Macy’s Same Store Sales up 2.5 percent in October

Macy’s Inc. (Cincinnati) overcame slow early October sales to post a 2.5 percent increase in same store sales for the month. The company attributed the slow start to unreasonably warm weather, but sees the month’s strong finish as evidence of strength going forward.

“We ended the month with a strong trend going into the holiday selling season,” said said Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc.”Customers have reacted positively to the launch of our unique holiday gift-giving merchandise and newness in fashion.”

The company’s total third quarter sales were $5.624 billion, which was a 6.6 percent increase over last week’s same 13-week period. The company’s third-quarter same-store sales were up 3.9 percent. For the year, sales total $16.735 billion, a 7 percent increase over total sales during the first 39 weeks of 2009. Year-to-date same-store sales are up 4.7 percent.

Online sales increased 19.7 percent in October, 24 percent in the third quarter and 28.5 percent in 2010 year-to-date and raised same-store sales by 0.8 percentage points in the third quarter and 0.7 percentage points in the 2010 year to date.