Macy's lower after Jan. sales disappoint

|About: Macy's Inc. (M)|By:, SA News Editor

Macy's (M) announces comparable-store sales rose 1.4% in Q4, a mark which improves to 4.3% if sales from departments licensed to third parties is included.

The retailer says it's "very disappointed" with its poor sales performance in January amid harsh winter weather. The month saw a 7%-8% drop in comp sales.

Gross margin rate was flat from the year-ago period indicating sell-through prices held up for the company better than most peers.

Guidance for comparable sales growth in FY14 is set at 2.5%-3.0%.

M -2.1% premarket