Macy's, Inc. same-store sales rise 7.3%

Macy's, Inc. has 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. The companies online sales in 2012 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.

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.

Macy's, Inc., has corporate offices in Cincinnati and New York. The company operates about 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 seven Bloomingdale's Outlet stores.