Federated September Comp Sales Down 12.9%.Business & Consumer/Retail Editors CINCINNATI--(BUSINESS WIRE)--Oct. 11, 2001 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) today reported a 12.9 percent decrease in comparable-store sales for the five weeks ended October 6, 2001, reflecting the aftermath of the September 11th terrorist attacks and the slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. in the economy. Total September sales of $1.396 billion represent a decrease of 14.5 percent from sales of $1.632 billion for the same period last year. For the first 35 weeks of 2001, Federated's same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. were down 4.5 percent. Year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. sales totaled $10.153 billion, a decrease of 7.7 percent compared to sales of $11.002 billion for the same 35-week period last year. The company said comp-store sales improved relative to plan in the latter part of September, running approximately 5-7 percent below plan by month's end. Previous estimates were for September same-store sales declines of 15-20 percent. Sales in the company's two Manhattan flagship stores -- Macy's Herald Square Herald Square is formed by the intersection of Broadway, Sixth Avenue (officially named Avenue of the Americas) and 34th Street in the borough of Manhattan in New York City. It was named for the New York Herald, a newspaper originally headquartered there. and Bloomingdale's 59th Street -- also improved during the month, although they still significantly trailed the company's overall sales trend. Excluding these stores, Federated said its September comp-sales would have been about one point better than reported. While it remains difficult to forecast sales in the current environment, Federated said its best estimate is that October's same-store sales will be 7-10 percent below last year. The earnings impact of the lower-than-expected sales on the third and fourth quarters still is being evaluated, and revised earnings guidance will be issued when that assessment is completed. 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 $18.4 billion. Federated currently operates more than 450 stores in 34 states, Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. 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.
Sales Summary - $ in billions
Comp-
Period Ended Total Store
10/06/2001 9/30/2000 Decrease Decrease
5 weeks ---------- --------- -------- --------
-------
Department Stores(a) $ 1.289 $ 1.481 (12.9)% (12.9)%
Fingerhut .107 .151 (29.4)%
--------- --------- -------
Total Federated $ 1.396 $ 1.632 (14.5)%
35 weeks
--------
Department Stores(a) $ 9.463 $ 9.885 (4.3)% (4.5)%
Fingerhut .690 1.117 (38.2)%
--------- --------- -------
Total Federated $ 10.153 $ 11.002 (7.7)%
Note:
(a) Includes department-store-related Internet and catalog operations.
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