Federated Same-Store Sales Down 3.4% in May.Business Editors CINCINNATI--(BUSINESS WIRE)--June 6, 2002 Federated Connected and treated as one. See federated database and federated directories. Department Stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. , Inc. (NYSE NYSE See: New York Stock Exchange :FD)(PCX (1) A bitmapped graphics file format that handles monochrome, 2-bit, 4-bit, 8-bit and 24-bit color and uses RLE to achieve compression ratios of approximately 1.1:1 to 1.5:1. Images with large blocks of solid colors compress best under the RLE method. See PC Paintbrush. :FD) today reported total sales of $1.150 billion for the four weeks ended June 1, 2002. This represents a decrease of 0.8 percent from total sales of $1.159 billion for the same period last year. On a same-store basis, Federated's May sales were down 3.4 percent. For the 17-week year to date, Federated's sales totaled $4.603 billion, a decrease of 2.4 percent compared to sales of $4.715 billion for the same period last year. On a same-store basis, Federated'syear-to-date sales were down 3.1 percent. "The end of the month was a disappointment, and the exceptionally cool weather that much of the country has been experiencing probably is a large part of the reason for this negative performance," said James M. Zimmerman, Federated's chairman and chief executive officer. "We are hopeful our sales trends will improve now that more seasonable Within a reasonable time; timely. The term seasonable is usually used in connection with the performance of contractual obligations that must be completed "seasonably." The facts and circumstances of each case define a reasonable period of time. weather finally has arrived." Federated, with corporate offices in Cincinnati and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , is one of the nation's leading department store retailers, with annual sales of more than $15.6 billion. Federated currently operates more than 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. The company also operates macys.com and Bloomingdale's By Mail. (NOTE: Weekly sales updates are available at 513/579-7987 and on the Internet at www.fds.com.) |
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