Shares were set to open up 1.5 percent at $59.46.
Macy's said it expects same-store sales, excluding licensed
businesses, to grow 1.8-2.8 percent in the fourth quarter, faster
than the 1.4 percent growth a year earlier.
"... We are poised to capitalize on a return to more normalized
weather patterns after the unusually severe snowstorms in the fourth
quarter last year," Chief Executive Terry Lundgren said in a
statement on Wednesday.
Same-store sales at Macy's, which also owns the high-end
Bloomingdale's chain, has either declined or grown slower than a
year ago for 11 quarters now, except the second quarter ended Aug 2.
![](http://archives.lincolndailynews.com/2014/Nov/12/images/ads/current/napa_bch1-3108.png)
The company expects to benefit from the rollout of its 'Buy Online
Pickup in Store' facility at all large Macy's and Bloomingdale's
stores, same-day delivery pilot projects and upgraded mobile apps.
Macy's has been investing heavily to compete with global fashion
chains and online players such as Amazon.com Inc <AMZN.O> and
offering more online-friendly services such as in-store pickups for
online orders.
The company said net income rose to $217 million, or 61 cents per
share, in the third quarter ended Nov. 1 from $177 million, or 47
cents per share, a year earlier.
Selling, general and administrative expenses fell a little more than
4 percent, helping operating margin expand to 6.8 percent from 5.7
percent.
[to top of second column] |
![](http://archives.lincolndailynews.com/2014/Nov/12/images/ads/current/tcb_lda_042814.png)
Net sales fell to $6.2 billion from $6.3 billion.
Analysts on average had expected a profit of 50 cents per share on
revenue of $6.34 billion, according to Thomson Reuters I/B/E/S.
Same-store sales, excluding licensed businesses, declined 1.4
percent, compared with a growth of 1.9 percent estimated by
Consensus Metrix.
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Savio
D'Souza and Joyjeet Das)
[© 2014 Thomson Reuters. All rights
reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
![](http://archives.lincolndailynews.com/2014/Nov/12/images/ads/current/christian_village_lda_061014.png) |