Macy's Inc reported total sales of $2.274 billion for the five weeks ended Oct. 6, 2007, a decrease of 1.1 percent compared to total sales of $2.300 billion in the same period last year.
On a same-store basis, Macy's Inc. sales were down 2.7 percent in September. This is within the company's guidance for September same-store sales to be in the range of down 1 percent to 3 percent.
For the year to date, Macy's, Inc. sales totaled $15.873 billion, down 0.5 percent from total sales of $15.949 billion in the first 35 weeks of 2006. On a same-store basis, Macy's, Inc.'s year-to-date sales were down 0.9 percent.
"Consumers responded positively to the launch of our exclusive Martha Stewart Collection at Macy's in September," said Terry J. Lundgren, chairman, president and chief executive officer of Macy's Inc.
"Overall September sales were down, as expected, because of the comparison to a very strong Macy's nationwide brand launch in this month last year, which included the conversion of more than 400 former May Company stores to the Macy's nameplate, supported by intensive marketing and events at every location across the country."
"Sales trends this September were negatively impacted by unseasonably warm weather in the Northeast and Midwest."
Macy's Inc expects same-store sales in October in the range of down 1 percent to up 2 percent. The company continues to expect same-store sales in the range of down 1 percent to up 1 percent for the third quarter of 2007.
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