Department Stores

Macy's Posts Weak First-Quarter

Same-store sales decline 9.1 percent in April

Published

15 years ago

May 7, 2009

VMSD Staff

Macy's Inc. (Cincinnati) reported sales for the 13-week first quarter and year to date totaled $5.2 billion, down 9.5 percent during the same period last year. First quarter same-store sales were down 9.0 percent.

On a monthly basis, April total sales were $1.692 billion, a drop of 9.4 percent compared with last year, while same-store sales were down 9.1 percent in April. This is consistent with management's expectations. Online sales (macys.com and bloomingdales.com combined) were up 14.5 percent in April and 16.2 percent for the first quarter of 2009. Online sales are included in the same-store sales calculation for Macy's.

The department store retailer operates more than 840 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's.

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