They were also pleased with sales in the former May Company divisions, which on a same-store basis were down slightly in the November-December period and exceeded their initial expectations.
"They remain on track to achieve their expected same-store sales increase of 1-2 percent in the fourth quarter," Lundgren said. "January same-store sales are expected to increase between 0.5-1.5 percent."
The company reiterated its guidance for earnings of $2.00 to $2.20 per share from continuing operations for the fourth quarter of fiscal 2005.
Excluding integration-related pre-tax costs of $100 million to $150 million, the company continues to expect fourth quarter earnings from continuing operations of $2.35 to $2.45 per share.
Federated, with corporate offices in Cincinnati and New York, is one of the nation's premier retailers.
With the May Company's more than 490 department stores and more than 720 bridal and formalwear stores in 49 states, the District of Columbia and Puerto Rico, Federated operates about 950 department stores and more than 720 bridal and formalwear stores in 49 states
Federated Department Stores Inc
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