Federated Same-Store Sales Down 5.8% in August.Business Editors CINCINNATI--(BUSINESS WIRE)--Sept. 5, 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 $1.086 billion for the four weeks ended August 31, 2002. This represents a decrease of 3.8 percent from total sales of $1.129 billion for the same period last year. On a same-store basis, Federated's August sales were down 5.8 percent. For the 30-week year to date, Federated's sales totaled $8.025 billion, a decrease of 1.8 percent compared to sales of $8.173 billion for the same period last year. On a same-store basis, Federated's year-to-date sales were down 3.3 percent. "We obviously were disappointed with our August sales performance," said James M. Zimmerman, Federated's chairman and chief executive officer. "However, we did see some improvement in sales trends during the last two weeks of the month, including the Labor Day Labor Day, holiday celebrated in the United States and Canada on the first Monday in September to honor the laborer. It was inaugurated by the Knights of Labor in 1882 and made a national holiday by the U.S. Congress in 1894. weekend, which gives us encouragement for achieving our plan of a 1 to 3 percent same-store sales increase for the fall season." 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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