Macy’s Sees 11% Rise in July Comps

Macy’s, Inc. today reported total sales of $1.528 billion for the four weeks ended July 31, 2010, an increase of 11.0% compared with total sales of $1.376 billion in the four weeks ended Aug. 1, 2009. On a same-store basis, Macy’s, Inc. sales were up 7.3% in July.

“Our strong sales performance in July and the second quarter resulted from the continued evolution of our core Macy’s strategies, including My Macy’s localization and centralization of the organization. We also are benefiting from the continued strength at Bloomingdale’s, which will open its newest store tomorrow in Santa Monica, CA. We have planned for a successful back-to-school season and it is off to a great start with the phenomenal launch this week of Madonna's new Material Girl juniors brand, which will be sold exclusively at Macy’s,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc. “We also are launching our exclusive brand for young men, Slade Wilder, and the early response has been very strong.

“Our strategic integration of stores and online channels at Macy’s and Bloomingdale’s continues to produce encouraging results. In that regard, our Search & Send capability has now been rolled out to every Macy’s store nationally and is helping us to capture new sales opportunities in every location by accessing online inventories,” he said.

For the second quarter of 2010, the company’s total sales were $5.540 billion, an increase of 7.3% compared with total sales of $5.164 billion in the same 13-week period last year. On a same-store basis, Macy’s, Inc.’s second-quarter sales were up 4.9%.

For the year to date, Macy’s, Inc. sales totaled $11.114 billion, up 7.2% from total sales of $10.363 billion in the first 26 weeks of 2009. On a same-store basis, Macy’s, Inc.’s year-to-date sales were up 5.2%.

Online sales were up 22.4% in July, 28.1% in the second quarter and 31.0% in the first half of 2010. Online sales positively affected the company’s same-store sales by 0.5 percentage points in the second quarter and 0.8 percentage points in the year to date. Online sales are included in the same-store sales calculation for Macy's, Inc.