Federated Sales Slip In May
Cool weather sees US department store group same store sales down 3.4 per cent
June 6 2002
Federated Department reported total sales of $1.150 billion for the four weeks ended June 1, 2002.
On a like-for-like basis, this is a fall of 3.4 percent for the department store operator, whose 450 stores across the USA include Macy’s and Bloomingdales.
James M. Zimmerman, Federated’s chairman and CEO said: “The end of the month was a disappointment, and the exceptionally cool weather that much of the country has been experiencing probably is a large part of the reason for this negative performance. We are hopeful our sales trends will improve now that more seasonable weather finally has arrived.”
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