Federated Department Stores Inc. (Cincinnati) has reported a total sales gain of 89.6 percent for the five weeks ended Oct. 1, 2005. Same-store sales were up 1.3 percent.
Federated's total sales for September include the May Co. acquisition, which was completed Aug. 30, 2005. Same-store sales include only Macy's and Bloomingdale's locations. Sales from the company's Bridal Group division, which the company intends to divest and is being treated as a discontinued operation, are excluded from Federated total September sales.
“We had expected September comp store sales at Macy's and Bloomingdale's to increase between 2 and 3 percent. But a number of factors have led to disappointing sales results,” said chairman, president and ceo Terry Lundgren. “These include lost sales from stores closed because of Hurricanes Katrina and Rita, reduced consumer spending resulting from higher gas prices, dampened consumer confidence and continued softness in our home store business.”
For the year to date, Federated's sales are up 14.3 percent and same-store sales are up 1.7 percent.