Macy's (M) Holiday 2014 Comps Rose 2.7%

Macy's (NYSE: M) announced that its comparable sales on an owned plus licensed basis rose by 2.7 percent in the months of November and December 2014 combined, compared with the same period last year. This tracks within the company’s guidance, provided on Nov. 12, 2014, for a comparable sales increase of 2 percent to 3 percent on an owned plus licensed basis in the full fourth quarter of 2014.

On an owned basis, comparable sales rose by 2.1 percent in the combined November/December period, consistent with the company’s guidance for an increase of 1.8 percent to 2.8 percent in the full fourth quarter.

(Editor’s Note: Macy’s, Inc. this afternoon also issued a separate news release outlining the evolution of the company’s business model and reinvestment for continued growth.)

“We feel very good about our performance in the November/December period as we reversed trend from a soft third quarter and set the stage for continued progress going forward. Our success was rooted in the ability of our exceptional team to thoroughly execute our M.O.M. strategies (My Macy’s localization, Omnichannel integration and Magic Selling customer engagement), and our passion for delivering the right combination of fashion, freshness, value and service to our customers,” said Terry J. Lundgren, Macy’s, Inc. chairman and chief executive officer. “Our digital strategies represent an increasingly important driver of the business. Macy’s and Bloomingdale’s websites, apps and fulfillment systems performed exceptionally well in the holiday season. Moreover, we are pleased with the convenience and customer access provided by the full companywide rollout of Buy Online Pickup in Store, as well as the initial positive results from our pilot of Same Day Delivery in eight selected markets. These innovations demonstrated the power of the stores working in collaboration with online and mobile to satisfy customer demand no matter how the customer is shopping.”

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