ASAP fashion news archive - apparel industry news from before September 2005
This page is part of the ASAP fashion news archive on Apparel Search, which collected apparel, fashion and textile industry news from before September 2005. For current coverage, see the Apparel Search news page and the fashion blog.
From: ASAP
Federated Department Stores, Inc. (NYSE:FD)(PCX:FD) today reported total sales of $1.137 billion for the four weeks ended May 31, 2003. This represents a decrease of 1.2 percent from total sales of $1.150 billion for the same period last year. On a same-store basis, Federated's April sales were down 0.8 percent.
For the year to date, Federated's sales totaled $4.428 billion, down 3.8 percent from total sales of $4.603 billion in the same period last year. On a same-store basis, Federated's year-to-date sales were down 4.0 percent.
Terry J. Lundgren, Federated's president and chief executive officer, said the company's performance in May exceeded its expectations of minus 2 to minus 3 percent for the period.
Looking ahead, Federated expects same-store sales in June to be down minus 1 to minus 2 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 $15.4 billion. Federated 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.