Federated reported total sales of $2.782 billion for the five weeks ended January 3, 2004, an increase in total
sales of 0.4 % compared to total sales of $2.771 billion in the same period last year. On a same-store basis, Federated's December sales were up 1.2 %.
For the 48-week year to date, Federated's sales totaled $14.451
billion, down 1.4 percent from total sales of $14.660 billion in the
same period last year. On a same-store basis, Federated's year-to-date
sales were down 1.2 percent.
Terry J. Lundgren, Federated's president and chief executive
officer, said the company was pleased with its December sales
performance, which slightly exceeded the high end of prior guidance of
same-store sales in the range of down 1 percent to up 1 percent. He
said sales were stronger than anticipated in the last two weeks of the
month, which more than offset the impact of snowfalls in the Northeast
during the first two weeks of December.
Lundgren said the company expects same-store sales for January to
be in the range of up 1 percent to down 1 percent, and he reiterated
Federated's expectations for fourth quarter earnings of $2.15 to $2.20
a share.
