Macy’s, Inc. Same-Store Sales Rise 7.3% In March

Macy’s, Inc. (NYSE:M) today reported total sales of $2.358 billion for the five weeks ended March 31, 2012, an increase of 6.9 percent compared with total sales of $2.206 billion in the five weeks ended April 2, 2011. On a same-store basis, Macy’s, Inc. sales were up 7.3 percent in March 2012 as compared to March 2011.

For the year to date, Macy's, Inc.'s sales totaled $4.218 billion, up 6.3 percent from total sales of $3.969 billion in the first nine weeks of 2011. On a same-store basis, Macy's, Inc.'s year-to-date sales were up 6.1 percent.

Online sales in 2012 (macys.com and bloomingdales.com combined) were up 39.0 percent in March and 35.6 percent year-to-date compared to 2011. Online sales are included in the same-store sales calculation for Macy's, Inc.

“March sales exceeded our expectations beyond the benefits we anticipated from an earlier Easter and a shift in a cosmetics event from April last year to March this year. Once again, our strength in performance was balanced across Macy’s and Bloomingdale’s, stores and online, geographies and families of business,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc. “The early warm weather drew attention to our outstanding assortments of fresh spring goods, which were received enthusiastically by customers.”

Based on strong March results, the company said same-store sales in its combined March-April period, as well as in the first quarter as a whole, are expected to be up by 4.3 percent to 4.5 percent. This compares to previous guidance for combined March-April same store sales to rise by approximately 3 percent to 3.5 percent. The new guidance calculates to an expected same-store sales increase in the range of 1 percent to 1.3 percent in April. Sales in April are planned to be weaker than in March, given the calendar shift in which the pre-Easter period falls into March this year versus April last year, as well as the cosmetics event shift. Moreover, April sales are expected to be disadvantaged by a Mother’s Day that is later in May this year.

1 2 Next › Last »