Macy’s, Inc. reported total sales of $1.31 billion for the four weeks ended Jan. 29, 2011, an increase of 4.6% compared with total sales of $1.253 billion in the four weeks ended Jan. 30, 2010. On a same-store basis, Macy’s, Inc. sales were up 2.6% in January.
For fiscal 2010 as a whole, Macy’s, Inc. sales totaled $25.004 billion, up 6.5% from total sales of $23.49 billion in fiscal 2009. On a same-store basis, Macy’s, Inc.’s fiscal 2010 sales were up 4.6%.
“January represented a successful conclusion to a great year of sales growth at Macy’s, Inc. While sales in January were restrained by the series of snowstorms that caused widespread store closings along the East Coast and in the Southeast U.S., we continued to benefit from the underlying strength in our business,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc.
“Same-store sales for fiscal 2010 were above plan and above 2009 in every Macy’s region, as well as at Bloomingdale’s. When we entered the year, our initial guidance was for 2010 same-store sales to be up between 1 percent and 2%. Our actual performance same-store sales growth of 4.6% was a remarkable achievement in a period of economic uncertainty. This strong performance in 2010 was possible because of successful implementation of key strategies, including My Macy’s localization, omnichannel integration of our stores and online businesses, and continued emphasis on fresh, distinctive and exclusive merchandise that appeals to fashion-oriented customers. These are all strategies that will continue to drive our growth in 2011,” Lundgren said.
Online sales (macys.com and bloomingdales.com combined) were up 27.2% in January, 29.1 percent in the fourth quarter and 28.7%for fiscal 2010. Online sales positively affected the company’s same-store sales by 1.1 percentage points in the fourth quarter and 0.9 percentage points in fiscal 2010 as a whole. Online sales are included in the same-store sales calculation for Macy's, Inc.
