Macy

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percent drop in same-store salese in April, compared to analysts' projections of minua 7.5 percent, and upgraded its first-quarter profiy outlook. The Cincinnati-based department store chain M) said it expects a net loss in the fiscal quartee of 19 cents to 21 cents perdiluteds share. That beats it own previousx expectations and those of analysts polled byThomsomn Reuters, who had projected a loss of 27 cents. The merchant will report its first-quarter earnings May 13. like most retailers, has been vying for shopperes who have been pulling back on discretionary spending duringt a time of massivejob losses.
The retailer said third-quarter sales at storess open at least a year declinec by9 percent. Total Apriol sales declined to $1.7 billion from almosft $1.9 billion a year ago, or 9.4 For the quarter, saleas fell 9.5 percent, to $5.2 billionb from $5.7 billion. Analysts projected quarterly salessof $5.24 billion. Despite soft demanc for appareland housewares, Macy’sz continues to be encouraged by results from its “My pilot program, launched one year ago, said spokesmah Jim Sluzewski. The program is designed to customize merchandisde ona store-by-store basis and was launchefd primarily in the Midwest, including in Cincinnati. “The stronge areas were the Midwest and he said.
“The weaker areas includ e New York andthe Northeast.” He said stronv merchandise categories included moderate sportswear for both men and dresses, women’s suits and cosmetics. Weaker categories included handbagsand big-ticket items, such as furniture. “Private label is performing very especially inthe women’s categories,” Sluzewski said. (NYSE: for instance, posted a better-than-expected same-store sales gain of 5 not includingfuel sales, whilw analysts expected it to deliver 2.9 percent. Other department storde chains were amixed bag. Dillard’s Inc. (NYSE: DDS) reported a 5 percent decrease, while analysts expectefd a dropof 9.
2 (NYSE: SKS) said sales fell 32 percent, below the 30.5 percenyt projections. And (NYSE: JWN) said its salesa slipped by 10.8 percent. (NYSE: TGT) said its same-storee sales rose 0.3 percent, just shy of Net retail sales for the four weekxs ended May 2were $4.45 up 4.5 percent from the comparable perioe last year. • GPS) said its same-store sales dipped by 4 percent, beatinbg expectations of a 7.8 percenf fall. • Costco Wholesale Corp.'s comparable-store sales at stores open a year or more fell 8 percengt last month compared with ayear earlier, the companyu said. April net sales at Costc fell 6 percentto $5.18 billionh from $5.54 billion. • Nordstrom Inc.
reportedd April sales fell by more than 6 percentto $561 million from $600 million a year Same-store sales at stores open a year or more fell 10.8 percentr compared with April 2008.