Federated reports declining sales
Oct 12, 2001 12:00 PM, Misty Reagin
Cincinnati – Locally based Federated Department Stores Inc. reported a 12.9% decrease in comparable-store sales for the five weeks ended October 6, 2001, reflecting the aftermath of the September 11th terrorist attacks and the slowdown in the economy.
Total September sales of approximately $1.4 billion represent a decrease of 14.5% from sales of approximately $1.6 billion for the same period last year.
For the first 35 weeks of 2001, Federated's same-store sales were down 4.5%. Year-to-date sales totaled roughly $10 billion, compared to sales of roughly $11 billion for the same 35-week period last year.
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