Macy’s to Resume Monthly-Sales Reporting
Columbus, Ohio Macy’s Inc. plans to temporarily resume the posting of its monthly-sales data, a move that will keep shareholders abreast of company’s performance as it operates in the volatile economic landscape, effective Nov. 6, the company announced on Friday.
The company will begin reporting same-store sales starting this month, and will continue the practice until further notice.
“We want to provide investors as much information as possible,” said Terry Lundgren, Macy’s CEO, in a statement.
“While we continue to believe that sales on a monthly basis are an incomplete and sometimes misleading measure of a retailer’s performance, we will again provide this information so investors have a sense of the direction of our business on a more frequent basis through this uncertain time,” Lundgren added.