Highlights From the Macy's Q1 2014 Earnings Conference Call - Macy's (NYSE:M)

Macy's, Inc

CFO Karen Hoguet had carried an optimistic tone in the company's Q1 2014 conference call on May 14th following the earlier release of the

2014 comp sales guidance 2.5-3 percent
2014 EPS guidance $4.40-$4.50
The Macy's board approved a 25 percent increase dividends to 1.25 per share on an annual basis
$1.5 billion increase in buy back authorization to $2.5 billion
Q1 Sales $6.3 billion down 1.7 percent
Comp sales down 1.6 percent on owned plus licensed down 0.8 percent right way to measure compared to +4% last year
Gross margin up 38.9 percent, merchandise margin up approximately the same amount
SG&A expenses were $2 billion which is 2 percent less than last year. This decrease was driven by, 1.) retirement expense favorable over last year by $39 million 2.) benefits cost reduction initiatives 3.) credit was $5 million better than last year 4.) flexing of expense in sales variable areas 5.) timing shifts in marketing

Hoguet does not see investments in the tech side of the business going down over the year and commented that the company will continue to invest "quite heavily".
Despite the company's stronger performance over the harsh winter season, Hoguet does not believe 2014 guidance is overly conservative.