• May 15, 2013

Macy’s says its first-quarter sales rose 4% to $6.39 billion, while net income climbed 28% to  $217 million.  Comparable-store sales grew by 3.8% for the quarter. The Cincinnati-based retailer also said that it now expects a total sales increase of 3.8% for the full year.  “Based on the effectiveness of strategies we have in place, we are confident that momentum will continue going forward,” says Terry J. Lundgren, Macy’s chairman, president and chief executive officer, in its release. He says the results are especially encouraging given the challenges of the quarter, including “sustained, unseasonably cool spring weather,” and spending weaknesses in both its most budget-conscious Macy’s shoppers, as well as higher-end Bloomingdale’s customers.