February 27, 2018 / 1:10 PM / 7 months ago

BRIEF-Macy's Q4 Earnings Per Share $4.31

Feb 27 (Reuters) - Macy’s Inc:

* MACY’S, INC. REPORTS FOURTH QUARTER AND FY 2017 EARNINGS AND PROVIDES 2018 GUIDANCE

* Q4 SAME STORE SALES ROSE 1.3 PERCENT

* COMPANY PLANS TO RETURN TO COMPARABLE SALES GROWTH IN 2018

* Q4 EARNINGS PER SHARE VIEW $2.71, REVENUE VIEW $8.68 BILLION — THOMSON REUTERS I/B/E/S

* COMPARABLE SALES ON AN OWNED BASIS WERE UP 1.3 PERCENT IN Q4

* MACY’S - FOR FISCAL 2018, EXPECTS COMPARABLE SALES ON BOTH AN OWNED AND AN OWNED PLUS LICENSED BASIS TO BE FLAT TO UP 1 PERCENT

* TOTAL SALES ARE EXPECTED TO BE DOWN BETWEEN 0.5 PERCENT AND 2 PERCENT IN FISCAL 2018‍​

* QTRLY COMPARABLE SALES UP 1.4 PERCENT ON AN OWNED PLUS LICENSED BASIS

* MACY’S - “STRATEGICALLY INVESTING” TO ACCELERATE ROLLOUT OF NEAR-TERM GROWTH INITIATIVES IMPACTING STORES, TECHNOLOGY & MERCHANDISING

* ADJUSTED EPS OF $3.55 TO $3.75 EXPECTED IN FISCAL 2018, EXCLUDING ANTICIPATED SETTLEMENT CHARGES RELATED TO CO’S DEFINED BENEFIT PLANS‍​

* MACY’S - HEADING INTO FISCAL 2018, CO CONTINUES TO OPPORTUNISTICALLY EVALUATE REAL ESTATE PORTFOLIO

* MACY’S - NOW EXPLORING OPPORTUNITIES TO SELL ABOUT 240,000 GROSS SQ. FT. I. MAGNIN PORTION OF MAIN UNION SQUARE BUILDING IN SAN FRANCISCO

* ADJUSTED EPS GUIDANCE INCLUDE ANTICIPATED ASSET SALE GAINS OF $300 MILLION TO $325 MILLION IN FISCAL 2018

* MACY’S - CONTINUES TO WORK WITH BROOKFIELD AS PART OF ITS STRATEGIC ALLIANCE

* ANTICIPATES AN EFFECTIVE ANNUAL TAX RATE OF 23.25 PERCENT FOR FISCAL 2018‍​

* MACY’S - CO, BROOKFIELD HAVE AGREED TO CERTAIN TERMS ON NINE ASSETS WHICH BROOKFIELD WILL REDEVELOP AFTER NECESSARY APPROVALS

* CO, BROOKFIELD HAVE AGREED TO CERTAIN TERMS ON NINE ASSETS WHICH BROOKFIELD WILL REDEVELOP ONCE IT HAS RECEIVED NECESSARY APPROVALS

* MACY’S - UPON COMPLETION OF SOME APPROVALS, CO WILL EITHER SELL INTERESTS IN SOME INDIVIDUAL ASSETS TO BROOKFIELD OR CONTRIBUTE THEM TO INDIVIDUAL JV

* IF SOLD, CUMULATIVE VALUE OF NINE ASSETS ON WHICH TERMS HAVE BEEN AGREED IS ESTIMATED TO BE APPROXIMATELY $50 MILLION

* MACY’S - CO WOULD BE ENTITLED TO INCREASED PURCHASE PRICE ON THE NINE ASSETS IF SOME FINANCIAL TARGETS ARE ACHIEVED FOR THREE LARGEST ASSETS

* FEDERAL TAX REFORM LED TO RECOGNITION OF NON-CASH TAX BENEFIT OF $571 MILLION FOR 14 WEEKS ENDED FEB 3, 2018

* FY2018 EARNINGS PER SHARE VIEW $3.66 — THOMSON REUTERS I/B/E/S

* FY2018 REVENUE VIEW $24.88 BILLION — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

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