(Reuters) - Macy’s Inc (M.N) reported better than expected May same-store sales on Wednesday, helped by its growing e-commerce business.
For the four weeks ended May 26, Macy’s same-store sales, which include online sales and sales at its department stores open at least a year, rose 4.2 percent, slightly above the 4 percent increase Wall Street analysts were projecting.
Online sales rose 42.3 percent. Total sales for the period were up 4.1 percent to $2.02 billion. Macy’s also owns the upscale Bloomingdale’s chain.
Reporting By Phil Wahba; Editing by Gerald E. McCormick