Federated Department Stores, Inc. (NYSE:FD)(PCX:FD) today reported total sales of $1.337 billion for the five weeks ended July 5, 2003. This represents a decrease of 2.2 percent from total sales of $1.367 billion for the same period last year. On a same-store basis, Federated’s June sales were down 2.0 percent.
For the year to date, Federated’s sales totaled $5.763 billion, down 3.5 percent from total sales of $5.970 billion in the same period last year. On a same-store basis, Federated’s year-to-date sales were down 3.6 percent.
Terry J. Lundgren, Federated’s president and chief executive officer, said the company’s performance in June was consistent with its expectations of minus 1 to minus 2 percent for the period.
Looking ahead, Federated expects same-store sales in July to be down 1 to 2 percent from last year’s levels.
