Federated Department Stores reported total sales of $998 million for the four weeks ended July 30, 2005, a decrease in total sales of 0.8% compared to total sales of $1.005 billion in the same period last year. On a same-store basis, Federated's July sales were down 0.9%.
For the 13-week second quarter of 2005, Federated reported total sales of $3.624 billion, up 1.2 percent over sales of $3.581 billion in the same period last year. On a same-store basis, Federated's second quarter sales were up 1.1 percent.
For the year to date, Federated's sales totaled $7.265 billion, up 1.9 percent from total sales of $7.131 billion in the first 26 weeks of 2004. On a same-store basis, Federated's year-to-date sales were up 1.8 percent.
Terry J. Lundgren, Federated's chairman, president and chief executive officer, said that although July was disappointing, the company is reiterating second quarter earnings guidance of 80-85 cents per share.
Looking ahead, Lundgren said Federated expects a same-stores sales increase of approximately 2-3 percent in August, along with increases of 3 percent in each of the third and fourth quarters.
