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Macy's: Same-Store Sales Down 9.2% in March

Posted on: Wed, 15 Apr 2009 01:32:00 EDT

Symbols: M

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Apr 15, 2009 (Close-Up Media via COMTEX) --
M | Quote | Chart | News | PowerRating -- Macy's, Inc. has reported total sales of $1.931 billion for the five weeks ended April 4, a decrease of 9.8 percent compared with total sales of $2.142 billion in the five weeks ended April 5, 2008.

On a same-store basis, Macy's, Inc. sales were down 9.2 percent in March. Macy's said this is consistent with management's expectations.

The company noted that the March-April period should be viewed together in light of the shift in Easter from March last year to April this year.

For the year to date, Macy's, Inc.'s sales totaled $3.508 billion, down 9.6 percent from total sales of $3.879 billion in the first nine weeks of 2008. On a same-store basis, Macy's, Inc.'s year-to-date sales were down 8.9 percent.

Online sales (macys.com and bloomingdales.com combined) were up 17.9 percent in March and 17.1 percent for the year to date. Online sales are included in the same-store sales calculation for Macy's, Inc.

Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2008 sales of $24.9 billion. The company 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. The company also operates macys.com and bloomingdales.com. Prior to June 1, 2007, Macy's, Inc. was known as Federated Department Stores, Inc.

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