Industry customer Macy’s described first quarter sales as soft but said trends improved as the weather warmed up in April in the Northern regions of the country.
The company reported earnings this morning.
First quarter sales declined 1.7% to $6.3 billion. Same-store sales fell 1.6%.
Net income rose 3.2% to $224 million.
Despite the slow start to the year, Macy’s reaffirmed its guidance of 2.5% to 3% growth in same-store sales in 2014. Earnings per share are expected to range from $4.40 to $4.50.
Macy’s operates 840 stores.
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