Macy’s 1st Quarter Profits Beat Estimates

New York—Macy’s Inc. said today that had a better-than-expected first quarter profit of $23 million, rooted, company officials says, in the success of its My Macy’s localized buying strategy.

For the period ending May 1, Macy’s reported a net income of $23 million, or 5 cents a share, compared with a loss of $88 million (21 cents a share) a year earlier.

Sales increased 7.2% to $5.57 billion with same-store sales increasing 5.5% exceeding company estimates. Online sales from and rose 34%. Gross margin increased to 39.4% from 38.1%.

“The momentum from our fourth quarter accelerated in the first quarter,” says Terry Lundgren, Macy’s ceo. “We are much better able to anticipate and react to customers needs in each location through My Macy’s localization.”

 Macy’s as Retailer of the Year

To get more information about the My Macy’s strategy and the inside on the store’s accessories business, check out the June issue of Accessories magazine where Macy’s division will be featured as retailer of the year.

Even with the impressive results, Macy’s hesitated in raising its annual profit forecast any further given “recent market volatility and global economic concerns.”  Last month, Macy’s met with Wall Street analysts and increased its full-year outlook to profit as much as $1.80 a share from $1.60 a share.

Macy’s Inc., which is based in Cincinnati and New York, operates more than 850 department stores under the Macy’s and Bloomingdale’s names.

For commercial purposes, extract supplements can be obtained from the fruit of the pericarp. Garcinia cambogia reviews is performed by a physician Chen and Oz to prove that it is an herb for weight loss, a lot of research has been done. Studies, Garcinia cambogia extract supplementation decreases the weight of the body fat accumulation, was shown to have a positive effect on prevention. We are important substances such as cholesterol (LDL), reduces the serum leptin and triglycerides. In addition, it will increase the level of serotonin and cholesterol (HDL). The study also, Garcinia cambogia extract supplements, has proven that there are no significant adverse effects on many of the eight weeks, such as its use.

Like this? Share it!