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To: Think4Yourself who wrote (200756)	5/7/2009 9:06:52 AM
From: ChanceIs	Respond to of 306849

Macy's, Inc. Same-Store Sales Down 9.1% in April * On Thursday May 7, 2009, 8:00 am EDT >>>I have been short Macy's for un plus longtemps. My judgement is obviously very sound. I should think that I will get fried in another 25 minutes. Better cover. Can't fight the tape...or the FED. Chit.<<< CINCINNATI--(BUSINESS WIRE)--Macy’s, Inc. (NYSE:M - News) today reported total sales of $1.692 billion for the four weeks ended May 2, 2009, a decrease of 9.4 percent compared with total sales of $1.868 billion in the four weeks ended May 3, 2008. On a same-store basis, Macy’s, Inc. sales were down 9.1 percent in April. This is consistent with management’s expectations. For the 13-week first quarter and year to date, Macy’s, Inc.’s sales totaled $5.200 billion, down 9.5 percent from total sales of $5.747 billion in the first 13 weeks of 2008. On a same-store basis, Macy’s, Inc.’s first quarter sales were down 9.0 percent. Online sales (macys.com and bloomingdales.com combined) were up 14.5 percent in April and 16.2 percent for the first quarter of 2009 and positively affected the Company’s first quarter 2009 same-store sales by 0.5 percentage points. Online sales are included in the same-store sales calculation for Macy's, Inc. Macy’s, Inc. said it expects a first quarter net loss of 19 cents to 21 cents per diluted share, excluding restructuring-related costs. This is better than the company's expectations and current Wall Street estimates. Given the continued uncertainty in the macro-economic environment, management believes it is prudent to maintain its annual guidance for fiscal 2009 at the current level of 40 cents to 55 cents per diluted share, excluding restructuring-related costs. The company expects it will exceed this guidance if the economy improves in the second half of the year. Macy’s, Inc. is slated to report its first quarter earnings on Wednesday, May 13, and will webcast a call with financial analysts and investors that day at 10:30 a.m. (ET). Macy’s, Inc.’s webcast is accessible to the media and general public via the company's Web site at www.macysinc.com. Analysts and investors may call in on 1-877-704-5382, passcode 2006146. A replay of the conference call can be accessed on the Web site or by calling 1-888-203-1112 (same passcode) about two hours after the conclusion of the call. Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2008 sales of $24.9 billion. The company operates more than 840 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's. The company also operates macys.com and bloomingdales.com. Prior to June 1, 2007, Macy's, Inc. was known as Federated Department Stores, Inc. All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy’s management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates, changes in expected synergies, cost savings and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, manufacturers' outlets, off-price and discount stores, new and established forms of home shopping (including the Internet, mail-order catalogs and television) and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission.

To: Think4Yourself who wrote (200756)	5/7/2009 11:25:31 AM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 306849

>>Try finding a "Made in USA" tag on merchandise in WalMart, Target, or Kohls. It's not easy.<< This is the primary reason why declining inventories will not help the US economy that much. Yes, orders will increase to restock them......in China. Does make a case for a more durable recovery starting there, but they have other issues.....mainly in their financial sector and CRE.

To: Think4Yourself who wrote (200756)	5/7/2009 11:54:11 AM
From: ajtj99	Read Replies (3) \| Respond to of 306849

You know, you should think before you post. When a product is sold in Walmart, there is a ton of the final retail cost that remains in the USA. For example, a Barbie made in China may retail for $15 at Walmart, and they may make $5.00 profit at retail on that item. The Mattell company likely sold it to Walmart for $10, and Mattell's purchase price from the Chinese factory may be around $4.00. Shipping, duty, and other fees may add $1.00 to the cost, making the cost to Mattell $5.00. The factory that sold the Barbie for $4.00 needed raw materials, which were mostly imported. Let's say there's $0.50 in raw materials, much of it polymers made from imported oil, although some of the cardboard comes from the USA. In this example, $11.50 of the retail cost remains in the USA, $3.50 goes to China, and $0.50 goes elsewhere. If you want to back out the overseas shipping, at least $11.00 of the retail price of the Barbie remains in the USA. Had the Barbie been made in the USA, the retail cost would likely be double, and the sales would likely be 75% lower. Making the product here does not increase the overall cash generated by that product. Jobs assembling Barbies in the US would pay close to minimum wage, not automaker wages. Furthermore, buying the dolls from China allows more families and children to afford more Barbies. Intrinsic value from more Barbies isn't even figured in here. The import formula is much more favorable to the US on other items, but let's stay with this example. There is also marketing support by Mattell and Walmart that multiplies through the system. Design and engineering also stays here. Jobs are created in management, sales, marketing, and distribution here, and those jobs pay far more in aggregate than the entire payroll of the companies making the dolls. I used the Barbie example because I thought it was something you could relate easily to, but this applies to other items as well. China actually has a trade deficit with almost every other part of the world other than the US. It has huge deficits with other Asian countries. There are many items that are "made in China" that literally only have 5% of their value produced in China. The rest goes elsewhere.

To: Think4Yourself who wrote (200756)	5/7/2009 3:40:45 PM
From: Nancy	Read Replies (1) \| Respond to of 306849

<<CNBC's Pisani hyping retail sales, on the month with tax refunds and extra money from the government. Only the low end retail (made in China) stores did well, but let's not look at that.>> How long ago have you shopped at Macy's, (not a high-end by no means, but a middle-class price range store), or the higher-end stores such as Nordstrom, Bloomie and Neiman's? Look at the labels of their clothing / shoes / households / luggages etc items, you would have a hard time to find the Made in USA labels. If they are not made in China, lots of them are made in SE Asia, India, Bangladash, Eastern Europe, South America, whathave you. Keep the merchandising costs low and sell much more - the net results are still more final dollars remain in this country, to be spent in other things such as restaurants, travels, and any other consumer spendings you may have.

To: Think4Yourself who wrote (200756)	5/7/2009 4:05:03 PM
From: Perspective	Respond to of 306849

<CNBC's Pisani hyping retail sales, on the month with tax refunds and extra money from the government.> All I need to know about consumer behavior is right here: Consumer credit falls at fastest pace in 18 years finance.yahoo.com Consumer credit falls at fastest pace in 18 years Consumer borrowing falls in March at fastest pace in over 18 years, Americans saving more * Martin Crutsinger, AP Economics Writer * On Thursday May 7, 2009, 3:49 pm EDT WASHINGTON (AP) -- Consumer borrowing plunged in March at the fastest pace in 18 years as Americans put away their credit cards and hoarded cash amid the worst recession in decades. The Federal Reserve said Thursday that consumer borrowing dropped 5.2 percent in March, the biggest decline since an 8.1 percent fall in December 1990. In dollar terms, consumer borrowing plunged by $11.1 billion. That's the largest dollar amount on records dating to 1943, and more than three times the $3.5 billion drop that economists expected. The borrowing category that includes credit cards dropped 6.8 percent in March after a 12.1 percent plunge in February. The category that includes auto loans fell 4.2 percent after rising by 1.2 percent in February. The Commerce Department last week said that the personal savings rate edged up to 4.2 percent in March, marking the first time in a decade that the savings rate has been above 4 percent for three straight months. Households have been spending less and saving more as they seek to replenish nest eggs in the face of massive job layoffs. Consumer spending, which accounts for about 70 percent of total economic activity, fell 0.2 percent in March, ending an otherwise strong quarter. Consumer spending grew at an annualized rate of 2.2 percent in the first quarter, according to government data. And while economists believe shoppers are still cautious, many retailers on Thursday reported April sales results that beat expectations. Wal-Mart Stores Inc., T.J. Maxx owner TJX Cos. Inc. and others reported bigger sales gains than expected, and mall-based clothing stores including Gap, American Eagle and Wet Seal reported smaller dips than analysts had forecast. Still, the overall economy was contracting at an annual rate of 6.1 percent in the first three months of this year following a 6.3 percent fall in the final three months of last year. That marked the worst six-month performance in a half-century. Economists are counting on President Barack Obama's $787 billion stimulus program with increased government spending and tax cuts for individuals and businesses to boost growth in coming months and get the country out of the recession. Many analysts believe the economy is declining in the current quarter by around 3 percent, and could turn slightly positive in the third quarter. The $11.1 billion drop in consumer borrowing in March left total consumer credit at $2.55 trillion. The Federal Reserve's measure of consumer credit does not include home mortgages or other loans secured by real estate. `BC