Federated Department Stores, Inc. reported a 1.3% increase in total sales to $1.069 billion for the four weeks ended August 27, 2005, compared to total sales of $1.056 billion in the same period last year. On a same-store basis, Federated's August sales increased 1.1%.
For the year to date, Federated's sales totaled $8.333 billion, up 1.8% from total sales of $8.187 billion in the first 30 weeks of 2004. On a same-store basis, Federated's year-to-date sales were up 1.7%.
Terry J. Lundgren, Federated's chairman, president and chief executive officer, said that, while the company looks forward to positive business trends in the fall season, August sales were below expectations, due in part to Hurricane Katrina's negative impact on stores in Florida and Louisiana.
Looking ahead, Lundgren said the company expects a same-store sales increase of approximately 2%-3% in September in Macy's and Bloomingdale's stores.
While not part of Federated in August, sales for The May Department Stores Company during the month totaled $1.027 billion, compared with $1.054 billion last year. On a same-store basis, May Company's August sales decreased by 2.8%.
Beginning in September, Federated will report total store sales, including May Company. Comp stores sales will include Macy's and Bloomingdale's locations open for more than one year.
