Unaudited Quarterly Results for the Last Two Years |
Unaudited quarterly results for the last two years were as follows: | | | | | | | | | | | | | | | | | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | | (millions, except per share data) | 2019: | | | | | | | | Net sales | $ | 5,504 |
| | $ | 5,546 |
| | $ | 5,173 |
| | $ | 8,337 |
| Credit card revenues, net | 172 |
| | 176 |
| | 183 |
| | 239 |
| | | | | | | | | Cost of sales | (3,403 | ) | | (3,395 | ) | | (3,106 | ) | | (5,266 | ) | Selling, general and administrative expenses | (2,112 | ) | | (2,177 | ) | | (2,202 | ) | | (2,509 | ) | Gains on sale of real estate | 43 |
| | 7 |
| | 17 |
| | 95 |
| Restructuring, impairment, store closing and other costs | (1 | ) | | (2 | ) | | (13 | ) | | (337 | ) | Benefit plan income, net | 7 |
| | 8 |
| | 8 |
| | 8 |
| Settlement charges | — |
| | — |
| | (12 | ) | | (46 | ) | Net income attributable to Macy's, Inc. shareholders | 136 |
| | 86 |
| | 2 |
| | 340 |
| Basic earnings per share attributable to Macy's, Inc. shareholders | 0.44 |
| | 0.28 |
| | 0.01 |
| | 1.10 |
| Diluted earnings per share attributable to Macy's, Inc. shareholders | 0.44 |
| | 0.28 |
| | 0.01 |
| | 1.09 |
| | | | | | | | | 2018: | | | | | | | | Net sales | $ | 5,541 |
| | $ | 5,572 |
| | $ | 5,404 |
| | $ | 8,455 |
| Credit card revenues, net | 157 |
| | 186 |
| | 185 |
| | 240 |
| | | | | | | | | Cost of sales | (3,382 | ) | | (3,320 | ) | | (3,226 | ) | | (5,288 | ) | Selling, general and administrative expenses | (2,083 | ) | | (2,164 | ) | | (2,255 | ) | | (2,538 | ) | Gains on sale of real estate | 24 |
| | 46 |
| | 42 |
| | 278 |
| Restructuring, impairment, store closing and other costs | (19 | ) | | (17 | ) | | (3 | ) | | (97 | ) | Benefit plan income, net | 11 |
| | 11 |
| | 9 |
| | 8 |
| Settlement charges | — |
| | (50 | ) | | (23 | ) | | (15 | ) | Net income attributable to Macy's, Inc. shareholders | 139 |
| | 166 |
| | 62 |
| | 740 |
| Basic earnings per share attributable to Macy's, Inc. shareholders | 0.45 |
| | 0.54 |
| | 0.20 |
| | 2.40 |
| Diluted earnings per share attributable to Macy's, Inc. shareholders | 0.45 |
| | 0.53 |
| | 0.20 |
| | 2.37 |
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