Sales in the third quarter of 2017 totaled $5.281 billion, a decrease of 6.1 percent, compared with sales of $5.626 billion in the third quarter of 2016. The year-over-year decline in total sales reflects, in part, the closure of stores previously announced by the company. Comparable sales on an owned basis were down 4.0 percent in the third quarter and down 3.6 percent on an owned plus licensed basis. Macy’s, Inc.’s operating income for the third quarter of 2017 totaled $121 million, or 2.3 percent of sales, compared to $107 million, or 1.9 percent of sales, for the third quarter of 2016. Operating income for the third quarter of 2017 totaled $176 million, or 3.3 percent of sales, excluding restructuring and other costs of $33 million and non-cash retirement plan settlement charges of $22 million. Operating income for the third quarter of 2016 totaled $169 million, or 3.0 percent of sales, excluding non-cash retirement plan settlement charges of $62 million. Click Read More below for additional information.
◦U.S. Domestic Operating Profit Jumps 13% and Margin Expands to 14.3%
◦U.S. Domestic Revenue up 8.1% on Strong Air & Ground Product Growth
◦Export Shipments Rise 12% with Gains from all International Regions
◦International Revenue up 2.8%, Currency-Neutral Revenue* 8.3% Higher
◦All Supply Chain & Freight Units Contribute to 12% Revenue Increase
◦Company Reiterates Full-Year 2017 Adjusted EPS Guidance
UPS (NYSE:UPS) today announced earnings per share of $1.58 for the second quarter of 2017, an increase of 11% versus the same period in 2016. The improved earnings per share was due to 7.7% higher revenue. All three business segments generated more profitable product mix, improved yields and better management of operating costs.
“UPS generated great year-over-year revenue gains in the second quarter and we produced solid earnings per share growth, consistent with our plans,” said David Abney, UPS chairman and CEO. “We continue to invest in our network to expand our capabilities, our market presence and our global reach.”
For the total company in 2Q 2017:
◦Revenue increased 7.7%, currency-neutral revenue* jumped 8.9%.
◦Revenue increased in all segments and major product categories, as expanded customer demand spread across the company’s broad product portfolio.
◦Operating profit was up 8.7% to $2.2 billion driven by strong performance in the U.S. Domestic and Supply Chain and Freight segments.
◦The favorable year-over-year 2Q EPS comparison includes benefits of about $0.10, primarily from fuel and workers’ compensation.
◦Year-to-date capital expenditures to support investment strategies were $2.0 billion.
◦This year, UPS has paid dividends of nearly $1.4 billion, an increase of 6.4% per share over the prior year, rewarding shareowners with continued strong dividend yield.
◦As of June 30, 2017, the company has repurchased 8.4 million shares for more than $900 million, reaffirming its commitment to return cash to shareowners.
more detail at: https://www.pressroom.ups.com/pressroom/ContentDetailsViewer.page?ConceptType=PressReleases&id=1501093387432-783