Federated Department Stores, Inc. reported total sales of $1.076 billion for the four weeks ended May 3, 2003. This represents a decrease of 1.7 percent from total sales of $1.096 billion for the same period last year. On a same-store basis, Federated’s April sales were down 1.4 percent.
For the first quarter and year to date, Federated’s sales totaled $3.292 billion, down 4.6 percent from total sales of $3.453 billion in the same period last year. On a same-store basis, Federated’s year-to-date sales were down 5.0 percent.
Federated expects same-store sales in May to be down minus 1 to minus 3 percent. Federated also reaffirmed its first quarter earnings guidance of 14-19 cents a share. The company reports its first quarter earnings on May 14.
