Macy's, Inc. (M) Reports Decrease in May Same-Store Sales

Macy's, Inc. (NYSE: M) reported total sales of $1.976 billion for the four weeks ended June 2, 2007, a decrease of 2.3% compared to total sales of $2.024 billion in the same period last year. On a same-store basis, Macy's, Inc. sales were down 3.3% in May. This compares with the company's guidance for same-store sales to be flat to down 2% in May, reflecting the shift of a promotional event from May last year into April this year.

"While we were disappointed with sales in the month of May, the increased promotional marketing support currently being implemented for the Macy's brand is expected to improve sales trends in June and July," said Terry J. Lundgren, Macy's, Inc. chairman, president and chief executive officer.

Macy's, Inc. expects same-store sales in June to be flat to down 2%.

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