In the quarter, the company opened a new Macy's in Houston. The company also will add FAO Schwarz toyshops in up to 275 Macy's stores in the fall.
"From time to time, there's been a rumor that we're going to close a large number of stores. I don't see that happening," said Karen M. Hoguet, executive vice president and CFO. "But as we do every year, we will close poor-performing stores. But I don't expect any extraordinary store closing announcement."
The bankruptcy of such chains as Mervyn's, Goody's and Boscov's will not mean a major boost to sales.
"It can't be bad for us, but we don't see a big opportunity coming from that," Hoguet said.
Sales in the second quarter totaled $5.7 billion, down 3% from the same period last year. Same-store sales declined 2.1%. Net income was $73 million, down from $74 million last year.
Macy's operates 850 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the Macy's and Bloomingdale's names.
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