Macys, Inc. reported total sales of $1.94 billion for the four weeks ended May 28, 2011, an increase of 8.5 percent compared with total sales of $1.79 billion in the four weeks ended May 29, 2010. On a same-store basis, Macys, Inc. sales were up 7.4 percent in May.
We continued to see very strong sales results in May as every Macys stores region, Bloomingdales stores, macys.com and bloomingdales.com all met or exceeded our aggressive expectations. We can attribute this success to the continued crisp execution of our major strategies, said Terry J. Lundgren, chairman, president and chief executive officer of Macys, Inc.
For the year to date, Macys, Inc.s sales totaled $7.83 billion, up 6.3 percent from total sales of $7.36 billion in the first 17 weeks of 2010. On a same-store basis, Macys, Inc.s year-to-date sales were up 5.9 percent.
Online sales (macys.com and bloomingdales.com combined) were up 37.7 percent in May and 38.2 percent in the year to date. Online sales are included in the same-store sales calculation for Macy’s, Inc.
The company now expects same-store sales to rise by approximately 5 percent in the second quarter, which would calculate to same-store sales growth of approximately 4.5 percent for the full year of fiscal 2011. Previous guidance was for same-store sales to increase by approximately 4 percent in the second quarter and by approximately 4.3 percent for the full year. As previously noted, year-over-year same-store sales increases in June and July will be lower than in May because of stronger year-ago sales in the final two months of the quarter.
