Federated Department Stores Inc. (Cincinnati) reported a 1.3 percent total sales increase for the four weeks ended Aug. 27, 2005. Same-store sales increased 1.1 percent.
Chairman, president and ceo Terry Lundgren said that, while the company looks forward to positive business trends in the fall season, August sales were below expectations, due in part to Hurricane Katrina’s negative impact on stores in Florida and Louisiana. Looking ahead, Lundgren said the company expects a same-store sales increase of approximately 2-3 percent in September in Macy’s and Bloomingdale’s stores.
While not part of Federated in August, sales for the newly acquired May Department Stores Co. (St. Louis) fell 2.5 percent and same-store sales decreased by 2.8 percent. Beginning in September, Federated will report total store sales, including May Co. Same-stores sales will include Macy’s and Bloomingdale’s locations open for more than one year.