Macy's (M) Same-Store Sales Down 7.1% in January

Macy's, Inc. (NYSE: M) reported total sales of $1.275 billion for the four weeks ended Feb. 2, 2008, compared to total sales of $1.782 billion in the five weeks ended Feb. 3, 2007. The 28.4 percent decrease in total sales was primarily attributable to one fewer week in the January 2008 calendar versus January 2007. For the comparable four-week period (comparing the final four weeks of fiscal 2007 with the final four weeks of fiscal 2006), Macy's, Inc.'s same-store sales were down 7.1 percent in January. This is below guidance for January same-store sales to be down between 4 and 6 percent.

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