Macy’s Same-Store Sales Up +4.1% in December (M)
On Thursday department store chain Macy’s, Inc. (M) reported a rise in both total sales and comparable sales in December.
The Cincinnati, Ohio-based company reported total net sales of $5.102 billion in December, up +3.6% compared to the $4.923 billion in sales in the same period a year ago. Comparable same-store sales were up +4.1% in December compared to December 2011.
For the combined November and December period, same-store sales increased +2.5% compared to the same period in 2011.
For the calendar year in 2012, Macy’s sales were $25.887 billion, up +3.3% compared to the $25.068 billion in sales in 2011. On a same-store basis, Macy’s 2012 sales were up +3.3%.
Macy’s shares were up slightly in premarket trading on Thursday. The stock is up +19.05% over the past year.
The Bottom Line
Shares of Macy’s (M) have a 2.09% dividend yield, based on last night’s closing stock price of $38.31. The stock has technical support in the $35 price area. If the shares can firm up, we see overhead resistance around the $41-$42 price levels.
Macy’s, Inc. (M) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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