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Federated Bounces Back

CINCINNATI-Despite taking a sales wallop in its Florida stores in September, Federated scores good Q3 numbers.

By Dees Stribling | Updated on November 10, 2004

CINCINNATI-Out of a total of 459 stores nationwide, Federated Department Stores owns 61 in the prosperous and populous state of Florida. When hurricanes made a punching bag out of the state in September, Federated’s sales there took a beating too—but not enough to adversely affect its overall third-quarter numbers.

According to the department store giant, sales in Q3 totaled about $3.49 billion, an increase of 0.2% compared to sales of about $3.48 billion in the same period last year. For the year-to-date, Federated’s sales totaled about $10.55 billion, an increase of 3.4% from sales of about $10.21 billion in the same period last year. On a same-store basis, Federated’s third quarter sales were up 0.4%, and its sales for the first 39 weeks of 2004 were up 3.4%.

Diluted earnings per share totaled $0.42 for the third quarter, compared to earnings of $0.36 in the same 13-week period last year. For the first three quarters of 2004, Federated reports earnings per share of $1.38, besting the $1.25 per share total in the same period of 2003.

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