• May 11, 2011

Macy's sales rose 5.7% in the first quarter to $5.89 billion, compared with $5.57 billion in the same period last year. And net income soared to $131 million, from $23 million a year ago. On a comparable-store basis, sales grew 5.4% for the period, and online sales at macys.com and bloomingdales.com jumped a combined 38.3%. The Cincinnati-based company also doubled its dividend, "based on the strength, momentum and confidence in our business," Terry J. Lundgren, chairman/CEO, says in its release. He also says the chain is "developing and testing a wide range of new ideas and innovations that will allow us to evolve with our customers and continue to improve our performance."

As a result of its gain, the company is upping its forecast for the fiscal year to a 4.3% same-store sales gain.