Annual report pursuant to Section 13 and 15(d)

Quarterly Results (unaudited)

v3.20.1
Quarterly Results (unaudited)
12 Months Ended
Feb. 01, 2020
Quarterly Financial Data [Abstract]  
Quarterly Results (unaudited)
Quarterly Results (unaudited)
Unaudited quarterly results for the last two years were as follows:
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(millions, except per share data)
2019:
 
 
 
 
 
 
 
Net sales
$
5,504

 
$
5,546

 
$
5,173

 
$
8,337

Credit card revenues, net
172

 
176

 
183

 
239

 
 
 
 
 
 
 
 
Cost of sales
(3,403
)
 
(3,395
)
 
(3,106
)
 
(5,266
)
Selling, general and administrative expenses
(2,112
)
 
(2,177
)
 
(2,202
)
 
(2,509
)
Gains on sale of real estate
43

 
7

 
17

 
95

Restructuring, impairment, store closing and other costs
(1
)
 
(2
)
 
(13
)
 
(337
)
Benefit plan income, net
7

 
8

 
8

 
8

Settlement charges

 

 
(12
)
 
(46
)
Net income attributable to Macy's, Inc. shareholders
136

 
86

 
2

 
340

Basic earnings per share attributable to  
    Macy's, Inc. shareholders
0.44

 
0.28

 
0.01

 
1.10

Diluted earnings per share attributable to
    Macy's, Inc. shareholders
0.44

 
0.28

 
0.01

 
1.09

 
 
 
 
 
 
 
 
2018:
 
 
 
 
 
 
 
Net sales
$
5,541

 
$
5,572

 
$
5,404

 
$
8,455

Credit card revenues, net
157

 
186

 
185

 
240

 
 
 
 
 
 
 
 
Cost of sales
(3,382
)
 
(3,320
)
 
(3,226
)
 
(5,288
)
Selling, general and administrative expenses
(2,083
)
 
(2,164
)
 
(2,255
)
 
(2,538
)
Gains on sale of real estate
24

 
46

 
42

 
278

Restructuring, impairment, store closing and other costs
(19
)
 
(17
)
 
(3
)
 
(97
)
Benefit plan income, net
11

 
11

 
9

 
8

Settlement charges

 
(50
)
 
(23
)
 
(15
)
Net income attributable to Macy's, Inc. shareholders
139

 
166

 
62

 
740

Basic earnings per share attributable to  
    Macy's, Inc. shareholders
0.45

 
0.54

 
0.20

 
2.40

Diluted earnings per share attributable to
    Macy's, Inc. shareholders
0.45

 
0.53

 
0.20

 
2.37


Note: Annual results may not equal the sum of the quarterly results for the respective periods due to rounding conventions.