Macy's April revenue figure rises 10.8 percent

CINCINNATI - Macy's Inc. said Thursday a key revenue figure rose 10.8 percent for April, a better result than analysts were expecting, as shoppers picked up new spring attire. Analysts expected the figure — revenue in stores open at least a year — to rise 8.1 percent, according to Thomson Reuters. Macy's had forecast an increase of 8 percent to 9 percent. The figure is an important indicator of retailers' long-term health because it excludes stores that recently opened or closed. Total sales for the four weeks that ended April 30 rose 10.9 percent to $1.92 billion. A later