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Federated Reports

From: ASAP

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Federated Department Stores, Inc. (NYSE:FD)(PCX:FD) today reported an increase of 0.9 percent in comparable-store sales for the four weeks ended December 1, 2001. Total November sales of $1.726 billion represent an increase of 0.6 percent over sales of $1.716 billion for the same period last year.

For the 43-week year to date, Federated's same-store sales were down 4.3 percent. Year-to-date sales totaled $13.055 billion, a decrease of 6.8 percent compared to sales of $14.008 billion for the same period last year.

James M. Zimmerman, Federated's chairman and chief executive officer, said the November comp-sales increase was consistent with the company's expectations. Because Thanksgiving fell a week earlier in the retail calendar this year, November comp sales were forecasted to be in the range of down 2 percent to up 1 percent. The company still expects December comp sales will be down 11-14 percent and the fourth quarter as a whole will be down 7-10 percent.

Federated, with corporate offices in Cincinnati and New York, is one of the nation's leading department store retailers, with annual sales of more than $18.4 billion. Federated currently operates more than 450 stores in 34 states, Puerto Rico and Guam under the names of Bloomingdale's, The Bon Marche, Burdines, Goldsmith's, Lazarus, Macy's and Rich's, as well as macys.com, bloomingdales.com, Bloomingdale's By Mail and Fingerhut.

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