Federated Department Stores reported total sales of $2.834 billion for the five weeks ended January 1, 2005, an increase of 1.9 percent over total sales of $2.781 billion in the same period last year. On a same-store basis, Federated’s December sales were up 2.3 percent.
For the year to date, Federated’s sales totaled $14.823 billion, up 2.6 percent from total sales of $14.451 billion in the first 48 weeks of fiscal 2003. On a same-store basis, Federated’s year-to-date sales were up 2.7 percent.
Terry J. Lundgren, Federated’s chairman, president and chief executive officer, said the company was pleased with its December sales performance, which was within the forecasted range of a 1 to 3 percent same-store sales increase in the period.
The company said it anticipates January same-store sales that are in the range of up 1 percent to down 1 percent, with fourth quarter same-store sales that are up 0.5 to 1.0 percent. Federated also reaffirmed its earnings guidance of $2.45 to $2.55 a share for the fourth quarter, which ends January 29, 2005.