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Macy's June same-store sales down 2.7 percent

July 13, 2007

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Cincinnati—Same-store sales at Macy's Inc. decreased 2.7 percent for the five weeks ended July 7, in line with the company's guidance.

Total sales for the company dropped 1.9 percent to $2.32 billion for the period.

Year-to-date, Macy's sales total $10.2 billion, a 1 percent decrease from the same period in 2006. On a same-store basis, year-to-date sales also fell 1 percent.

Macy's expects same-store sales for July to remain flat to down 3 percent. As a result, the company expects second quarter earnings per diluted share, excluding merger integration costs, to be 20 cents to 30 cents, below the previous guidance of 35 cents to 40 cents.

Macy's, with corporate offices in Cincinnati and New York, saw sales of $27 billion in 2006. The company operates more than 850 department stores in 45 states, the Disctrict of Columbia, Guam and Puerto Rico, under the names Macy's and Bloomingdale's. It also owns Macys.com, Bloomingdales.com and Bloomingdale's By Mail. Prior to June 1, the company was known as Federated Department Stores Inc.
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