Macy's September revenue up 2.5 percent
CINCINNATI (AP) — Macy's said Thursday that a key measure of revenue rose 2.5 percent in September, coming in short of analysts' predictions for a gain of 3.3 percent, according to Thomson Reuters.
Retailers measure sales at stores open at least a year to strip out the volatility of stores that opened or closed during the year.
Macy's said combined August-September sales rose 3.6 percent and "were consistent with our positive year-to-date trend," said Terry Lundgren, the company's chairman, president, and CEO.
Total sales rose 2.7 percent to $2.36 billion for the five weeks that ended Sept. 29.
The company, with corporate offices in both Cincinnati and New York, runs its namesake department stores as well as Bloomingdale's.
Macy's shares slipped 24 cents to $39.25 in premarket trading.