Jewelry Drives Macy's Sales Rise

RAPAPORT... Macy's sales increased in the fourth fiscal quarter, drivenby a solid performance in several divisions, including fine jewelry, thecompany said last week. Sales rose 1.8% year on year to $8.67 billion for the periodending February 3, while comparable-store sales - from branches open for atleast a year, including licensed stores - grew 1.4%. Total sales fell 3.7% to$24.84 billion for the full fiscal year, while comparable-store sales dropped 1.9%. The quarterly result was better than the retailer had expected,Macy's chief financial officer Karen Hoguet said in a conference call withanalysts, transcribedby Seeking Alpha. "Our strongest families of business were fragrances,dresses, fine jewelry, men's tailored clothing, coats, children's, shoes andhome textiles," she noted.