Le pouvoir de Madonna aide à Macy's.
Macy's cites Madonna lift as July sales soared 7.3%
By JAMES COVERT
Last Updated: 4:34 AM, August 6, 2010
Posted: 2:14 AM, August 6, 2010
Macy's delivered a July fireworks show for investors yesterday -- with a little help from Madonna.
The nation's biggest department store reported a better-than-expected 7.3-percent increase in July same-store sales, or sales at stores open at least a year.
While other retailers, including rival JC Penney, were singing the back-to-school blues with sluggish monthly sales reports, Macy's CEO Terry Lundgren said the season is "off to a great start."
Lundgren cited the "phenomenal launch" of the new "Material Girl" fashion line, designed by Madonna and her 13-year-old daughter, Lourdes. Aimed at teenage girls, the 1980s-inspired line will include clothing, shoes, handbags and jewelry.
On Tuesday, Macy's launched the collection at the company's flagship store on Herald Square with a performance by pop star Taylor Momsen, who drew throngs of girls dressed up like Madonna. Macy's shares yesterday rose 34 cents, or 1.8 percent, to $19.78.