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Press release from Business Wire

Macy's, Inc. Same-Store Sales Rise 7.3% in March

<p class='bwalignc'> <i><b>Company increases guidance, now expects same-store sales to be up 4.3 percent to 4.5 percent in the combined March-April period</b></i> </p>

Thursday, April 05, 2012

Macy's, Inc. Same-Store Sales Rise 7.3% in March08:00 EDT Thursday, April 05, 2012 CINCINNATI (Business Wire) -- Macy's, Inc. (NYSE:M) today reported total sales of $2.358 billion for the five weeks ended March 31, 2012, an increase of 6.9 percent compared with total sales of $2.206 billion in the five weeks ended April 2, 2011. On a same-store basis, Macy's, Inc. sales were up 7.3 percent in March 2012 as compared to March 2011. For the year to date, Macy's, Inc.'s sales totaled $4.218 billion, up 6.3 percent from total sales of $3.969 billion in the first nine weeks of 2011. On a same-store basis, Macy's, Inc.'s year-to-date sales were up 6.1 percent. Online sales in 2012 (macys.com and bloomingdales.com combined) were up 39.0 percent in March and 35.6 percent year-to-date compared to 2011. Online sales are included in the same-store sales calculation for Macy's, Inc. “March sales exceeded our expectations beyond the benefits we anticipated from an earlier Easter and a shift in a cosmetics event from April last year to March this year. Once again, our strength in performance was balanced across Macy's and Bloomingdale's, stores and online, geographies and families of business,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc. “The early warm weather drew attention to our outstanding assortments of fresh spring goods, which were received enthusiastically by customers.” Based on strong March results, the company said same-store sales in its combined March-April period, as well as in the first quarter as a whole, are expected to be up by 4.3 percent to 4.5 percent. This compares to previous guidance for combined March-April same store sales to rise by approximately 3 percent to 3.5 percent. The new guidance calculates to an expected same-store sales increase in the range of 1 percent to 1.3 percent in April. Sales in April are planned to be weaker than in March, given the calendar shift in which the pre-Easter period falls into March this year versus April last year, as well as the cosmetics event shift. Moreover, April sales are expected to be disadvantaged by a Mother's Day that is later in May this year. Macy's, Inc. will present at the Barclays Capital Retail and Restaurants Conference, scheduled for 9:30 a.m. ET on Wednesday, April 25, 2012, in New York City. Media and investors may access the live audio webcast of the presentation at www.macysinc.com/ir, beginning at approximately 9:30 a.m. ET on April 25. The webcast will also be available for replay. Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2011 sales of $26.4 billion. The company operates about 840 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's, as well as the macys.com and bloomingdales.com websites. The company also operates seven Bloomingdale's Outlet stores. All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy's management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, off-price and discount stores, manufacturers' outlets, the Internet, mail-order catalogs and television shopping and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission. (NOTE: Additional information on Macy's, Inc., including past news releases, is available at www.macysinc.com/pressroom). Macy?s, Inc.MediaJim Sluzewski, 513-579-7764orInvestorMatt Stautberg, 513-579-7780