Saks Eats Their Dust
Saks (SKS) and Macy's (M) reported earnings Tuesday morning, and the results couldn't be more different. Saks reported a same-store sales climb of just 0.7% for its fiscal fourth quarter, while Macy's continues its winning ways with a comps gain of 3.9%. In the last five years, Macy's shares have significantly outperformed Saks and the S&P 500.
In terms of earnings, as well, Macy's beat the Street consensus estimate by $0.07 with a $2.05 profit per share. Revenue totaled $9.35 billion, up 7.2% year over year. For fiscal 2014, management now sees earnings per share of between $3.90 and $3.95 -- up from a previous estimate of $3.81. Same-store sales are pegged to rise 3.5%....205 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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