Macy’s Inc. (NYSE:M) reported its results for the fourth quarter. Net income for Macy’s Inc. rose to $745 million ($1.74 per share) vs. $667 million ($1.55 per share) in the same quarter a year earlier. This marks a rise of 11.7% from the year-earlier quarter. Revenue rose 5.5% to $8.72 billion from the year-earlier quarter. Macy’s Inc. reported adjusted net income of $1.70 per share. By that measure, the company beat the mean estimate of $1.65 per share. Analysts were expecting revenue of $8.7 billion.
“We have more than doubled our earnings over the past three years, driven by innovative strategic initiatives that are being executed with discipline at both Macy’s and Bloomingdale’s. Our diluted earnings per share, adjusted for certain items, grew by 36 percent in fiscal 2011, on top of double-digit increases in each of 2009 and 2010,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc.
Competitors to Watch: Saks Incorporated (NYSE:SKS), J.C. Penney Company, Inc. (NYSE:JCP), Kohl’s Corporation (NYSE:KSS), Nordstrom, Inc. (NYSE:JWN), Dillard’s, Inc. (NYSE:DDS), Sears Holdings Corporation (NASDAQ:SHLD), The Bon-Ton Stores, Inc. (NASDAQ:BONT), Target Corporation (NYSE:TGT), Wal-Mart Stores, Inc. (NYSE:WMT), and The TJX Companies, Inc. (NYSE:TJX).
Genuine Parts Company (NYSE:GPC) reported its results for the fourth quarter. Net income for the auto parts wholesaler rose to $135 million (86 cents per share) vs. $118.7 million (75 cents per share) in the same quarter a year earlier. This marks a rise of 13.7% from the year-earlier quarter. Revenue rose 7.4% to $3.01 billion from the year-earlier quarter. Genuine Parts Company beat the mean analyst estimate of 83 cents per share. Analysts were expecting revenue of $3.05 billion.
Mr. Gallagher stated, “Genuine Parts Company had another excellent year in 2011, highlighted by double-digit sales and earnings growth and record sales and earnings per share for the second consecutive year. We further strengthened our financial condition with increased net income, an expanded operating margin and a continued emphasis on effectively managing the balance sheet. We are very proud of the job that was done throughout our organization.”
Competitors to Watch: LKQ Corporation (NASDAQ:LKQX), Lithia Motors, Inc. (NYSE:LAD), Dorman Products Inc. (NASDAQ:DORM), Advance Auto Parts, Inc. (NYSE:AAP), O’Reilly Automotive, Inc. (NASDAQ:ORLY), The Pep Boys – Manny, Moe & Jack (NYSE:PBY), U.S. Auto Parts Network, Inc. (NASDAQ:PRTS), General Motors Company (NYSE:GM), Toyota Motor Corp. (NYSE:TM), Honda Motor CO., Ltd. (NYSE:HMC), Ford Motor Company (NYSE:F), CarMax (NYSE:KMX), Tesla Motors Inc (NASDAQ:TSLA), Tata Motors Limited (NYSE:TTM) and Navistar Intl. Corp. (NYSE:NAV).
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