Macy’s reported a better-than-expected rise in February same-store sales Thursday, and the department-store operator said sales would have been even stronger if it werent for the winter storms that rocked the East Coast.
Macy’s said its comparable sales climbed 3.7% last month, easily beating analyst estimates for a rise of just 1.4%. Overall sales at Macy’s jumped 4% to $1.64 billion.
Online sales at Macys.com and Bloomingdales.com combined surged 38% during the month.
“Sales performance was strong at both Macy’s and Bloomingdale’s in February, despite a series of winter storms that affected store operations in some of our largest markets during key selling periods of the month,” CEO Terry Lundgren said in a statement.
Macy’s estimated sales would have been up 5% if not for the storms.
“We are well prepared to maintain the momentum with exciting and fresh merchandise for the spring season,” Lundgren said.
