Macy`s reiterates fall season Same-Store sales guidance

Fashion

Macy`s reiterates fall season Same-Store sales guidance

Macy`s Inc reported total sales of $1.721 billion for the four weeks ended Nov. 1, 2008, a decrease of 6.9 percent compared to total sales of $1.849 billion in the same period last year. On a same-store basis, Macy`s, Inc. sales were down 6.3 percent in October. For the third quarter of 2008, the company`s total sales were $5.500 billion, a decrease of 6.9 percent compared to total sales of $5.906 billion in the same 13-week period last year. On a same-store basis, Macy`s, Inc.`s third-quarter sales were down 6.0 percent. For the year to date, Macy`s, Inc. sales totaled $16.965 billion, down 4.3 percent from total sales of $17.719 billion in the first 39 weeks of 2007. On a same-store basis, Macy`s, Inc.`s year-to-date sales were down 3.5 percent. The company reiterated its guidance for same-store sales in the fall season of 2008 (third and fourth quarters combined) to be down by 3 to 6 percent. Given third quarter results, same-store sales in the fourth quarter therefore are expected to be down by 1 to 6 percent. Because of a dramatic year-over-year calendar shift that resulted in a same-store sales increase of 13.4 percent in November 2007, the company expects a same-store decrease in the low double digits in November 2008 as a full week of sales shifts back into the December period. Macy`s, Inc, with corporate offices in Cincinnati and New York, is one of the nation`s premier retailers, with fiscal 2007 sales of $26.3 billion. The company operates more than 850 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy`s and Bloomingdale`s.

Macy`s Inc

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