Famous departmental store operator Federated, reported total sales of $2.138 billion for the four weeks ended Oct. 29, 2005, an increase in total sales of 92.9 percent compared to total sales of $1.108 billion in the same period last year. On a same-store basis, Federated's October sales were down 0.7 percent.
For the third quarter of 2005, the company's total sales were $5.786 billion, an increase of 64.2 percent compared to total sales of $3.525 billion in the same 13-week period last year. On a same-store basis, Federated's third-quarter sales were up 0.6 percent.
For the year to date, Federated's sales totaled $13.050 billion, up 22.5 percent from total sales of $10.656 billion in the first 39 weeks of 2004. On a same-store basis, Federated's year-to-date sales were up 1.4 percent.
Federated's total September and October sales include the May Company acquisition, which was completed Aug. 30, 2005. Same-store sales include only Macy's and Bloomingdale's locations open for more than one full fiscal year. Sales from the company's Bridal Group division, which the company intends to divest and is being treated as a discontinued operation, are excluded from Federated total September and October sales.
"Sales in October were negatively impacted by the effects of Hurricane Wilma, which caused significant damage and widespread power outages in Florida. In all, 36 Macy's and five Bloomingdale's stores were closed for varying periods of time during October. These store closures accounted for the loss of approximately 1.7 percent in Federated comp store sales in October and approximately 0.5 percent in the third quarter," said Terry J. Lundgren, Federated Chairman, President and Chief Executive Officer.
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