Macy’s posts 3.7 percent rise in February sales figure, would have gone higher without storms

Macy’s key sales figure rises 3.7 pct in Feb.

CINCINNATI — Macy’s Inc. said a key sales figure rose past Wall Street expectations in February and would have been even higher if shoppers hadn’t been disrupted by winter storms.

The department store operator said Thursday that sales in stores open at least a year rose 3.7 percent last month, above the 1.4 percent analysts estimated, according to Thomson Reuters.

The figure is considered important for retailers because it measures growth at existing stores, rather than new ones.

Overall for the four weeks ending Feb. 27, total sales rose 4 percent to $1.64 billion.

CEO Terry J. Lundgren said sales at stores open at least a year would have risen about 5 percent if they hadn’t been disrupted by a series of winter storms in key markets.

Online sales rose 38 percent in the quarter.

(This version CORRECTS the period ending date in the fourth paragraph to Feb. 27.)