The financial report is based on the Financial Statements of department stores and Internet Websites that sell various types of merchandise such as men’s, women’s, and children’s apparel; accessories, cosmetics, home furnishings, and other consumer goods. Specifically for Macy’s, Inc., the figures mentioned above were obtained from the Balance Sheets of Jan 31st, 2009 and Jan 30th, 2010, as well as the Income Statement for the 52-week periods ending on those dates. The company’s Total Assets for the latest year amount to $21,300 which is a decrease of 3.2% compared to the previous year.
In January 2009, the Current Assets accounted for 30.44% of the Total Assets, while in January 2010 they represented 32.31%. This growth was driven by a $142 increase, reaching a total value of $6,882. The Cash and Cash Equivalents account contributed to this growth with a 29.1% increase, reaching $1,686 (7.92% of total assets) compared to the previous year’s value of 5.9%. However, the Accounts Receivable decreased by 18.5%, or $81, from its FY08 figure of $439.
Conversely, the Current Assets accounted for 69.56% and 67.69% of total assets in each respective period, resulting in a decrease of $987 from the first period to a final value of $14,418 at the end of the last period. Within Non-Current Assets category, Property Plant and Equipment experienced an 8.95% loss or reduction by $935 from its FY08 value of $10,442 representing initially the largest portion (47.15%) and then decreasing further to account for only 44.63%.
The total Liabilities represent 79.02% and 77.93% of the total assets, which amount to $16,599 and are $900 less than the previous figure. The Current Liabilities account for $4,454 and 20.91% of the FY09 closing assets, a decrease of $672 compared to the previous closing that represented 23.15% of Total Assets from that year.
Among the Current Liabilities accounts, Accounts Payable stands out at 11.88% and 12.33% of total assets each year closing. However, the Current Portion of Bank Loans experienced a significant decline by 74.5%, going from $966 in FY08 to its current value.
The Non-Current Liabilities section represents 55.87% and 57.02%, decreasing by $228 from its previous value of $12,373. Long Term Obligations also make up a considerable portion of Liabilities with only a slight change in value from FY08 to now.
Equity accounts for approximately 20.98% and 22.07% sequentially based on each year’s total assets amounting to Retained Earnings increasing its value by approximately13%.
On the Income Statement section, sales in the latest period decreased by 5.64% compared to the previous period, leaving a total of $23,489. General Expenses also decreased, representing only 34.32% of Net Sales, a decrease of 55.69% from the previous period’s $13,863. EBIT improved from a negative value in the previous fiscal year to $1,063, which is 4.53% of Net Sales. Income before Taxes for the period ending on January 30th, 2010 was reduced to 2.37% due to financial expenses, resulting in a value of $507 (2.6% of Net Sales). Net Income after taxes accounted for 1.49% of Net Sales, equivalent to $350. In the Fiscal Year ending on Jan 31st, 2009, EBIT, Income before Taxes, and Net Loss were all negative, making them incomparable to the numbers of the following fiscal year. Disclaimer: The preceding report represents the analysts’ perspective; readers are responsible for using this report as a financial tool and the analysts will not be held accountable for any decisions made based on it.
