From: ASAP
Federated Department Stores, Inc. reported a decrease of 8.8 percent in same-store sales for the four weeks of January that ended February 2, 2002.
Total January sales were $827 million this year and $1.108 billion in the January period last year, which contained an extra week in the retail calendar.
For the 13-week fourth quarter this year, Federated's same-store sales were down 6.0 percent. Total fourth quarter sales were $5.563 billion this year and $6.115 billion in the 14 weeks of the fourth quarter last year.
For the 52-week year, Federated's 2001 same-store sales were down 5.3 percent. Annual sales totaled $16.892 billion this year and $18.407 billion for the 53 weeks of fiscal 2000, in part reflecting the extra week in the retail calendar last year, and the closing of Stern's and the downsizing of Fingerhut this year.
Federated, with corporate offices in Cincinnati and New York, is one of the nation's leading department store retailers, operating more than 450 stores in 34 states, Puerto Rico and Guam under the names of Bloomingdale's, The Bon Marche, Burdines, Goldsmith's, Lazarus, Macy's and Rich's, as well as macys.com, Bloomingdale's By Mail and Fingerhut.
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