Macy's 2006 Annual Report Download - page 2

Federated Department Stores, Inc. is one of America’s premier national
retailers, operating more than 850 Macy’s and Bloomingdale’s stores in 45
states, the District of Columbia, Guam and Puerto Rico. The company also
operates macys.com, bloomingdales.com and Bloomingdale’s By Mail.
Retail Divisions
Store counts as of 2/3/07
Notes: (1) Represents the year-to-year percentage change in net sales from Bloomingdale’s and Macy’s stores in operation throughout the year presented and the immediately preceding
year and all Internet sales and mail order sales from continuing businesses.
(2) Represents income from continuing operations of $1.446 billion for 2006, $2.044 billion for 2005 and $1.116 billion for 2004 adjusted to exclude the eects of inventory valuation
adjustments related to the May integration of $178 million in 2006 and $25 million in 2005, May integration costs of $450 million in 2006 and $169 million in 2005 and the gains
on the sale of accounts receivable of $191 million in 2006 and $480 million in 2005.
(3) Represents income from continuing operations per diluted share of $1.80 for 2006, $3.16 for 2005 and $1.93 for 2004 adjusted to exclude the diluted earnings per share eects
of the May merger integration costs and related inventory valuation adjustments of $.72 in 2006 and $.28 in 2005 and the gains on sale of accounts receivable of $.22 in 2006
and $.89 in 2005.
The foregoing nancial highlights should be read in conjunction with the audited nancial statements, including the related notes and other nancial information contained
in the Form 10-K for the period ending February 3, 2007.
Net Sales $ 26.970 billion $ 22.390 billion $ 15.776 billion
Change in same-store sales (Note 1) 4.4 % 1.3 % 2.6 %
Income from Continuing Operations
Before Income Taxes $ 1.446 billion $ 2.044 billion $ 1.116 billion
% of Sales 5.4 % 9.1 % 7.1 %
Income from Continuing Operations
Before Income Taxes, Excluding Certain Items (Note 2) $ 1.883 billion $ 1.758 billion $ 1.116 billion
% of Sales 7.0 % 7.9 % 7.1 %
Diluted Earnings Per Share
Income from Continuing Operations $ 1.80 $ 3.16 $ 1.93
Income from Continuing Operations, Excluding Certain Items (Note 3) $ 2.30 $ 2.55 $ 1.93
Net Income $ 1.81 $ 3.24 $ 1.93
Financial Highlights
2006 2005 2004
Bloomingdale’s
Headquarters: New York, NY
38 stores, bloomingdales.com
and Bloomingdale’s By Mail
Federated Corporate Services
Headquarters: Cincinnati, OH
Federated Logistics & Operations
Headquarters: Secaucus, NJ
Federated Systems Group
Headquarters: Atlanta, GA
Financial, Administrative & Credit Services
Headquarters: Cincinnati, OH
Macy’s Corporate Marketing
Headquarters: New York, NY
Macy’s Home Store
Headquarters: New York, NY
Macy’s Merchandising Group
Headquarters: New York, NY
Macy’s East
Headquarters: New York, NY
190 stores
Macy’s Florida
Headquarters: Miami, FL
60 stores
Macy’s Midwest
Headquarters: St. Louis, MO
93 stores
Macy’s North
Headquarters: Minneapolis, MN
63 stores
Macy’s Northwest
Headquarters: Seattle, WA
68 stores
Macy’s South
Headquarters: Atlanta, GA
156 stores
Macy’s West
Headquarters: San Francisco, CA
190 stores
macys.com
Headquarters: New York, NY/
San Francisco, CA
Support Divisions