Federated's March sales unexciting

07 Apr '06

2 min read

Nation's leading retailer, Federated Department Stores Inc reported total sales of $2.257 billion for the five weeks ended April 1, 2006, an increase of 64.7 percent compared to total sales of $1.371 billion in the same period last year. On a same-store basis, Federated's March sales were flat, which is consistent with the company's guidance of flat to +1 percent.

For the year to date, Federated's sales totaled $4.057 billion, up 64.4 percent from total sales of $2.468 billion in the first nine weeks of 2005. On a same-store basis, Federated's year-to-date sales were up 0.4 percent.

Federated's total March and year-to-date sales for 2006 include the May Company acquisition, which was completed Aug. 30, 2005. Federated's same-store sales include only Macy's and Bloomingdale's locations. Excluded from Federated total sales are 68 duplicate stores in clearance sale mode during the period, as well as the Lord & Taylor and Bridal Group divisions, which the company intends to divest and are being treated as discontinued operations.

Federated expects same-store sales to decline -2.5 percent to -3.5 percent in the April period, reflecting a late Mother's Day, which results in the shift of a major sale event into May this year from April last year. For the first quarter, the company continues to expect same-store sales to decline -0.5 percent to -1.0 percent - within the range of guidance provided on Jan. 26, 2006.

Federated, with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2006 sales expected to be more than $27 billion.

Federated operates more than 850 department stores and more than 720 bridal and formalwear stores in 49 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's, Bloomingdale's, Famous-Barr, Filene's, Foley's, Hecht's, Kaufmann's, Lord & Taylor, L.S. Ayres, Marshall Field's, Meier & Frank, Robinsons-May, Strawbridge's, The Jones Store, David's Bridal, After Hours Formalwear and Priscilla of Boston. The company also operates macys.com and Bloomingdale's By Mail.

Federated Department Stores Inc

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