Macy's August same-store sales better than expected
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ATLANTA (Reuters) - Retailer Macy's Inc on Thursday reported a better-than-expected 2.4 percent rise in August sales at stores open at least one full fiscal year as it boosted promotions.Analysts, on average, expected flat same-store sales, according to Reuters Estimates. Macy's itself had forecast a range of down 1 percent to up 2 percent.For September, the retailer said same-store sales could fall 1 percent to 3 percent, adding that the year-earlier month included its nationwide Macy's brand launch.The company said it still expects same-store sales in the range of down 1 percent to up 1 percent for the third quarter.The parent of Macy's and Bloomingdale's has boosted promotions and advertising to help spur sales at hundreds of former May Department Stores it acquired in 2005 and converted to the Macy's name last year.The Cincinnati, Ohio-based retailer said total sales were $1.79 billion for the four weeks ended September 1, up 3.7 percent from the year-ago period.
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