Macy's Financial Analysis
Macy’s Inc.
Fiscal Year End: January 29, 2011
Date of Report: April 25th, 2011.
By - Monika Gupta
The annual report and 10-K filings were obtained from macys.com. The financial statements included in the annual report are as follows: consolidated statements of operations, consolidated balance sheets, consolidated statements of changes in shareholders’ equity, consolidated statement of cash flows, and notes to consolidated financial statements. In the report, Macy’s Inc. recognizes several competitors which are Bed Bath & Beyond, Belk, Bon Ton, Burlington Coat Factory, Dillard’s, Gap, J.C. Penney, Kohl’s, Limited, Lord & Taylor, Neiman Marcus, Nordstrom, Saks, Sears, Target, TJ Maxx and Wal-Mart. The top three competitors according to ‘finance.yahoo.com’ are Dillard’s Inc, Saks Inc, and J.C. Penney Corporation, Inc. The report states that the company’s independent registered public accounting firm is KPMG LLP. In KPMG LLP’s opinion, “the consolidated financial statements referred to Macy’s Inc., present fairly, in all material respects, the financial position of Macy’s, Inc. and subsidiaries as of January 29, 2011 and January 30, 2010, and the results of its operations and its cash flows for each of the years in the three-year period ended January 29, 2011, in conformity with U.S. generally accepted accounting principles”. Also in their opinion, “Macy’s, Inc. maintained, in all material respects, effective internal control over financial reporting as of January 29, 2011, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Tread way Commission.”
Financial Accounting Analysis The inventory method used by Macy’s Inc. is the last in, first out (LIFO) inventory method. The depreciation method used is straight-line depreciation. The estimated useful life for buildings and building equipment ranges from fifteen to fifty years and it ranges from three to fifteen years
Fiscal Year End: January 29, 2011
Date of Report: April 25th, 2011.
By - Monika Gupta
The annual report and 10-K filings were obtained from macys.com. The financial statements included in the annual report are as follows: consolidated statements of operations, consolidated balance sheets, consolidated statements of changes in shareholders’ equity, consolidated statement of cash flows, and notes to consolidated financial statements. In the report, Macy’s Inc. recognizes several competitors which are Bed Bath & Beyond, Belk, Bon Ton, Burlington Coat Factory, Dillard’s, Gap, J.C. Penney, Kohl’s, Limited, Lord & Taylor, Neiman Marcus, Nordstrom, Saks, Sears, Target, TJ Maxx and Wal-Mart. The top three competitors according to ‘finance.yahoo.com’ are Dillard’s Inc, Saks Inc, and J.C. Penney Corporation, Inc. The report states that the company’s independent registered public accounting firm is KPMG LLP. In KPMG LLP’s opinion, “the consolidated financial statements referred to Macy’s Inc., present fairly, in all material respects, the financial position of Macy’s, Inc. and subsidiaries as of January 29, 2011 and January 30, 2010, and the results of its operations and its cash flows for each of the years in the three-year period ended January 29, 2011, in conformity with U.S. generally accepted accounting principles”. Also in their opinion, “Macy’s, Inc. maintained, in all material respects, effective internal control over financial reporting as of January 29, 2011, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Tread way Commission.”
Financial Accounting Analysis The inventory method used by Macy’s Inc. is the last in, first out (LIFO) inventory method. The depreciation method used is straight-line depreciation. The estimated useful life for buildings and building equipment ranges from fifteen to fifty years and it ranges from three to fifteen years