 |
|
 
|
|
|
Sign up now for your FREE subscription to the interactive digital magazine.
|
|
Third quarter sales exceeded company's expectations
Macy’s sales grew 6.6 percent to $5.623 billion in the third quarter ended Oct. 30, 2010. On a same-store basis, sales increased 3.9 percent. For the year to date, the department store chain has sales of $16.734 billion, up 7 percent from the first 39 weeks of 2009. Yearly same-store basis are up 4.7 percent.
During the third quarter, the company opened two new Macy's stores in
Palmdale and Tracy, Calif., a new Bloomingdale's store in Santa Monica, Calif., and three new Bloomingdale's Outlet stores.
"Throughout 2010, we have gained confidence and momentum as customers have responded favorably to our execution of key strategies developed and activated over the past few years,” says Terry Lundgren, chairman, president and ceo. “This bodes well for our business as we enter the holiday selling season with a differentiated and tailored merchandise offering, compelling marketing, and an energized organization of store associates focused on engaging customers.”
He adds, “Bloomingdale's has aggressively capitalized on the return of the upscale customer and has reinforced its reputation for extraordinary contemporary fashion and service.”
Macy's 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 three Bloomingdale's outlet stores.
Did you enjoy this article? Click here to subscribe to the magazine.
