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FY06 same-store sales up at Federated

February 28, 2007

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Cincinnati—On a 52-week basis, same-store sales at Federated Department Stores increased 4.4 percent for fiscal year 2006, ended Feb. 3, the company announced today.

Total sales for the fiscal year increased 20.5 percent to $26.97 billion.

Sales in the 14-week fourth quarter of 2006 totaled $9.16 billion, a decrease of 4.3 percent from total sales of $9.57 billion in the 13-week fourth quarter of 2005, following the closure of about 80 duplicative stores over the year.

On a 13-week basis, same-store sales increased 6.1 percent.

In the fourth quarter of 2006, Federated opened a new Bloomingdale's in San Diego, Calif., and a Bloomingdale's replacement store in Boston. The company also reopened Macy's stores in Miami and Ft. Lauderdale, Fla., which had closed because of damage from Hurricane Wilma in 2005.

Federated expects same-store sales in 2007 to increase by 2 percent to 3.5 percent, including a same-store sales increase of 2.5 percent to 3.5 percent in the first quarter, a same-store sales increase of 1.5 percent to 2.5 percent in the second quarter, and a same-store sales increase of 2 percent to 3.5 percent in the third and fourth quarters combined.
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