Headlines

Federated Posts Loss

Department store organization reveals it struggled in 3Q with integration of May stores

Published

18 years ago

November 9, 2006

admin1

Federated Department Stores Inc. (Cincinnati) reported a $3 million loss for its third quarter ended Oct. 28, 2006.

Even excluding the costs and inventory valuation adjustments associated with the integration of its new acquisitions via May Department Stores Co. (St. Louis), the company said its third quarter earnings were well below those of a year ago and trailing analysts’ estimates.

“The May stores are proving to be a little more difficult to turn around than originally anticipated,” one analyst, Arun Daniel of ING Investment Management, told Reuters News Service. “I think the market was clearly anticipating a much faster pace than the current pace that is happening.”

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design