Macy's, Inc. (M) Reports Decline in July Same-Store Sales

Macy's, Inc. (NYSE: M) reported total sales of $1.602 billion for the four weeks ended Aug. 4, 2007, a decrease of 0.2% compared to total sales of $1.605 billion in the same period last year.

On a same-store basis, Macy's, Inc. sales were down 1.4% in July. This is within the company's guidance for same-store sales to be flat to down 3% in July.

For the 13-week second quarter of 2007, Macy's, Inc. sales totaled $5.894 billion, a decrease of 1.7% compared to total sales of $5.995 billion in the same period last year. On a same-store basis, Macy's, Inc. second quarter sales were down 2.6%. (Q2 revenue consensus is $5.9 billion)

Macy's, Inc. expects same-store sales in August to be in the range of down 1 percent to up 2 percent.

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