Macy's, Inc. Same-Store Sales up 1.4% in May
CINCINNATI--(BUSINESS WIRE)-- Macy's, Inc. (NYSE:M) today reported total sales of $1.789 billion for the four weeks ended May 29, 2010, an increase of 2.6 percent compared with total sales of $1.744 billion in the four weeks ended May 30, 2009. On a same-store basis, Macy's, Inc. sales were up 1.4 percent in May.
"We were pleased with our sales results for the month of May. Our business trend strengthened toward the end of the month as the weather turned warmer and we approached Memorial Day. Our same-store sales in May would have been up by approximately 5 percent were it not for the later Memorial Day, which shifted the Sunday and Monday of the holiday weekend by one week into the June reporting period this year from the May reporting period last year," said Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc. "Customers are responding to the spring fashions at Macy's and Bloomingdale's, as well as to the tailored assortments that continue to evolve from My Macy's localization."
For the year to date, Macy's, Inc.'s sales totaled $7.363 billion, up 6.1 percent from total sales of $6.943 billion in the first 17 weeks of 2009. On a same-store basis, Macy's, Inc.'s year-to-date sales were up 4.4 percent.
Online sales (macys.com and bloomingdales.com combined) were up 23.2 percent in May 2010 and 31.2 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 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. 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.
Released June 3, 2010