Federated Sees Sales, Earnings Impact from Hurricane Frances.CINCINNATI -- 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) said early estimates of the impact of Hurricane Frances on lost sales in its Florida stores is expected to total approximately $20 million, reducing September same-store sales by 1.5 percent and earnings by about 3-4 cents a share in the third quarter. The company said that while it still is too early to precisely evaluate the total impact of the weekend's devastating dev·as·tate tr.v. dev·as·tat·ed, dev·as·tat·ing, dev·as·tates 1. To lay waste; destroy. 2. To overwhelm; confound; stun: was devastated by the rude remark. storm on the business overall, it did not believe any of its Burdines-Macy's or Bloomingdale's stores in Florida suffered major structural damage from the hurricane. The hurricane's impact began to be felt on Wednesday with significant sales declines as people prepared for the storm. Federated's stores began closing on Thursday, primarily in the southeastern part of the state and the Orlando area. Over the weekend, as the hurricane slowly traveled west across the state, southeastern stores began reopening as stores on the Gulf coast of Florida were closed. As of today, the company expects that only a handful of stores will remain closed due to power outages. The company said it will take several weeks before there can be a complete assessment of the hurricane's impact on business, both in terms of lost sales before and during the storm, as well as any potential sales rebound in the days to come. 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 $15.2 billion. Federated operates more than 450 stores in 34 states, Guam and Puerto Rico under the names of Macy's, Bloomingdale's, Bon-Macy's, Burdines-Macy's, Goldsmith's-Macy's, Lazarus-Macy's and Rich's-Macy's. The company also operates macys.com and Bloomingdale's By Mail. (NOTE: Additional information on Federated, including past news releases, is available at www.fds.com/pressroom.) |
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