08.08.12
Macy’s Inc.'snet income rose nearly 16% to $279 million, while sales in the second quarter rose 3% on a comparable store basis to $6.12 billion.
“We were pleased with our spring season results, and they came on top of exceptionally strong spring season performances in each of the past two years. This indicates that our business continues to have forward momentum, even with challenges that include a soft economy, lower spending by international tourists, and temporary disruptions associated with the major remodeling of our Herald Square flagship store in New York City which was initiated in March,” said Terry J. Lundgren, Macy’s chairman, president and chief executive officer. “In response to these challenges, we have stayed very firmly focused on driving profitable sales growth while running the business with discipline to maintain margins and manage expenses.
Lundgren also said the company is entering the fall season with optimism and that there will be a scheduled break in the multi-year Herald Square remodeling project so customer shopping patterns are uninterrupted during the holiday season.
"We expect all of our first-and second-floor selling space at Herald Square to be fully reopened over the next 90 days, including the world’s largest women’s shoe department, which opens partially this month and will continue in stages in the months ahead,” Lundgren said.
“We were pleased with our spring season results, and they came on top of exceptionally strong spring season performances in each of the past two years. This indicates that our business continues to have forward momentum, even with challenges that include a soft economy, lower spending by international tourists, and temporary disruptions associated with the major remodeling of our Herald Square flagship store in New York City which was initiated in March,” said Terry J. Lundgren, Macy’s chairman, president and chief executive officer. “In response to these challenges, we have stayed very firmly focused on driving profitable sales growth while running the business with discipline to maintain margins and manage expenses.
Lundgren also said the company is entering the fall season with optimism and that there will be a scheduled break in the multi-year Herald Square remodeling project so customer shopping patterns are uninterrupted during the holiday season.
"We expect all of our first-and second-floor selling space at Herald Square to be fully reopened over the next 90 days, including the world’s largest women’s shoe department, which opens partially this month and will continue in stages in the months ahead,” Lundgren said.