Federated Department Stores Inc. (Cincinnati) has reported a 0.2 percent total sales decrease for the five weeks ended Oct. 2, 2004. Same-store September sales were up 0.1 percent.
As the company previously noted, its September sales were negatively impacted by about $30 million as a result of Florida hurricanes Frances and Jeanne, which combined to reduce sales for the month by approximately 2 percent.
Year to date, Federated’s sales are up 3.3 percent and same-store sales are up 3.4 percent.
“September sales showed modest improvement relative to August, although not enough to predict a robust October,” said chairman, president and ceo Terry Lundgren. He said the department store retailer was now anticipating October same-store sales to be up 2 to 3 percent, which would result in relatively flat same-store sales for the third quarter. The hurricanes are estimated to have reduced the third quarter sales by approximately 1 percent. For the fourth quarter, Federated continues to expect same-store sales to increase 1.5 to 3 percent.
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