From: ASAP
Remote Name: 216.57.26.250
Federated Department Stores, Inc. reported total sales of $1.203 billion for the four weeks ended September 1, 2001. This is a decrease of 5.5 percent from total sales of $1.272 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 August sales were down 2.6 percent.
For the first 30 weeks of 2001, Federated's sales totaled $8.757 billion, a decrease of 6.5 percent compared to sales of $9.370 billion for the same 30-week period last year. On a comp-store basis, Federated's year-to-date sales were down 3.1 percent.
The company today also reconfirmed its prior earnings guidance of $3.60 to $3.80 a share for the full year.
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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