Federated Department Stores, Inc. (NYSE:FD) (PCX:FD) today reported total sales of $2.834 billion for the five weeks ended January 1, 2005, an increase of 1.9 percent over total sales of $2.781 billion in the same period last year. On a same-store basis, Federated's December sales were up 2.3 percent.
For the year to date, Federated's sales totaled $14.823 billion, up 2.6 percent from total sales of $14.451 billion in the first 48 weeks of fiscal 2003. On a same-store basis, Federated's year-to-date sales were up 2.7 percent.
Terry J. Lundgren, Federated's chairman, president and chief executive officer, said the company was pleased with its December sales performance, which was within the forecasted range of a 1 to 3 percent same-store sales increase in the period.
The company said it anticipates January same-store sales that are in the range of up 1 percent to down 1 percent, with fourth quarter same-store sales that are up 0.5 to 1.0 percent. Federated also reaffirmed its earnings guidance of $2.45 to $2.55 a share for the fourth quarter, which ends January 29, 2005.
Federated, with corporate offices in Cincinnati and New York, is one of the nation's leading department store retailers, with fiscal 2003 sales of more than $15.2 billion. Federated operates more than 450 stores in 34 states, Guam and Puerto Rico under the names of Macy's, Bloomingdale's, Bon-Macy's, Burdines-Macy's, Goldsmith's-Macy's, Lazarus-Macy's and Rich's-Macy's. The company also operates macys.com and Bloomingdale's By Mail. www.fds.com
NOTE: 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.
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