Macy’s, Inc. Same-Store Sales Up 4.1% in October
Company raises same-store sales guidance for second half of 2012
CINCINNATI -- November 01, 2012
Macy’s, Inc. (NYSE:M) today reported total sales of $1.908 billion for the
four weeks ended Oct. 27, 2012, an increase of 3.6 percent compared with total
sales of $1.842 billion in the four weeks ended Oct. 29, 2011. On a same-store
basis, Macy’s, Inc. sales were up 4.1 percent in October as compared to
“Business was strong in October, and we delivered a solid performance in the
third quarter,” said Terry J. Lundgren, chairman, president and chief
executive officer of Macy’s, Inc. “The key growth strategies we put in place
three years ago continue to provide us new opportunities for continuous
improvement in driving sales. We are feeling confident about our prospects for
the upcoming holiday season and have increased our sales guidance for the fall
season, despite the interruption caused by Hurricane Sandy in the first few
days of the fourth quarter.”
More than 200 Macy’s and Bloomingdale’s stores were closed for some period of
time (ranging from a few hours to multiple days) as a result of Hurricane
Sandy. The company is confident that it can make up some or most of the lost
sales through the remainder of the quarter.
“Our thoughts and prayers continue to go out to the thousands of our
associates and millions of our customers who were affected by the hurricane.
In our preparation for the storm, their safety was our utmost concern. We are
grateful to the teams in our stores, systems, logistics and central office
operations for their extraordinary efforts in helping us to prepare thoroughly
and recover quickly from Hurricane Sandy,” Lundgren said.
Given strong third quarter sales performance, Macy’s, Inc. is raising its
guidance for same-store sales growth in the second half of 2012 to
approximately 4 percent (an increase from previous guidance of up
approximately 3.7 percent). This calculates to guidance for same-store sales
in the fourth quarter to grow by approximately 4.2 percent.
For the third quarter of 2012, the company’s total sales were $6.076 billion,
an increase of 3.8 percent compared with total sales of $5.853 billion in the
same 13-week period last year. On a same-store basis, Macy’s, Inc.’s
third-quarter sales were up 3.7 percent.
For the year to date, Macy’s, Inc. sales totaled $18.337 billion, up 3.7
percent from total sales of $17.681 billion in the first 39 weeks of 2011. On
a same-store basis, Macy’s, Inc.’s year-to-date sales were up 3.7 percent.
Online sales (macys.com and bloomingdales.com combined) were up 44.6 percent
in October, 40.4 percent in the third quarter and 36.8 percent year-to-date in
2012 compared to 2011. Online sales positively affected the company’s
same-store sales by 2.2 percentage points in the third quarter and 1.8
percentage points in the year to date. Online sales are included in the
same-store sales calculation for Macy's, Inc.
Macy’s, Inc. is scheduled to report its third quarter earnings on Wednesday,
Nov. 7, and will webcast a call with financial analysts and investors that day
at 10:30 a.m. (ET). Macys, Inc.’s webcast is accessible to the media and
general public via the company's website at www.macysinc.com. Analysts and
investors may call in on 1-888-724-9511, passcode 5303489. A replay of the
conference call can be accessed on the website or by calling 1-888-203-1112
(same passcode) about two hours after the conclusion of the call.
Macy’s, Inc., with corporate offices in Cincinnati and New York, is one of the
nation’s premier retailers, with fiscal 2011 sales of $26.4 billion. 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,
as well as the macys.com and bloomingdales.com websites. The company also
operates 11 Bloomingdale’s Outlet stores.
All statements in this press release that are not statements of historical
fact are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are based upon the
current beliefs and expectations of Macy’s management and are subject to
significant risks and uncertainties. Actual results could differ materially
from those expressed in or implied by the forward-looking statements contained
in this release because of a variety of factors, including conditions to, or
changes in the timing of, proposed transactions, prevailing interest rates and
non-recurring charges, competitive pressures from specialty stores, general
merchandise stores, off-price and discount stores, manufacturers’ outlets, the
Internet, mail-order catalogs and television shopping and general consumer
spending levels, including the impact of the availability and level of
consumer debt, the effect of weather and other factors identified in documents
filed by the company with the Securities and Exchange Commission.
(NOTE: Additional information on Macy’s, Inc., including past news releases,
is available at www.macysinc.com/pressroom).
Jim Sluzewski, 513-579-7764
Matt Stautberg, 513-579-7780
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