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Macy’s (NYSE: M) 4Q18 Results: Revenues Down But Comp Sales Up, Beating Estimates

Macy’s reported 4Q18 revenues of $8.46 billion, down 2.5% year over year and beating the consensus estimate of $8.44 billion. The company reported 4Q18 EPS, excluding special items, of $2.73, down 4.2% from the year ago period but beating the consensus estimate of $2.53. For the full year, the company reported $24.97 billion in revenue, up 0.1% from the year ago of $24.93 billion.

2019 Tax Tracker #3: Tax Filings Continue to Narrow the Gap with Last Year

The US Internal Revenue Service (IRS) tracks tax return filings on a weekly basis. As of February 15, the IRS had received 39.7 million tax returns, down 4.8% year over year. A total of 23.5 million refunds had been issued as of that date (down 26.5% year over year), totaling $62.0 billion (down 38.8% year over year) and averaging $2,640 (down $529 or 16.7% year over year).

WEINSWIG’S WEEKLY FEBRUARY 22, 2019

Amazon was among the retailers to report a slower holiday quarter: The company’s North America sales growth slowed from 35.0% in the third quarter to 18.3% in the fourth quarter. These figures exclude Amazon’s high-growth Amazon Web Services (AWS) business and, so, should closely reflect its retail and marketplace revenues.