Federated Department Stores Inc. (Cincinnati) reported a 3 percent gain in total sales for the five weeks ended Oct. 4, 2003. September's same-store sales were up 3.2 percent (compared to prior forecasts of flat to down 1 percent).
For the year to date, Federated's sales are down 2 percent from a year ago, and same-store sales are also down 2 percent.
Terry Lundgren, Federated president and ceo, said the company was pleased by the strength of its September sales. “We were especially encouraged by the strength of apparel sales across the company in September, at least partially reflecting the arrival of fall's cooler temperatures in the eastern half of the country,” Lundgren said, adding that “it remains to be seen whether this sales trend is permanent or if it reflects sales taken from October and the fourth quarter.”
Lundgren said he now anticipates that October same-store sales will be flat to up slightly.