Macy's (M) Same-Store Sales Down 13.3% in November

Macy's, Inc. (NYSE: M) reported same-store basis, Macy's, Inc. sales were down 13.3% in November, consistent with previous guidance that anticipated the negative impact of a significant shift in the retail calendar coupled with the weak economic environment.

"November ended with a strong Thanksgiving weekend, including the largest Black Friday in the history of our company," said Terry J. Lundgren, Macy's, Inc. chairman, president and chief executive officer. "We are cautiously optimistic that our combination of unique assortments, great brands and sharp values will attract customers through the balance of the holiday shopping season as they did over Black Friday weekend. These are extraordinary times and I am proud of how our outstanding organization is responding to the challenge."

Sign up at EasyStockAlerts.com To Be Alerted To Your Stock News!
Macy's reiterated its guidance for same-store sales in the fourth quarter (the months of November through January) to be down by 1 to 6 percent.

Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2007 sales of $26.3 billion.

You May Also Be Interested In

• Getty Realty discloses separation terms for departing accounting officer
• Macy’s Kicks Off the 100-Day Countdown to the 100th Macy’s Thanksgiving Day Parade®
• Virtus Investment Partners names Jack Boyce to its board