CINCINNATI-Macy’s Inc. reported a net income of $145 million in the third quarter ended Oct. 27, a 4 percent increase over the prior-year period. Sales were $6.075 billion, up 3.8 percent. Online sales at macys.com and bloomingdales.com were up 40 percent in the quarter, the company said.
“We were pleased to deliver sales and earnings growth for the eleventh consecutive quarter,” said Terry J. Lundgren, chairman, president and CEO. “Our success in the third quarter reflected a combination of factors, as has been the case over the past several years. We continue to implement our My Macy’s localization, omnichannel integration and enhanced customer engagement strategies with increasing precision, passion and success. This has helped us to deepen our relationship with customers and capture market share.
“We have confidence in our ability to continue to grow sales and earnings in the fourth quarter, even taking into account a recovery from Hurricane Sandy that will cause stress to consumers and our employees in the Northeast and Mid-Atlantic regions,” Lundgren said.
Macy’s, Inc. also announced today that it will discontinue reporting monthly sales, beginning in fiscal 2013, “consistent with the practice of most other retailers.” Sales will continue to be reported quarterly, along with earnings and cash flow.