Macy's October Sales Comparison Slips

CINCINNATI (AP) — Department store operator Macy's Inc. said Thursday sales at stores open at least one year edged down 0.8 percent in October.

Total sales for the four-week period ended Oct. 31 fell 1 percent to $1.71 billion.

Analysts surveyed by Thomson Reuters, on average, expected same-store sales to fall 0.1 percent.

Sales in stores open at least a year are a key measure of retailer performance, because they measure growth at existing stores rather than from newly opened ones.

For the third quarter ended Oct. 31, sales in stores open at least one year fell 3.6 percent while total sales fell 4 percent to $5.28 billion. Analysts predicted revenue of $5.21 billion.

Year-to-date, sales in stores open at least one year fell 7.5 percent and total sales fell 7.8 percent to $16.96 billion.