Federated Department Stores, Inc. reported total sales of $1.137 billion for the four weeks ended May 31, 2003. This represents a decrease of 1.2 percent from total sales of $1.150 billion for the same period last year. On a same-store basis, Federated’s April sales were down 0.8 percent.
For the year to date, Federated’s sales totaled $4.428 billion, down 3.8 percent from total sales of $4.603 billion in the same period last year. On a same-store basis, Federated’s year-to-date sales were down 4.0 percent.
Terry J. Lundgren, Federated’s president and chief executive officer, said the company’s performance in May exceeded its expectations of minus 2 to minus 3 percent for the period.
Looking ahead, Federated expects same-store sales in June to be down minus 1 to minus 2 percent.
