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Federated Sales of 3.6 percent increase July 2004

From: ASAP


Federated Department Stores, Inc. (NYSE:FD) (PCX:FD) reported total sales of $998 million for the four weeks ended July 31, 2004, an increase in total sales of 3.6 percent compared to total sales of $962 million in the same period last year. On a same-store basis, Federated's July sales were up 3.7 percent, within the 3-5 percent range that had been anticipated.

For the 13-week second quarter of 2004, Federated reported total sales of $3.550 billion, up 3.4 percent over sales of $3.434 billion in the same period last year. On a same-store basis, Federated's second quarter sales were up 3.3 percent.

For the year to date, Federated's sales totaled $7.066 billion, up 5.1 percent from total sales of $6.725 billion in the first 26 weeks of 2003. On a same-store basis, Federated's year-to-date sales were up 5.0 percent.

The company is reaffirming its same-store sales guidance of up 1.5 to 3 percent for the fall season, with sales in both the third and fourth quarters expected to be in that range. For August, the company anticipates relatively flat sales compared with last year, reflecting a Labor Day that falls later in the calendar this year.

Federated is slated to report its second quarter earnings on Wednesday, August 11th.

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 $15.2 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.

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.

August 2004

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