Macy's Inc. posts strong Nov. results

CINCINNATI Macy's Inc. today reported a strong November, with total sales for the period increasing 13.9% to $2.7 billion from $2.4 billion last year, and same-store sales rising 13.4%.

"Our business in November was strong as customers responded positively to the holiday season offering at Macy's and Bloomingdale's. Sales also benefited from cold weather throughout many parts of the country during much of the November period, as well as a calendar shift that resulted in an additional week after Thanksgiving falling in the month of November this year compared to December last year," said Terry Lundgren, Macy's Inc. chairman, president and ceo. 

For the year to date, the company reported that sales totaled $20.4 billion, up 1.2% from total sales of $20.2 billion in the first 43 weeks of 2006. On a same-store basis, Macy's Inc.'s year-to-date sales were up 0.7%.

The company expects December same-store sales to be down by 4% to 7% compared with last year. Macy's Inc. continues to expect that same-store sales for the fourth quarter as a whole to be in the range of down 2% to up 1%.