(M) Macy’s Incorporated – Bull of the Day

Macy, Inc.’s (M) has been taking prudent steps to increase sales, profitability and cash flows. These include integration of operations, consolidation of divisions and customer-centric localization initiatives. To help drive traffic, Macy’s continues to focus on price optimization, inventory management and merchandise planning.
These help the company to deliver better-than-expected third-quarter 2011 results.

The quarterly earnings of $0.32 per share beat the Zacks Consensus Estimate of $0.16, and portrayed a fourfold increase from $0.08 earned in the prior-year quarter. Following this management raised its outlook. Macy’s now expects fiscal 2011 earnings between $2.70 and $2.75 per share.

The company hinted that it is also seeking to expand both the Macy’s and Bloomingdale’s brands. Macy’s, which saw 4.8% growth in November comparable-store sales, expects comps increase between 4.8% and 5% for fiscal 2011.

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