Macy’s, Inc. reported total sales of $1.81 billion for the four weeks ended Oct. 30, 2010, an increase of 6.8% compared with total sales of $1.69 billion in the four weeks ended Oct. 31, 2009. On a same-store basis, Macy’s, Inc. sales were up 2.5% in October.

“While we experienced some softness in sales early in October given the unseasonably warm weather, we ended the month with a strong trend going into the holiday selling season. Customers have reacted positively to the launch of our unique holiday gift-giving merchandise and newness in fashion. We also launched our latest exclusive brand relationship with Kenneth Cole Reaction men’s sportswear, now sold only at Macy’s. Overall, we are pleased with our sales performance in the third quarter and the continued results of major strategies including our My Macy’s localization initiative. Bloomingdale’s sales continued to be strong in October and the third quarter,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc. “Our repurchase of another $500 million of debt in the third quarter reflects our strong cash position, as well as our confidence about the strength of the business going forward.”

For the third quarter of 2010, the company’s total sales were $5.62 billion, an increase of 6.6% compared with total sales of $5.28 billion in the same 13-week period last year. On a same-store basis, Macy’s, Inc.’s third-quarter sales were up 3.9%.

For the year to date, Macy’s, Inc. sales totaled $16.74 billion, up 7.0% from total sales of $15.6 billion in the first 39 weeks of 2009. On a same-store basis, Macy’s, Inc.’s year-to-date sales were up 4.7%.

Online sales were up 19.7%in October, 24.0% in the third quarter and 28.5% in 2010 year-to-date. Online sales positively affected the company’s same-store sales by 0.8 percentage points in the third quarter and 0.7 percentage points in the year to date. Online sales are included in the same-store sales calculation for Macy's, Inc.
Macy’s, Inc. reported total sales of $1.81 billion for the four weeks ended Oct. 30, 2010, an increase of 6.8% compared with total sales of $1.69 billion in the four weeks ended Oct. 31, 2009. On a same-store basis, Macy’s, Inc. sales were up 2.5% in October.

“While we experienced some softness in sales early in October given the unseasonably warm weather, we ended the month with a strong trend going into the holiday selling season. Customers have reacted positively to the launch of our unique holiday gift-giving merchandise and newness in fashion. We also launched our latest exclusive brand relationship with Kenneth Cole Reaction men’s sportswear, now sold only at Macy’s. Overall, we are pleased with our sales performance in the third quarter and the continued results of major strategies including our My Macy’s localization initiative. Bloomingdale’s sales continued to be strong in October and the third quarter,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc. “Our repurchase of another $500 million of debt in the third quarter reflects our strong cash position, as well as our confidence about the strength of the business going forward.”

For the third quarter of 2010, the company’s total sales were $5.62 billion, an increase of 6.6% compared with total sales of $5.28 billion in the same 13-week period last year. On a same-store basis, Macy’s, Inc.’s third-quarter sales were up 3.9%.

For the year to date, Macy’s, Inc. sales totaled $16.74 billion, up 7.0% from total sales of $15.6 billion in the first 39 weeks of 2009. On a same-store basis, Macy’s, Inc.’s year-to-date sales were up 4.7%.

Online sales were up 19.7%in October, 24.0% in the third quarter and 28.5% in 2010 year-to-date. Online sales positively affected the company’s same-store sales by 0.8 percentage points in the third quarter and 0.7 percentage points in the year to date. Online sales are included in the same-store sales calculation for Macy's, Inc.

Updated Guidance

The company’s guidance is for same-store sales in the fourth quarter of 2010 to be up 3% to 4%. This translates to same-store sales for the second half of 2010 to be up 3.3% to 4%, compared with previous guidance (provided in August 2010) of up 3% to 3.5%.

Based on stronger sales expectations, Macy’s, Inc. is increasing its earnings guidance for the second half of 2010 to $1.50 to $1.55 per diluted share, excluding expenses associated with the early retirement of debt in the third quarter. This compares with previous guidance (provided in August 2010) of $1.45 to $1.50 per diluted share for the second half of 2010.

The company’s guidance is for same-store sales in the fourth quarter of 2010 to be up 3% to 4%. This translates to same-store sales for the second half of 2010 to be up 3.3% to 4%, compared with previous guidance (provided in August 2010) of up 3% to 3.5%.

Based on stronger sales expectations, Macy’s, Inc. is increasing its earnings guidance for the second half of 2010 to $1.50 to $1.55 per diluted share, excluding expenses associated with the early retirement of debt in the third quarter. This compares with previous guidance (provided in August 2010) of $1.45 to $1.50 per diluted share for the second half of 2010.