Macy’s, Inc. Same-Store Sales Up 5.1% in August
CINCINNATI--(BUSINESS WIRE)-- Macy’s, Inc. (NYSE: M) today reported total sales of $1.812 billion for the four weeks ended Aug. 25, 2012, an increase of 5.7 percent compared with total sales of $1.714 billion in the four weeks ended Aug. 27, 2011. On a same-store basis, Macy’s, Inc. sales were up 5.1 percent in August 2012 as compared to August 2011.
“Sales exceeded our expectations in August, and the strength was broad-based across merchandise categories, geographies and channels. I am particularly pleased with our back-to-school results in the Millennial customer categories and our improved performance in feminine apparel. Men’s apparel, home furnishings, beauty products, women’s shoes and handbags continue to perform well. Our fall season is off to a healthy start. Customers continue to respond to the new receipts of fashion merchandise across the store. At Macy’s Herald Square flagship store in New York City, our customers are enthusiastic about the first phase of the world’s largest women’s shoe department on the second floor and the newly remodeled fine jewelry environment on the first floor. Additional areas of the remodeled first and second floors will be reopened prior to Thanksgiving,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc.
“Across the company, we are continuing to plow new ground in implementation of our core strategies – My Macy’s merchandise localization; Omnichannel integration of stores, online and mobile; and enhanced customer engagement through MAGIC Selling. We believe these improvements have enabled Macy’s, Inc. to continue to grow sales and capture market share, and position us to better serve customers in the upcoming holiday season.”
For the year to date, Macy’s, Inc.’s sales totaled $14.073 billion, up 3.9 percent from total sales of $13.542 billion in the first 30 weeks of 2011. On a same-store basis, Macy’s, Inc.’s year-to-date sales were up 3.8 percent.
Online sales (macys.com and bloomingdales.com combined) were up 37.4 percent in August and 35.2 percent year-to-date in 2012 compared to 2011. Online sales are included in the same-store sales calculation for Macy’s, Inc.
Macy’s management is scheduled to present at the Goldman Sachs Global Retailing Conference at 9 a.m. on Thursday, Sept. 6 in New York City. Media and investors may access a live audio webcast of the presentation at www.macysinc.com/ir beginning at 9 a.m. The webcast will also be available for replay.
Macy’s, Inc., with corporate offices in Cincinnati and New York, is one of the nation’s premier retailers, with fiscal 2011 sales of $26.4 billion. The company operates about 840 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 10 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 and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, off-price and discount stores, manufacturers’ outlets, the Internet, mail-order catalogs and television shopping 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).
Media - Jim Sluzewski, 513-579-7764
Investor - Matt Stautberg, 513-579-7780
Source: Macy’s, Inc.
Released August 30, 2012