Federated Department Stores, Inc. saw total sales of $1.878 billion for the month of April a 60.2% increase over total sales of $1.173 billion in the same period last year. On a same-store basis, Federated's April sales were down -0.8%, which is above the company's guidance for a sales decline of -2.5% to -3.5%. April results reflect the shift into May this year of a major Macy's promotional event that fell into April last year.
For the 13-week first quarter and year to date, Federated's sales totaled $5.933 billion, up 63.0% from total sales of $3.641 billion in the first 13 weeks of 2005. This is within the company's guidance of first quarter 2006 total sales in the range of $5.75 billion to $6 billion. On a same-store basis, Federated's year-to-date sales were flat, which is above the company's guidance for a sales decline of -0.5% to -1.5%.
Federated expects same-store sales to increase by 4% to 6% in the month of May. The company reaffirmed its guidance for a sales increase of 3% to 5% for the second quarter.
Federated's total April and year-to-date sales for 2006 include the May Company acquisition, which was completed Aug. 30, 2005. Federated's same-store sales include only Macy's and Bloomingdale's locations. Excluded from Federated total sales are 75 duplicate stores where clearance sales are in progress or completed. Also excluded are the Lord & Taylor and Bridal Group divisions, which the company intends to divest and are being treated as discontinued operations.
