Federated Department Stores total sales were $1.172 billion for the four weeks ended May 29, 2004, an increase in total sales of 3.3 percent compared to total sales of $1.136 billion in the same period last year. On a same-store basis, Federated's May sales were up 2.9 percent.
For the year to date, Federated's sales totaled $4.689 billion, up 5.9 percent from total sales of $4.427 billion in the first 17 weeks of 2003. On a same-store basis, Federated's year-to-date sales also were up 5.9 percent.
Terry J. Lundgren, Federated's chairman, president and chief executive officer, said the company was pleased with the strength of its May sales, which exceeded expectations. Federated had projected same-store sales that were relatively flat in May, reflecting a shift of sales into June because of a later Memorial Day weekend this year.
Looking ahead, Lundgren said the company is raising its second quarter sales guidance. The company now expects same-store sales to be up 4-5 percent in the 13-week period of May through July, compared to its prior guidance of up 2-4 percent. For the month of June, Lundgren said Federated is anticipating a 4-5 percent same-store sales increase.
