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2.7 percent rise in comparable holiday sales at Macy’s

By Prachi Singh

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Macy's announced that its comparable sales on an owned plus licensed basis rose by 2.7 percent in the months of November and December 2014 combined, compared with the same period last year. This tracks within the company's guidance, provided on November 12, 2014, for a comparable sales increase of 2 percent to 3 percent on an owned plus licensed basis in the full fourth quarter of 2014. On an owned basis, comparable sales rose by 2.1 percent in the combined November/December period, consistent with the company's guidance for an increase of 1.8 percent to 2.8 percent in the full fourth quarter.

“We feel very good about our performance in the November/December period as we reversed trend from a soft third quarter and set the stage for continued progress going forward,” said Terry J. Lundgren, Macy's Chairman and Chief Executive Officer.

Macy's is narrowing its guidance to the upside for comparable sales growth on an owned plus licensed basis in the fourth quarter of 2014 to a range of 2.5 percent to 3 percent from previous guidance of up between 2 percent and 3 percent, which calculates to guidance for comparable sales on an owned plus licensed basis in the full-year 2014 to grow by approximately 1.4 percent to 1.5 percent against previous guidance of up 1.2 percent to 1.5 percent.

On an owned basis, fourth quarter comparable sales are now expected in the range of 1.9 percent to 2.4 percent compared to previous guidance of up between 1.8 percent to 2.8 percent, which calculates to guidance for comparable sales on an owned basis in the full-year 2014 to grow by approximately 0.7 percent to 0.8 percent from previous guidance of up 0.7 percent to 1 percent.

The company is maintaining its full-year 2014 earnings guidance in the range of 4.25 dollars to 4.35 dollars per diluted share. Macy's, Inc. is scheduled to report fourth quarter sales and earnings on February 24, 2015.

Macy's