Earnings for the fourth quarter ended on Jan. 28 were $1.74 per share on sales of $8.72 billion, up from $1.55 and $8.27 billion a year earlier. Those earnings included, in both years, expenses and pre-tax gains from nonrecurring items.
For all of 2011, earnings totaled $2.92 per share on sales of $26.4 billion, compared with $1.98 and $25 billion the prior year. The earnings figures included one-time expenses and pre-tax gains from both years.
Macy’s management is predicting earnings per share of $3.25 to $3.30 for this fiscal year, with sales increases of 3.5 percent at stores open for at least a year.
The company’s retail operations include Macy’s and Bloomingdale’s stores and the macys.com and bloomingdales.com web sites.
Macy’s expects that its online business will have sales of more than $2 billion this year, said Terry Lundgren, the company’s chairman, president and chief executive officer.