WASHINGTON (dpa-AFX) - Macy's, Inc. (M) said total sales was $1.34 billion for the four weeks ended Jan. 28, 2012, an increase of 2.0 percent from $1.310 billion in the prior year. On a same-store basis, Macy's, Inc. sales were up 2.4 percent. For the 13-week fourth quarter of fiscal 2011, the company's sales totaled $8.72 billion, up 5.5 percent from $8.27 billion in the prior-year quarter. On a same-store basis, the company's fourth quarter sales were up 5.2 percent. 'The fourth quarter was our strongest in many years, and demonstrated the continued progress in improving the fundamentals in our business at Macy's and Bloomingdale's. Sales in January - the smallest-volume month of the year - were weaker than anticipated. Nonetheless, January was the 26th consecutive month of year-over-year same-store sales growth for our company,' said Terry Lundgren, chairman, president and chief executive officer of Macy's, Inc. Based on strong sales performance, the company is raising its earnings guidance for the fourth quarter and full year. The company currently expects fourth-quarter earnings per share of $1.63 to $1.65, up from the prior view of $1.55 to $1.60. On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.62 per share. Analysts' estimates typically exclude special items. Earnings per share for the full year now are expected to be $2.81 to $2.83, compared to previous guidance of $2.73 to $2.78. Analysts expect the company to earn $2.79 per share.
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