Department stores chain Macy's, Inc. (M) on Thursday reported that its same store sales for the month of February increased 4.6 percent. Total sales for the four weeks ended February 25 was $1.86 billion, an increase of 5.5 percent from prior year's $1.76 billion. Online sales were up 31.3 percent in February.
Terry Lundgren, chairman, president and chief executive officer of Macy's, said, "Our fiscal 2012 is off to a good start with February sales that exceeded our expectations."
During the period, the company experienced good consumer response to 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.
Looking ahead, the company said that same-store sales in its combined March-April period would 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.
by RTT Staff Writer
For comments and feedback: email@example.com