Macy's, Inc. Same-Store Sales up 5.8% in February
CINCINNATI--(BUSINESS WIRE)-- Macy's, Inc. (NYSE:M) today reported total sales of $1.765 billion for the four weeks ended Feb. 26, 2011, an increase of 5.9 percent compared with total sales of $1.667 billion in the four weeks ended Feb. 27, 2010. On a same-store basis, Macy's, Inc. sales were up 5.8 percent in February.
Online sales (macys.com and bloomingdales.com combined) were up 30.9 percent in February. Online sales are included in the same-store sales calculation for Macy's, Inc.
"Our fiscal 2011 started off with a stronger-than-expected February performance at both Macy's and Bloomingdale's. Consumer reaction to new spring merchandise has been encouraging," said Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc.
The company said same-store sales in its combined March-April period are expected to be up by approximately 3 percent, consistent with full-year guidance. March same-store sales are planned to be down, with April planned to be up, given a calendar shift in which the pre-Easter period and a planned cosmetics promotion fall into April this year versus March last year.
Members of Macy's, Inc. senior management will be featured speakers at the Bank of America Merrill Lynch 2011 Consumer Conference, scheduled for 10:05 a.m. ET on Wednesday, March 9, 2011, and at the Telsey Advisory Group Annual Consumer Conference, scheduled for 8:10 a.m. ET on Tuesday, March 29, 2011. Both are in New York City. Media and investors may access the live audio webcasts of each conference at www.macysinc.com/ir, beginning at 10:05 a.m. ET on March 9 (for Bank of America Merrill Lynch) and at 8:10 a.m. ET. On March 29 (for Telsey Advisory Group). Both webcasts 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 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.
Released March 3, 2011