Macy's, Inc. Same-Store Sales up 4.9% in September
CINCINNATI, Oct 06, 2011 (BUSINESS WIRE) --
Macy's, Inc. (NYSE:M) today reported total sales of $2.298 billion for the five weeks ended Oct. 1, 2011, an increase of 5.3 percent compared with total sales of $2.181 billion in the five weeks ended Oct. 2, 2010. On a same-store basis, Macy's, Inc. sales were up 4.9 percent in September.
"We continued to see a strong sales trend in September at both Macy's and Bloomingdale's. Our sales performed well both in stores and online. This underscores that our business remains on track, despite the persistently negative macroeconomic news," said Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc. "Our customers are responding to fashion and uniqueness in the assortment at Macy's and Bloomingdale's. We are feeling quite confident that we will continue to gain market share as we head toward the holiday selling season."
For the year to date, Macy's, Inc.'s sales totaled $15.840 billion, up 6.1 percent from total sales of $14.928 billion in the first 35 weeks of 2010. On a same-store basis, Macy's, Inc.'s year-to-date sales were up 5.6 percent.
Online sales (macys.com and bloomingdales.com combined) were up 43.3 percent in September and 39.4 percent year to date. Online sales are included in the same-store sales calculation for Macy's, Inc.
The company currently expects the increase in its third quarter same-store sales to be on the high end of previously provided guidance of 4 percent to 4.5 percent, and reiterated expectations for fourth quarter same-store sales to be in the range of 4 percent to 4.5 percent.
Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2010 sales of $25 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 four 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.
Media - Jim Sluzewski, 513-579-7764
Investor - Matt Stautberg, 513-579-7780
Released October 6, 2011