From: ASAP
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Federated Department Stores, Inc. today reported total sales of $1.087 billion for the four weeks ended August 4, 2001. This is a decrease of 6.4 percent from total sales of $1.161 billion for the same period last year, in part reflecting the strategic downsizing of Fingerhut and the closing of the Stern's division. On a comp-store basis, Federated's July sales were down 4.2 percent.
For the 13-week second quarter of 2001, Federated's sales totaled $3.731 billion, down 8.2 percent from total sales of $4.065 billion in the same period last year. On a comp-store basis, sales for the second quarter were down 4.8 percent.
For the 26-week year to date, Federated's sales totaled $7.554 billion, a decrease of 6.7 percent compared to sales of $8.097 billion for the first 26 weeks of last year. On a comp-store basis, Federated's year-to-date sales were down 3.1 percent.
The company will report its second-quarter earnings on August 15, 2001.
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 $18.4 billion. Federated currently operates more than 450 stores in 34 states, Puerto Rico and Guam under the names of Bloomingdale's, The Bon Marche, Burdines, Goldsmith's, Lazarus, Liberty House, Macy's and Rich's, as well as macys.com, bloomingdales.com, Bloomingdale's By Mail and Fingerhut.
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