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Macy’s 2Q Sales Drop 9.7%

(Filed Under Financial and General Interest News). For the second quarter ended August 1st, 2009, Macy’s, Inc. reported sales of $5.164 billion, a 9.7 percent drop from sales of $5.718 billion during last year’s second quarter.

On a same-store basis, the retailer’s sales dropped 9.5 percent. Online sales for and rose 9.4 percent. Macy’s reported that online sales positively affected its second quarter and first half of 2009 sales by 0.5 percent. The company opened no new stores during the second quarter, but opened two new stores in the beginning of the third quarter.

For the year to date, Macy’s sales totaled $10.363 billion, a 9.6 percent drop from sales of $11.465 during the first 26 weeks of 2008. On a same-store basis, the retailer’s year-to-date sales plunged 9.3 percent.

For the second half of fiscal 2009, the company projects that same-store sales will drop by 5 to 6 percent, resulting in full-year 2009 same-store sales being down by 7 to 7.5 percent.

Macy’s, Inc. currently operates corporate offices in Cincinnati, OH. and New York City, as well as approximately 840 department stores in 45 states, the District of Columbia, Puerto Rico and Guam under the Macy’s and Bloomingdale’s names. The company’s fiscal 2008 sales totaled at $24.9 billion.

more Financial and General Interest News >>

Published 08-12-2009 by Amanda Torres Price

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