"Three Macy's Florida stores - Plantation, Sunrise Galleria in Ft. Lauderdale and The Falls in Miami - incurred substantial damage and are likely to remain closed through the holiday season. In addition, two Macy's East stores in New Orleans remain closed after Hurricane Katrina."
"They are cautiously optimistic for the fourth quarter, with same-store sales expected to increase by 1 to 2 percent over last year," Lundgren said. "They have an exciting merchandise assortment and marketing campaign planned for the holiday season, which we believe will attract customers to our stores, despite the pressure they feel from economic uncertainty and coming increases in home heating costs."
Federated is slated to report its third quarter earnings on Wednesday, November 9, and will Webcast a call with financial analysts at 10:30 a.m.(ET).
Federated, with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with 2004 sales of more than $15.6 billion. With the May Company's 491 department stores and 721 bridal and formalwear stores in 49 states, the District of Columbia and Puerto Rico, Federated operates nearly 950 department stores and more than 700 bridal and formalwear stores in 49 states.
marketing@alchempro.com
