Macy’s Q4 profit rises 50% on strong holiday selling season
Cincinnati — Macy’s reported Tuesday that net income jumped 50% in the fourth quarter ended Jan. 29, and projected its full-year profit would meet Wall Street expectations.
After a strong holiday season, the retailer earned $667 million in the fourth quarter, compared with $445 million in the year-ago period.
Revenue rose 5% to $8.27 billion, just missing analysts’ average forecast for $8.28 billion. Same-store sales increased 4.3%.
“We believe that our company is now on a clear path that will lead to continued growth in sales, earnings and cash flow in the years ahead,” said Terry J. Lundgren, chairman, president and CEO of Macy’s. “We remain in the early phases of implementing several key strategies — localizing assortments through My Macy’s, embracing customer centricity and driving omnichannel integration.”
For the year, same-stores sales rose 4.6%, compared with Macy’s forecast for a 1% to 2% rise. Online sales gained 28.7% for the fiscal year.
"Fiscal 2010 was a very successful year for Macy’s and Bloomingdale’s based on a combination of strong sales, steady margins and continued expense discipline," Lundgren said.
SAS acquires marketing resource management firm Assetlink
Cary, N.C. — Business analytics software and service provider SAS announced Tuesday that it is acquiring Assetlink, a marketing resource management firm.
According to SAS, combining its customer intelligence offerings with Assetlink’s marketing resource management solutions into an integrated marketing management platform will make it easier for marketers to plan, create and optimize marketing programs. With Assetlink, SAS helps manage and optimize marketing operations through more efficient asset management, increased measurement capabilities and improved financial reporting.
The acquisition positions SAS as a leader within integrated marketing management.
Home Depot earnings soar 72% in Q4
Atlanta — Home Depot reported Tuesday that profit for the quarter ended Jan. 30 surged 72% to $587 million, compared with $342 million a year earlier, and and the home-improvement chain provided 2011 guidance at or above the views it gave in December. Results were helped by a strong showing in the United States.
Revenue increased 3.8% to $15.12 billion, beating Wall Street expectations of $14.81 billion. Same-store sales rose 3.9% and were up 4.8% in the United States.
For the year, net income rose 25%to $3.34 billion from $2.66 billion, or $1.57 per share. Revenue rose 2.8% to $68 billion.