Macy’s, Inc. (M) in the current market after announcing its fourth quarter and fiscal 2021 results. M values at $26.08, gaining more than 1.48% compared to yesterday’s closing price. The stock closed at $25.69 at the end of the last trading session. The stock volume traded in the last trading session was around 12.65 million shares. The current market cap of the company is around $7.69 billion.
Macy’s: Key Financials
- Macy’s, Inc. (M) revenue in Q4 2021 was $8.6 billion. The revenue of Q4 in 2020 was around $6.7 billion.
- Fiscal year revenue was $24.4 billion. The revenue in fiscal 2020 was approximately $17.3 billion.
- The company’s net income in Q4 2021 was around $742 million. The net income is more than four times compared to $160 million in Q4 2020.
- Macy’s net income in fiscal 2021 was around $1.4 billion, more than compared to the net loss of $3.9 billion in fiscal 2020.
- The Q4 2021 Diluted earnings per share were $2.44, comparatively more than the EPS of $0.5 in Q4 2020.
- For fiscal 2021, Diluted earnings per share were $4.55, compared to the loss per share of $12.68 in fiscal 2020.
Macy’s CEO Remarks
Our fourth-quarter results capped off a terrific year, said Macy’s CEO Jeff Gennette. Despite COVID-19, supply chain issues, staffing constraints, and escalating pricing, the firm surpassed forecasts in 2021. Our organization is expanding and serving more clientele.
Following the Polaris, the method has paid off after two years of hard work. He claimed our firm is more robust, agile, and profitable. We believe our digital focus has better positioned us for long-term profitable growth.
2022 Outlook
Polaris’s efforts and robust customer demand are expected to help Macy’s, Inc. achieve positive growth in 2022. Inflation, supply chain difficulties, workforce shortages, and possible COVID-19 variants are all expected macro-environment issues for the firm shortly. A calculated strategy based on these assumptions is reflected in the company’s yearly outlook. The company expects Net sales between $24,460 million and $24,700 million.
Conclusion
Macy’s, Inc. (M) has surpassed all its expected forecasts and is excited to announce its fiscal year performance. The company’s revenue significantly increased in the fourth quarter of 2021. The success of Polaris has proved its significance and value in the company’s growth.
