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Shares of Macy’s Inc. (M - Analyst Report) attained a new 52-week high of $42.47 on Wednesday, Mar 13, gaining momentum from the better-than-expected fourth-quarter fiscal 2012 results. This Zacks Rank #1 (Strong Buy) department store retailer in the United States eventually closed at $42.11, recording a healthy year-to-date return of roughly 10%. The company currently trades at a forward P/E of 10.79x, a 5.8% discount to the peer group average of 11.46x.

Macy’s is one such company that has been performing fairly well. The company has been taking prudent steps to augment sales, profitability and cash flows. These include integration of operations, consolidation of divisions and customer-centric localization initiatives. To help drive traffic, Macy’s continues to focus on price optimization, inventory management and merchandise planning.

The company posted stronger-than-anticipated fourth-quarter fiscal 2012 results, on the back of My Macy's localization initiatives, omnichannel integration, robust online sales and effective cost management. It declared impressive results on Feb 26, 2013, wherein earnings of $2.05 per share surpassed the Zacks Consensus Estimate of $1.98 by 3.5%. Macy’s has outperformed the Zacks Consensus Estimate for 11 straight quarters by an average of 38.5%.

Macy’s total sales grew 7.2% to $9,350 million in the quarter from $8,724 million in the year-ago period, and came ahead of the Zacks Consensus Estimate of $9,327 million. Comparable-store sales for the quarter climbed 3.9%.

Buoyed by healthy results, management now projects fiscal 2013 earnings between $3.90 and $3.95.

The Zacks Consensus Estimate for fiscal 2013 rose 2.1% to $3.90 per share over the last 30 days. For fiscal 2014, the Zacks Consensus Estimate advanced 1.4% over the same timeframe to $4.40 per share.

Other Stocks to Consider

Other stocks worth considering in the non-food retail, wholesale sector include Express Inc. (EXPR - Snapshot Report), New York & Company Inc. (NWY - Snapshot Report) and Zumiez, Inc. (ZUMZ - Analyst Report), all carrying a Zacks Rank #2 (Buy).

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