Macy's, Inc. reported total sales of $1.860 billion for the four weeks ended Feb. 25, 2012, an increase of 5.5 percent compared with total sales of $1.763 billion in the four weeks ended Feb. 26, 2011. On a same-store basis, Macy's, Inc. sales were up 4.6 percent in February 2012 as compared to February 2011.
Online sales (macys.com and bloomingdales.com combined) were up 31.3 percent in February 2012 as compared with February 2011. Online sales are included in the same-store sales calculation for Macy's, Inc.
“Our fiscal 2012 is off to a good start with February sales that exceeded our expectations,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc. “We saw good consumer response to our early spring deliveries in women's apparel, and continued strong trends in accessories, shoes, cosmetics, men's and home, which bodes well for the months ahead. Our assortments will be fresh and distinctive as we prepare for our spring initiatives, including the major promotion related to the fashions and cultures of Brazil, which launches in May.”
The company said same-store sales in its combined March-April period are expected to be up by approximately 3 percent to 3.5 percent. March same-store sales are planned to be stronger than April, given a calendar shift in which the pre-Easter period falls into March this year versus April last year.
On Feb. 27, 2012, Macy's, Inc. notified holders of its 8.0% Debentures due July 15, 2012 of the company's intent to redeem the debentures on March 29, 2012, three and one-half months ahead of schedule, as allowed under the terms of the Indenture. The price for the redemption will be based on the Treasury Rate plus 25 basis points as calculated pursuant to the Indenture on March 26, 2012. Proceeds from the company's January 2012 debt issuance will be used to pay for this redemption as well as to pay-off the 5.35% Senior Notes due March 15, 2012.
