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Federated  April 2003 Sales

From: ASAP

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Federated Department Stores, Inc. (NYSE:FD)(PCX:FD) today reported total sales of $1.076 billion for the four weeks ended May 3, 2003. This represents a decrease of 1.7 percent from total sales of $1.096 billion for the same period last year. On a same-store basis, Federated's April sales were down 1.4 percent.

For the first quarter and year to date, Federated's sales totaled $3.292 billion, down 4.6 percent from total sales of $3.453 billion in the same period last year. On a same-store basis, Federated's year-to-date sales were down 5.0 percent.

Federated expects same-store sales in May to be down minus 1 to minus 3 percent. The company is discontinuing weekly sales updates, but additional information on Federated is available at www.fds.com.

Federated today also reaffirmed its first quarter earnings guidance of 14-19 cents a share. The company reports its first quarter earnings on May 14.

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 $15.4 billion. Federated currently operates approximately 450 stores in 34 states, Guam and Puerto Rico, under the names of Macy's, Bloomingdale's, The Bon Marche, Burdines, Goldsmith's, Lazarus and Rich's-Macy's. The company also operates macys.com and Bloomingdale's By Mail.

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