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Federated Q2 Stable

CINCINNATI-Federated Department Stores reports unwavering Q2 earnings as it enters into the final phase of its $11 billion merger.

By Dana Dubriwny | Updated on August 10, 2005

CINCINNATI-As Federated Department Store Inc. wraps up its final “meet and greet” engagements this week with May Department Stores Co., the company reports another stable quarter before the two department store giants officially merge in the next month or so. The combined companies, which will be controlled by Federated management, will operate more than 950 department stores across the country.

“There were no real surprises in the quarter,” Karen Hoguet, senior vice president and CFO told investors during Wednesday’s earnings call. “We had a quarter consistent with our expectations, and we are waiting until the May deal closes to give guidance for the fall season.”

Hoguet said Federated’s strongest sales for the quarter ended July 30 were in Florida, while weaker results were reported in the central and northwest division. Private-brand merchandise continued to perform well with the strongest categories being cosmetics, shoes and handbags. Women’s apparel remained strong in the quarter, while the company saw a renewed interest in juniors.

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