Federated Department Stores reported total sales of $1.163 billion for the four weeks ended April 30, 2005, an increase in total sales of 2.6% compared to total sales of $1.133 billion in the same period last year. On a same-store basis, Federated's April sales were up 2.8%.
For the 13-week first quarter and year to date, Federated's sales totaled $3.606 billion, up 2.5 percent from total sales of $3.517 billion in the first 13 weeks of 2004. On a same-store basis, Federated's first quarter sales were up 2.6 percent.
Terry J. Lundgren, Federated's chairman, president and chief executive officer, said the company was very pleased with the strength of its April sales.
“Considering the shift of Easter out of April, it was another strong sales performance for our company, with actual sales exceeding our prior expectations for a relatively flat month,” Lundgren said. “As a result of this continuing strength, we are revising our earnings guidance for the first quarter of the year. We now expect earnings for the first quarter of 2005 to be in the range of 65-70 cents a share. This compares to 52 cents a share in the same period last year, and our prior first-quarter 2005 guidance of 45-50 cents a share.”
Looking ahead, Lundgren said Federated expects its same-store sales for the month of May to be up about 2 percent. Second quarter same-store sales are anticipated to increase by approximately 1 percent. The company reiterated its second quarter earnings guidance of 80-85 cents a share.
