VF Corp ▲ +0.49 | Quiksilver ▼ -0.05 | Zumiez ▲ +0.15 | Macys ▲ +0.38 | Tillys ▼ -0.04 |
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 nee
More Professional Services...
Readers Say
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
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
New Industry Insight

Shorebreak Hotel as a venue for industry events. Cinematographer Louie Schwartzberg's "Moving Art Retreat" in June at Turtle Bay Resort. Details on Industry Insight.


Tiffany Montgomery
Print This Article

Macy's says Q3 better than expected

Macy's says Q3 better than
By Tiffany Montgomery
November 11, 2009 6:13 AM

Macy’s reported third quarter results this morning that exceeded the company’s expectations in same-store sales, gross margin, earnings and cash flow.

Macy’s, the largest department store customer for the action sports industry, actually sounded upbeat – a rare emotion in the retail world these days. It also raised its full-year guidance.

Wall Street didn't like the company's fourth quarter guidance, however. Share are trading down 5.7% in pre-market trading.

Here are some highlights from the quarter:

Sales: down 3.9% to $5.3 billion

Same-store sales: down 3.6%

Online sales: up 21.1%

Net loss: $35 million vs. a net loss of $44 million the same period last year

Gross margin: 40.2% vs. 39.5%

Cash: The company ended the quarter with $489 million in cash. Cash flow has been strong enough that Macy’s could fund buying with cash during peak periods without tapping its credit lines.

Q4 guidance: Same-store sales are expected to be down 1% to 2%. Earnings per share should range between $1 and $1.05

Full year guidance: Same-store sales down 5.4% to 5.7%, better than the 6% to 8% decline expected. Earnings per share are expected to range from $1.01 to $1.06, better than the previously forecast of 70 to 80 cents per share.

 


More on: Macy's, earnings, sales

Articles You Might Have Missed