In its second-largest acquisition, Amazon buys the company for $970 million.
Web sales in June increased year over year 37.6% and are up year-to-date 32.5%.
Web sales continue to set a steady pace for Macy’s Inc. so far this year.
For the five weeks ended July 3, Macy’s, No. 20 in the Internet Retailer Top 500, reported:
- Web sales in June increased year over year 37.6% and are up year to date 32.5%. The company didn’t break out dollar sales figures.
- Total sales increased 8.8% to $2.22 billion from $2.04 billion. Year-to-date sales are up 6.7% to $9.58 billion from $8.98 billion for the period of January through June in 2009.
- Comparable-store sales were up 6.7% and 4.9%, respectively, for June and year-to-date.
“We remain on track in our drive for sales and market share growth, improved earnings and strong cash flow," says Macy’s CEO Terry J. Lundgren.
Macy’s also will be launching an online space for teens on Aug. 12, the retailer says. The site, Macys.com/mystylelab, site will provide content and interactive features for teens.
In addition to fashion videos, the online space will offer "word on the street" content featuring Seventeen magazine editor-in-chief Anne Shoket. Teens also will be able to post images of themselves and view styles that others are wearing around the country, the company says.