Macy’s Inc. sales beat expectations for the start of the year.
The Cincinnati-based retailer reported this morning that sales were up 4.2 percent in the first quarter, surprised some analysts.
The news is good for the Dayton Mall and Fairfield Commons, both of which count the department store as an anchor tenant. Macy’s improved sales is also a positive development in light of the recent bankruptcy of Elder-Beerman, another department store that had served as key shopping center tenant and retail employer.
Jeff Gennette, Macy’s chairman and chief executive, stated this morning that the first three months of the year reflect “continuing momentum.”
“We exceeded our expectations and saw strong performance across all three brands—Macy’s, Bloomingdale’s, and Bluemercury—as well as across all geographic regions and families of business,” he said.