Macy's Inc said on Friday that it will temporarily reinstate monthly reports of its sales to keep investors updated, as a global market meltdown raises new concerns for the retail business.
The parent of Macy's and Bloomingdale's said it will report October sales at stores open at least a year on Nov. 6, and will continue to report monthly sales until further notice.
"We want to provide investors as much information and transparency as possible," Macy's Chairman and Chief Executive Terry Lundgren said in a statement.
In February, Macy's said it would stop reporting monthly same-store sales, an important measure of retail performance. At the time, the retailer said monthly sales cause undue confusion because of calendar and promotional shifts.