August figure up 2.4%, but drop expected for September
US department store chain Macy’s reported sales up by 3.7 per cent to US$1.8 billion (£891.2 million) for the four weeks to September 1, but is cautious about the short-term outlook for sales.
Macy’s like-for-like sales rose 2.4 per cent in August, which was higher than its guidance for same-store sales of between 1 per cent and 2 per cent.
However, Macy’s expects like-for-like sales to be down by between 1 per cent and 2 per cent in September. For the year to date, the department store’s sales are down 0.3 per cent on the first 30 weeks of 2006. Macy’s operates more than 850 department stores in 45 US states, as well as in Guam and Puerto Rico, under the Macy’s and Bloomingdale’s name.