OTHER NEWS - Aug. 6, 1991
From Times Staff and Wire Reports
Macy’s Same-Store Sales Rise: R. H. Macy & Co. said its same-store sales for the most recent quarter inched higher, reversing a yearlong string of declines. But the giant retailer said sales for the entire year fell 7% to $6.76 billion. Macy’s, which is privately held, said comparable-store sales for its final fiscal quarter ended Aug 3. totaled $1.633 billion, up from $1.629 billion a year earlier. Chairman Edward S. Finkelstein predicted in a statement that Macy’s comparable-store sales will post “gains north of 5% for the fall season” despite a sluggish economy. In Southern California, Macy’s owns the Bullock’s and I. Magnin chains of department stores.
