Macys, Inc. saw total sales of $1.739 billion for the four weeks ended May 1, 2010, an increase of 2.8% compared with total sales of $1.691 billion in the four weeks ended May 2, 2009. On a same-store basis, Macys, Inc. sales were up 1.1% in April. This exceeds guidance for April sales to be about flat to last year.


As previously reported, an early Easter in 2010 shifted some sales into March and out of the April reporting period. For March-April combined, same-store sales were up 6.2% in 2010.


Our business has continued to perform well, with Bloomingdales and all eight Macys regions at or above expectations for sales in April and the first quarter, said Terry J. Lundgren, chairman, president and chief executive officer of Macys, Inc. Fresh new inventory, including private and exclusive brands, is being well received by customers in our stores and online. This, together with the continued positive results from My Macys localization, bodes well for our business in the months ahead.


For the first quarter, Macys, Inc.s sales totaled $5.578 billion, up 7.3% from total sales of $5.199 billion in the first 13 weeks of 2009. On a same-store basis, Macys, Inc.s first quarter sales were up 5.5%. This exceeds guidance for first quarter same-store sales to be up approximately 5%.


Online sales (macys.com and bloomingdales.com combined) were up 23.4% in April and 34.0% in the first quarter. Online sales positively affected the companys same-store sales by 0.9 percentage points in the first quarter. Online sales are included in the same-store sales calculation for Macy’s, Inc.


Based on better-than-expected April sales results, Macys, Inc. has increased its earnings guidance for the first quarter of 2010. The company currently expects first quarter earnings of 2 cents to 4 cents per diluted share. This compares with previous guidance, provided on April 27, for the quarter to be approximately break-even.


The company noted a calendar shift in which the week of Memorial Day falls into June this year versus May last year. This shift will depress sales in May and benefit sales in June.