Macy’s Online Sales Jump 36%

Aug 09, 2012

Flagship’s remodeling will be suspended during Q4

Same-store sales at Macy’s Inc. are up 3 percent vs. last year, according to the department store operator’s quarterly earning report.

Sales in the second quarter totaled $6.118 billion, up 3 percent from total sales of $5.939 billion in the second quarter of 2011. On a same-store basis, Macy’s second quarter sales were up 3 percent in 2012 as compared to the second quarter of 2011.

Year to date, Macy’s sales totaled $12.261 billion, up 3.7 percent from total sales of $11.828 billion in the first 26 weeks of 2011. On a same-store basis, Macy’s first half sales were up 3.7 percent in 2012 as compared to the first half of 2011.
Online sales of and combined were up 36.1 percent in the second quarter and 34.8 percent in the first half of this year. (Online sales, which are included in the same-store sales calculation for Macy's, positively affected the company’s same-store sales by 1.7 percentage points in the second quarter and 1.6 percentage points in the year to date.)

Terry J. Lundgren, Macy’s Inc. chairman, president and CEO said the company is “entering the fall season with optimism about our ability to grow sales and capture market share.” The department store retailer has a “very strong brand-driven merchandise assortment for gift-giving and self-purchase this fall, as well as the creative and compelling marketing programs that will drive consumer interest and traffic in stores and online.”

Macy’s Herald Square began a major multi-year remodel in March. “In the fourth quarter, we will take a scheduled break in the multi-year Herald Square remodeling project so that customer shopping patterns are uninterrupted during the holiday season. We expect all of our first- and second-floor selling space at Herald Square to be fully reopened over the next 90 days,” Lundgren explained.

In the second quarter, the company opened two new Bloomingdale’s Outlet stores. In the first half, two new Macy’s stores also opened in the Milwaukee and Salt Lake City markets. In the second half of 2012, the Cincinnati-based company is opening three new Bloomingdale’s Outlet stores and closing a Macy’s store in Santa Ana, Calif.