Macy's, Inc. Same-Store Sales up 4.8% in September

CINCINNATI--(BUSINESS WIRE)-- Macy's, Inc. (NYSE:M) today reported total sales of $2.183 billion for the five weeks ended Oct. 2, 2010, an increase of 6.9 percent compared with total sales of $2.042 billion in the five weeks ended Oct. 3, 2009. On a same-store basis, Macy's, Inc. sales were up 4.8 percent in September.

"We are very pleased with our sales performance in September. The back-to-school season has been one of our most successful in years, including continued strong results from private brands such as American Rag and the launch of Material Girl, the exclusive juniors brand by Madonna. We also have launched the Kenneth Cole Reaction men's sportswear brand exclusively at Macy's, and we are preparing for the coming of Sean John men's sportswear exclusively at Macy's," said Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc. "We continue to be impressed by the ability of our My Macy's localization initiatives to address specific customer needs by location, including in those pilot markets where implementation now is in its third year. The sales growth at both Macy's and Bloomingdale's has fueled a high level of energy and spirit within our organization. We believe this momentum will work to our benefit as we approach the upcoming holiday selling season."

For the year to date, Macy's, Inc. sales totaled $14.930 billion, up 7.0 percent from total sales of $13.947 billion in the first 35 weeks of 2009. On a same-store basis, Macy's, Inc.'s year-to-date sales were up 5.0 percent.

Online sales (macys.com and bloomingdales.com combined) were up 29.3 percent in September and 29.8 percent 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 2009 sales of $23.5 billion. The company operates about 850 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's, as well as the macys.com and bloomingdales.com websites. The company also operates two Bloomingdale's outlet stores.

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.