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Federated Reports

From: ASAP
Remote Name: 216.57.26.250

Comments

Federated Department Stores, Inc. today reported total sales of $1.405 billion for the five weeks ended July 7, 2001. This is a decrease of 10.4 percent from total sales of $1.568 billion for the same period last year, in part reflecting the strategic downsizing of Fingerhut and the closing of the Stern's division. On a comp-store basis, Federated's June sales were down 6.4 percent.

For the 22-week year to date, Federated's sales totaled $6.467 billion, a decrease of 6.8 percent compared to sales of $6.936 billion for the first 22 weeks of last year. On a comp-store basis, Federated's year-to-date sales were down 3.0 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, Liberty House, Macy's and Rich's, as well as macys.com, bloomingdales.com and Bloomingdale's By Mail. Federated also operates the Fingerhut catalog and e-commerce subsidiary.

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