Macy's reported results for the fourth quarter and fiscal 2018 and provided annual sales and earnings guidance for fiscal 2019. Some key takeaways:
- Annual comparable sales growth of 1.7% on an owned basis; 2.0% on an owned plus licensed basis
- Annual EPS of $3.56; annual adjusted EPS of $4.18
- Strategic initiatives gain traction and position company for continued comparable sales growth
- Company launches multi-year productivity program to fund reinvestment in the business; streamlines management structure