Federated Department Stores Inc. (Cincinnati) reported a 2.6 percent sales increase for the four weeks ended April 30, 2005. Same-store sales were up 2.8 percent.
For the department store retailer’s first quarter, sales were up 2.5 percent and same-store sales were up 2.6 percent.
“Considering the shift of Easter out of April, it was another strong sales performance for our company, with actual sales exceeding our prior expectations for a relatively flat month,” said chairman, president and ceo Terry Lundgren. “As a result of this continuing strength, we are revising our earnings guidance for the first quarter of the year. We now expect earnings for the first quarter of 2005 to be in the range of 65-70 cents a share. This compares to 52 cents a share in the same period last year, and our prior first-quarter 2005 guidance of 45-50 cents a share.”
Looking ahead, Lundgren said Federated expects its same-store sales for the month of May to be up about 2 percent. Second quarter same-store sales are anticipated to increase by approximately 1 percent.
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