Business

Macy’s Shows First-quarter Momentum

Macy’s, citing continued momentum in its business, reported net income of $131 million in the first quarter ended May 5 versus $77 million in the year ago period.
Total sales rose to $5.54 billion last quarter versus $5.35 billion in the 2017 quarter. Comparable sales were up 4.2 percent in the 2018 quarter.
“We exceeded our expectations and saw strong performance across all three brands — Macy’s, Bloomingdale’s, and Bluemercury — as well across all geographic regions and families of business,” said Jeff Gennette, Macy’s Inc. chairman and chief executive officer.

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