Macys, Inc. reported same-store sales dropped 2.7% in June. This
compares with the company's guidance for comps to be flat to down 2
percent in June. Given the softer sales, Macy's now expects second
quarter earnings to be in the range of 20 to 30 cents, compared to
previous guidance of 35 to 45 cents…
Total sales for June declined 1.9% to $2.32 billion from $2.366 billion in the same period last year.
For the year to date, Macys, Inc. sales totaled $10.216 billion, down
1.0 percent from total sales of $10.320 billion in the first 22 weeks
of 2006. On a same-store basis, Macys, Inc.s year-to-date sales also
were down 1.0 percent.
Macys, Inc. expects same-store sales in July to be flat to down 3 percent.
Macy's, Inc., with corporate offices in Cincinnati and New York,
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. The company also operates macys.com, bloomingdales.com
and Bloomingdale's By Mail. Prior to June 1, 2007, Macy's, Inc. was
known as Federated Department Stores, Inc.
