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Online sales give Macy's a big boost in Q1
CINCINNATI — Macy's Inc. reported a significant increase in sales for the first quarter, thanks to a strong performance in its online business. The company reported that total sales for the quarter increased 4.3% to $6.1 billion. Online sales for the quarter increased 33.7% and contributed 1.5 percentage points to the company's same-store sales increase of 4.4% for the period.
Macy's Inc. reported an earnings increase of 43% to 43 cents per diluted share, compared with 30 cents per diluted share in the same period last year.