RAPAPORT... Macy’s sales increased in the fourth fiscal quarter, driven
by a solid performance in several divisions, including fine jewelry, the
company said last week.
Sales rose 1.8% year on year to $8.67 billion for the period
ending February 3, while comparable-store sales — from branches open for at
least a year, including licensed stores — grew 1.4%. Total sales fell 3.7% to
$24.84 billion for the full fiscal year, while comparable-store sales dropped 1.9%.
The quarterly result was better than the retailer had expected,
Macy’s chief financial officer Karen Hoguet said in a conference call with
analysts, transcribed
by Seeking Alpha.
“Our strongest families of business were fragrances,
dresses, fine jewelry, men’s tailored clothing, coats, children’s, shoes and
home textiles,” she noted.
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