Holidays Anyone?

Avatar for ddnlj
iVillage Member
Registered: 03-26-2003
Holidays Anyone?
31
Wed, 11-11-2009 - 10:24am
By Karen Talley
   Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--Macy's Inc.'s (M) fiscal third-quarter loss narrowed more than expected on lower markdowns, but the department store's guidance for the holiday season failed to meet analysts' expectations.


Macy's said it expects fourth-quarter earnings of $1 a share to $1.05 a share, with same-store-sales dropping 1% to 2%, when Wall Street was projecting earnings of $1.17 a share.


The lower-than-expected guidance follows other retailers, including Polo Ralph Lauren Corp. (RL) last week and Fossil Inc. (FOSL) on Tuesday, offering more robust assessments for their fourth quarters.


Macy's shares are responding to the outlook, with the stock down 4.8% to $18.50 pre-market.


Macy's guidance could prove conservative because the retailer demonstrated during the third quarter that it is going into the Christmas season with lean inventories, which could reduce the likelihood of markdowns that would hurt earnings, analysts said.


Earnings for the full year are expected to be $1.01 to $1.06 a share, up from previous guidance of 70 cents to 80 cents a share, but still below analysts' average estimate of $1.11, according to Thomson Reuters. Macy's also improved its outlook for full-year same-store sales, calling for a decline of 5.4% to 5.7%.


During the recession, department stores have posted the biggest sales declines of just about all retail categories because of their extensive exposure to discretionary purchases. Macy's, which grew to national prominence with aggressive acquisitions, has shifted its strategy to show more locally targeted products in its stores rather than a uniform look across the U.S.


Chairman and Chief Executive Terry Lundgren said in a statement Wednesday the company is confident in the locally focused structure heading into the holiday season. Of the 10 districts that performed best by same-store sales last quarter, seven were among those that first adopted the "My Macy's" local-focus program, he said. The company had an "excellent quarter" given the difficult climate, as business progressively improved each month, Lungren said.


For the period ended Oct. 31, Macy's posted a loss of $35 million, or 8 cents a share, compared with a year-earlier loss of $44 million, or 10 cents a share. The periods included restructuring charges of 5 cents and 2 cents, respectively. Analysts anticipated a 7-cent loss.


Macy's said revenue decreased 3.9% to $5.28 billion, with same-store sales down 3.6%, although they were down 4.2% excluding online sales. Online sales, which include both macys.com and bloomingdales.com, were up 21%.


What do you plan to spend on the holidays this year? More, less, same as last year? 


To be honest, I'm in better financial shape now than I've been in the last 4 or 5 years. While I know others are out of work or struggling, I've found these times to be better than in years past for me. Gas isn't $4.00 a gallon, I'm not in debt, and I got a good raise early this year, so I'm doing OK.


However, that doesn't mean I'm going to go on a spending spree. I now pay cash for everything I want. No more credit cards - ever. And I'm saving every penny I can get my hands on.  I have everything I could possibly need -to spend money on STUFF would just be a waste. How many clothes does one person need? Do I really need that high-def TV?  No.  My car runs perfectly fine; I really don't need new one.  Why spend money just for the sake of spending it?


We will  have Christmas and there will be gifts, but we've pretty much already planned it out. We know what we'll be getting and we'll stick close to that. I used to go all out for Christmas, but no more.  It's not worth spending all that money on STUFF.

Photo Sharing and Video Hosting at Photobucket

Pages

iVillage Member
Registered: 02-20-2007
In reply to: ddnlj
Wed, 11-11-2009 - 10:46am

Our family has decided to cut in half what we normally would spend for Christmas gifts. No need to spend money on "stuff" as you put it. I'm with you totally on that. Congrats on the pay increase, and your decision to do away with credit cards. I also have made that decision come the first of the year. I'm withdrawing money from a CD that will pay off 2 cards that have rather large balances, and have made a solemn vow never to carry a CC balance into the next month....ever, ever again.


For the past several years, our family has also set aside a couple of days to volunteer time to assist in whatever way we can the less advantaged folks in the community. Be it giving gifts for their children, helping to serve meals for the homeless, or donating food, fruit baskets, luncheon meats, etc. to a shelter or church. THAT makes all of us feel as if we made a small difference in someone's life for the Holidays, instead of blowing money on an extra gift for someone who doesn't even need it.

iVillage Member
Registered: 08-30-2002
In reply to: ddnlj
Wed, 11-11-2009 - 11:39am
We are getting people "gifts" through the Heifer Project. Everyone we know has too much already. We will buy some toys for the small kids, and something special for me and SO, but that is it. I'd like some new outerwear for both he and I, we've done hoodies to death, and because I'm catering to a wealthier clientel I'd like to look a little trendier. But I love going into San Francisco AFTER the holidays and hitting the sales for clothing.


iVillage Member
Registered: 03-23-2003
In reply to: ddnlj
Thu, 11-12-2009 - 12:38pm

We'll spend about the same per person as we did last year.


iVillage Member
Registered: 09-29-2003
In reply to: ddnlj
Thu, 11-12-2009 - 12:53pm
We're better this year than we were last year. The lower gas prices help a LOT! (my hubby commutes 30 min to work, each way, everyday) I was so excited to pay $2.79 yesterday--lowest it's been here in a WHILE.
Last year, the main thing my girls wanted was a Wii, and we just could not manage it. I know it's just "stuff", but we felt bad, nonetheless. So this year, doing better AND the Wiis have come down in price! So that will be their main gift, with a few stocking stuffers. My bday is in December, so I usually get some books I'm wanting from dh & kids as a bday/xmas gift, which is fine by me. As for our extended family, we don't buy gifts for the adults anymore, just a little thing for each child. Dh usually gets small stuff from us---socks, undies----a new Packer item of clothing! (he's a fan)
Charities I'll be contributing to are our Community Food Bank (they are HURTING, and it's better to send them $ than food, as they can stretch my dollar further), and the local SPCA and no-kill animal shelter. (we're pet lovers!)



 


Mich

iVillage Member
Registered: 03-23-2003
In reply to: ddnlj
Thu, 11-12-2009 - 1:48pm

Seattle Humane Society (no kill shelter) is one of my top charities!


iVillage Member
Registered: 03-30-2007
In reply to: ddnlj
Thu, 11-12-2009 - 3:18pm
I went last night and bought me-self a Christmas present. A new micro-wave. Mine bit the dust last week. I never realized how much I depend on it. ;)
Avatar for ddnlj
iVillage Member
Registered: 03-26-2003
In reply to: ddnlj
Fri, 11-13-2009 - 7:49am
Merry Christmas. Hope you're enjoying the new microwave.
Photo Sharing and Video Hosting at Photobucket
iVillage Member
Registered: 03-18-2000
In reply to: ddnlj
Fri, 11-13-2009 - 10:47am

I don't buy that many gifts anymore. Send gift cert's to GS & DD. For my brother I order a gift basket, with some type of libation,

 


Photobucket&nbs

iVillage Member
Registered: 03-18-2000
In reply to: ddnlj
Fri, 11-13-2009 - 10:53am

Enjoy your new microwave!


One of the most useful gifts I've ever had was a new vacuum cleaner. Mine literally bit the dust. This was before we were married my now DH came-up aces.

Photobucket

 


Photobucket&nbs

iVillage Member
Registered: 02-20-2007
In reply to: ddnlj
Fri, 11-13-2009 - 11:07am

"We do fun things, and DH relaxes"


Does part of DH relaxing involve kicking back and watching as many football games as one man can possibly watch....?????

Pages