Macy's, Inc. Same-Store Sales Down 9.2% in March
CINCINNATI, Apr 09, 2009 (BUSINESS WIRE) -- Macy's, Inc. (NYSE:M) today reported total sales of $1.931 billion for the five weeks ended April 4, 2009, a decrease of 9.8 percent compared with total sales of $2.142 billion in the five weeks ended April 5, 2008. On a same-store basis, Macy's, Inc. sales were down 9.2 percent in March. This is consistent with management's expectations.
The company noted that the March-April period should be viewed together in light of the shift in Easter from March last year to April this year.
For the year to date, Macy's, Inc.'s sales totaled $3.508 billion, down 9.6 percent from total sales of $3.879 billion in the first nine weeks of 2008. On a same-store basis, Macy's, Inc.'s year-to-date sales were down 8.9 percent.
Online sales (macys.com and bloomingdales.com combined) were up 17.9 percent in March and 17.1 percent for the year to date. Online sales are included in the same-store sales calculation for Macy's, Inc.
Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2008 sales of $24.9 billion. The company operates more than 840 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's. The company also operates macys.com and bloomingdales.com. Prior to June 1, 2007, Macy's, Inc. was known as Federated Department Stores, Inc.
All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy's management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates, changes in expected synergies, cost savings and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, manufacturers' outlets, off-price and discount stores, new and established forms of home shopping (including the Internet, mail-order catalogs and television) and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission.
(NOTE: Additional information on Macy's, Inc., including past news releases, is available at www.macysinc.com/pressroom)
SOURCE: Macy's, Inc.
Media - Jim Sluzewski, 513-579-7764
Investor - Susan Robinson, 513-579-7780
Released April 9, 2009