The Associated Press October 7, 2010, 8:33AM ET

Back-to-school season helps Macy's Sept. results

Macy's Inc.'s back-to-school season and strong results from private brands helped lift its revenue at stores open at least a year 4.8 percent in September.

The performance was better than the 3.3 percent rise that analysts polled by Thomson Reuters expected for the department store operator.

The figure is a key indicator of a retailer's health because it measures results at existing stores rather than newly opened ones.

Macy's said Thursday that its online sales, which includes results for macys.com and bloomingdales.com, climbed 29.3 percent in September. Online sales are included in the company's revenue at stores open at least a year.

Chairman, President and CEO Terry Lundgren said in a statement the chain continued to see strong results from private brands including American Rag and the debut of Material Girl, an exclusive juniors brand from Madonna.

For the five weeks ended Oct. 2, total sales rose 6.9 percent to $2.18 billion.

Year-to-date revenue at stores open at least year climbed 5 percent, with total sales up 7 percent to $14.93 billion.

Macy's runs about 850 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the Macy's and Bloomingdale's names. The company, which also has two Bloomingdale's outlet stores, has corporate offices in New York and Cincinnati.


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