Federated Department Stores, Inc. (NYSE:FD)(PCX:FD) reported total sales of $1.359 billion for the five weeks ended April 2, 2005, an increase of 3.4 percent compared to total sales of $1.314 billion in the same period last year. On a same-store basis, Federated's March sales also were up 3.4 percent.
For the year to date, Federated's sales totaled $2.444 billion, up 2.5 percent from total sales of $2.384 billion in the first nine weeks of 2004. On a same-store basis, Federated's year-to-date sales were up 2.6 percent.
Because of an earlier Easter this year, Federated indicated last month that it anticipated a March same-store sales increase of about 2.5 percent, followed by a relatively flat April. The company said today that it is maintaining its April forecast.
Federated, with corporate offices in Cincinnati and New York, is one of the nation's leading department store retailers, with fiscal 2004 sales of more than $15.6 billion. Federated operates more than 450 stores in 34 states, Guam and Puerto Rico under the names of Macy's and Bloomingdale's. The company also operates macys.com and Bloomingdale's By Mail.
This release contains certain forward-looking statements that reflect current views of the financial performance and other events of Federated. The words "may," "will," "could," "expect," "plan," "anticipate," "believe" and other similar expressions identify forward-looking statements. Any such forward-looking statements are subject to risks and uncertainties. Future results or outcomes could differ materially from current expectations because of a variety of factors that affect the company, including 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 SEC.
Posted April 2005 ASAP Fashion News Fast - Fashion news for the apparel industry and consumers to learn more about the clothing business.
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