Macy's Inc. (Cincinnati) reports total sales of $2.392 billion for the five weeks ended July 2, 2011, a growth of 7.5 percent compared with the same period last year. On a same-store basis, Macy's sales increased 6.7 percent in June.
“Once again, the growth came from across the company – Macy's and Bloomingdale's stores and online sites,” says Terry Lundgren, Macy's chairman, president and ceo. “This sales trend has validated the effectiveness of our key strategies and enhances our resolve to develop and implement new ideas to maintain the momentum.”
Year-to-date sales are up 6.6 percent to $10.2 billion. On a same-store basis, Macy's, year-to-date sales have grown 6.1 percent.
Online sales grew 45 percent in June and 39.6 percent year-to-date. (Online sales are included in the same-store sales calculation for Macy's, Inc.)
Based on the repots, Macy's is raising its guidance for the second quarter, with expectations that same-store sales will rise by 6 percent, which would calculate to same-store sales growth of approximately 4.8 percent for the full year of fiscal 2011.