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|Macy's, Inc. Same-Store Sales Up 4.8% in November|
CINCINNATI, Dec 01, 2011 (BUSINESS WIRE) --
Macy's, Inc. (NYSE:M) today reported total sales of $2.465 billion for the four weeks ended Nov. 26, 2011, an increase of 5.3 percent compared with total sales of $2.341 billion in the four weeks ended Nov. 27, 2010. On a same-store basis, Macy's, Inc. sales were up 4.8 percent in November.
"A strong Black Friday punctuated our very positive sales performance throughout November at both Macy's and Bloomingdale's. This was the first year that Macy's stores opened at 12 midnight on Black Friday, which particularly attracted millennial customers who gravitate to the fashion, newness and value in our merchandise assortments," said Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc. "Our success in November came on top of a very strong month last year and continued the upward trend in our business in stores and online."
For the year to date, Macy's, Inc. sales totaled $20.146 billion, up 5.6 percent from total sales of $19.075 billion in the first 43 weeks of 2010. On a same-store basis, Macy's, Inc.'s year-to-date sales were up 5.2 percent.
Online sales (macys.com and bloomingdales.com combined) were up 49.6 percent in November and 40.9 percent in 2011 year-to-date. Online sales are included in the same-store sales calculation for Macy's, Inc.
Macy's, Inc. reiterated its fourth quarter guidance for same-store sales to be up by 4 percent to 4.5 percent. Should the November sales trend continue, the company said it could exceed that guidance.
Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2010 sales of $25 billion. The company operates about 850 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 seven 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, changes in expected synergies, cost savings and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, manufacturers' outlets, off-price and discount stores, new and established forms of home shopping (including the Internet, mail-order catalogs and television) 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).
SOURCE: Macy's, Inc.