| Unaudited Quarterly Results for the Last Two Years |
Unaudited quarterly results for the last two years were as follows:
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First
Quarter
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Second
Quarter
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Third
Quarter
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Fourth
Quarter
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(millions, except per share data) |
2019: |
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Net sales |
$ |
5,504 |
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$ |
5,546 |
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$ |
5,173 |
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$ |
8,337 |
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Credit card revenues, net |
172 |
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|
176 |
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|
183 |
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239 |
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Cost of sales |
(3,403 |
) |
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(3,395 |
) |
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(3,106 |
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(5,266 |
) |
Selling, general and administrative expenses |
(2,112 |
) |
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(2,177 |
) |
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(2,202 |
) |
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(2,509 |
) |
Gains on sale of real estate |
43 |
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|
7 |
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17 |
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|
95 |
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Restructuring, impairment, store closing and other costs |
(1 |
) |
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(2 |
) |
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(13 |
) |
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(337 |
) |
Benefit plan income, net |
7 |
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8 |
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8 |
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8 |
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Settlement charges |
— |
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— |
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(12 |
) |
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(46 |
) |
Net income attributable to Macy's, Inc. shareholders |
136 |
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|
86 |
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2 |
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|
340 |
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Basic earnings per share attributable to
Macy's, Inc. shareholders
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0.44 |
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|
0.28 |
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|
0.01 |
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|
1.10 |
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Diluted earnings per share attributable to
Macy's, Inc. shareholders
|
0.44 |
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|
0.28 |
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|
0.01 |
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1.09 |
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2018: |
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Net sales |
$ |
5,541 |
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$ |
5,572 |
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$ |
5,404 |
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$ |
8,455 |
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Credit card revenues, net |
157 |
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|
186 |
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185 |
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|
240 |
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Cost of sales |
(3,382 |
) |
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(3,320 |
) |
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(3,226 |
) |
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(5,288 |
) |
Selling, general and administrative expenses |
(2,083 |
) |
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(2,164 |
) |
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(2,255 |
) |
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(2,538 |
) |
Gains on sale of real estate |
24 |
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46 |
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42 |
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|
278 |
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Restructuring, impairment, store closing and other costs |
(19 |
) |
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(17 |
) |
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(3 |
) |
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(97 |
) |
Benefit plan income, net |
11 |
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11 |
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9 |
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8 |
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Settlement charges |
— |
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(50 |
) |
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(23 |
) |
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(15 |
) |
Net income attributable to Macy's, Inc. shareholders |
139 |
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|
166 |
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62 |
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|
740 |
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Basic earnings per share attributable to
Macy's, Inc. shareholders |
0.45 |
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|
0.54 |
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0.20 |
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2.40 |
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Diluted earnings per share attributable to
Macy's, Inc. shareholders |
0.45 |
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|
0.53 |
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0.20 |
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2.37 |
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