Macy’s, Inc. (M), one of the leading department store retailers in the United States , recently posted robust sales results for the five-week period ended April 3, 2010 benefiting from spring merchandise assortments and the shift in Easter holidays.
The company’s comparable-store sales for March 2010 jumped 10.8% as shoppers start loosening their purse strings. Year-to-date comparable-store sales climbed 7.6%.
Macy’s also hinted that an early Easter, which benefited March sales, will hurt April sales comparisons. The company expects comparable-store sales in April to remain flat, compared to the same month last year. For first-quarter 2010, the company now expects comparable-store sales to climb nearly 5%.
The company said that total sales for March surged 11% to $2,143 million from $1,931 million delivered in the same month last year. Year-to-date total sales rose 7.9% to $3,783 million from $3,508 million posted in the same period last year.
Online sales, which include macys.com and bloomingdales.com, sustained their growth momentum in March and jumped 40.4% for the month under review, and were up 39.3% year-to-date.
Macy’s department stores sell a wide range of merchandise. Macy’s products include men’s, women’s, and children’s apparel and accessories; cosmetics; home furnishings and other consumer goods.
The company is taking steps to increase sales, profitability and cash flow, which include integration of operations, consolidation of divisions and customer-centric localization initiatives. To help drive traffic Macy’s continues to focus on price optimization, inventory management and merchandise planning.
Macy’s currently operates nearly 850 department stores in 45 states, the District of Columbia, Guam and Puerto Rico.
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