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Strong online sales driving results
Macy's Inc. (Cincinnati) reported total sales increased 4 percent to $1.641 billion for the four weeks ended Feb. 27, 2010. On a same-store basis, Macy's Inc. sales were up 3.7 percent for the month. Online sales, which are included in same-store calculations, grew 38 percent in February.
"Sales performance was strong at both Macy's and Bloomingdale's in February, despite a series of winter storms that affected store operations in some of our largest markets during key selling periods of the month,” says Terry Lundgren, chairman, president and ceo of Macy's Inc. “If not for the storms, we estimate that our February same-store sales would have been up by approximately 5 percent.”
Lundgren adds that investment in the company’s online business has contributed to the positive outcome. “Our investments in fulfillment and web navigation infrastructure over the past several years, along with our new in-store point-of-sale systems, are allowing us to fulfill our multichannel strategy for holistically serving customers who shop Macy's and Bloomingdale's stores as well as online," Lundgren says.
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