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Macy’s Inc. Announces New Posts

BY CSA STAFF

Cincinnati Macy’s Inc. announced late Thursday that Daniel H. Edelman, currently president and COO of San Francisco-based Macy’s West, has been appointed to the new corporate-level position of president for international retail development.

Robert B. Harrison, previously president and COO of Macy’s Northwest in Seattle, will succeed Edelman as president and COO of the Macy’s West division. Both appointments, said Macy’s, are effective immediately.

Edelman will remain in San Francisco for his new role, which involves researching and analyzing opportunities for international expansion of the Macy’s and Bloomingdale’s brands.

Harrison will relocate to San Francisco as part of the Macy’s West senior management team.

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JCPenney improves April comps

BY CSA STAFF

PLANO, Texas JCPenney reported a comparable-store sales decrease of 1.7% for the four weeks ended May 3, 2008, compared to guidance for sales to decrease mid- to high-single digits and compared to a 3.4% decrease last year. According to the company, sales benefitted in the month from more favorable weather trends in some regions of the country that boosted seasonal apparel sales, and customer response to promotional and clearance activities.

Total company sales for the month were $1.33 billion compared with $1.32 billion last year. The top performing merchandise divisions during the month were in apparel and family footwear, while fine jewelry and home categories continued to experience weaker sales. Geographically, the best performing regions of the country were the Northeast and Central regions.

Management’s guidance for the four-week period ending May 31, is for a mid-single digit decrease in comparable store sales, compared to a 0.9% decrease in last year’s May period.

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Kohl’s reports strong April sales, raises outlook

BY CSA STAFF

MENOMONEE FALLS, Wis. Kohl’s reported that sales for the four-week period ended May 3, increased 12% to $1.3 billion from $1.1 billion last year. On a comparable-store basis, sales increased 3.5%.

Larry Montgomery, Kohls chairman and ceo, commented, We were encouraged by the improvement in our sales performance in April as business in seasonal categories improved. We will be conservative in our inventory planning and expense management as we continue to expect our customers to be cautious in their spending. 

As a result of Aprils performance, the company now expects earnings to exceed its previous guidance of 40 cents to 42 cents per diluted share.

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