Macy’s Inc. (Cincinnati) has announced that it will no longer reveal its monthly same-store sales.
Macy’s cfo Karen Hoguet told analysts that its decision “could be misconstrued as trying to cut back” on information, but, she said, “our hope is that you will find the information we do provide going forward will be just as meaningful.”
The department store organization’s decision to withhold what is a commonly used yardstick of a retailer’s health and progress seems to be part of a trend among publicly traded retail companies. Sears Holdings Corp. (Hoffman Estates, Ill.) took that step in 2005, at the time of the Sears-Kmart merger, with chairman Edward Lampert calling the metric “vastly overrated.” The Home Depot Inc. (Atlanta) did the same in 2006, arguing that since its supply business was expanding, it no longer was a pure retailer and, therefore, the measure wasn't as relevant.
Some other retailers that have recently withdrawn from reporting monthly sales are CVS Caremark Corp. (Woonsocket, R.I.), Pier 1 Imports Inc. (Fort Worth, Texas), The Talbots Inc. (Hingham, Mass.) and The Dress Barn Inc. (Suffern, N.Y.).