Macy’s, Inc. Same-Store Sales up 4.3% in August

CINCINNATI--(BUSINESS WIRE)--Macy’s, Inc. (NYSE:M) today reported total sales of $1.638 billion for the four weeks ended Aug. 28, 2010, an increase of 6.2 percent compared with total sales of $1.542 billion in the four weeks ended Aug. 29, 2009. On a same-store basis, Macy’s, Inc. sales were up 4.3 percent in August.

“While we continue to watch economic trends carefully, My Macy’s localization and our centralized organization are helping us to respond effectively to specific customer needs as they emerge.”

“Our back-to-school business through August has been strong, led by great performances by Material Girl, the exclusive juniors brand by Madonna, as well as American Rag, our largest private brand in juniors and young mens. We are particularly encouraged by the response from our customers to new fall fashion, which indicates that the consumer understands and appreciates the value, the quality and the uniqueness of our on-trend merchandise,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc. “While we continue to watch economic trends carefully, My Macy’s localization and our centralized organization are helping us to respond effectively to specific customer needs as they emerge.”

For the year to date, Macy’s, Inc. sales totaled $12.749 billion, up 7.1 percent from total sales of $11.905 billion in the first 30 weeks of 2009. On a same-store basis, Macy’s, Inc.’s year-to-date sales were up 5.0 percent.

Online sales (macys.com and bloomingdales.com combined) were up 22.2 percent in August and 29.8 percent year to date. Online sales are included in the same-store sales calculation for Macy's, Inc.

Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2009 sales of $23.5 billion. The company operates about 850 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's. The company also operates macys.com and bloomingdales.com, and two Bloomingdale’s outlet stores.

All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy’s management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates, changes in expected synergies, cost savings and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, manufacturers' outlets, off-price and discount stores, new and established forms of home shopping (including the Internet, mail-order catalogs and television) and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission.

(NOTE: Additional information on Macy’s, Inc., including past news releases, is available at www.macysinc.com/pressroom).