May 14 Macy's Inc reported a 1.7 percent
decline in quarterly sales as a severe winter across parts of
the United States deterred shoppers from visiting its department
The company, which also owns the high-end Bloomingdale's
chain, said revenue fell to $6.28 billion in the first quarter
ended May 3 from $6.39 billion, a year earlier.
Comparable-store sales fell 1.6 percent in the quarter.
Net income rose to $224 million, or 60 cents per share, from
$217 million, or 55 cents per share.
Macy's also raised its dividend by 25 percent and said its
board had authorized a $1.5 billion increase in its share
(Reporting by Maria Ajit Thomas in Bangalore; Editing by Kirti