Federated June Sales Hit $1.3 Billion

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Federated Department Stores Inc., Cincinnati, yesterday reported total sales of $1.3 billion during the five weeks ended July 6.


This represents an increase of 3.2 percent over total sales of $1.326 billion during the same period last year. On a same-store basis, Federated's June sales were down 0.4 percent.


For the 22-week year to date, Federated's sales totaled $5.970 billion, a drop of 1.2 percent compared to sales of $6.041 billion during the same period last year. On a same-store basis,


Federated's year-to-date sales were down 2.5 percent.


In other earnings news:


· The Spiegel Group, Downers Grove, IL, posted sales of $196.6 million during the five weeks ended June 29, representing a 20 percent fall from sales of $246.3 million during the comparable period ended June 30, 2001. During the 26 weeks ended June 29, total sales fell 17 percent to $1.07 billion from $1.28 billion during the same period last year. The group's sales results by division for June reflected a decline of 11 percent at Eddie Bauer, 29 percent at Newport News and 36 percent at Spiegel Catalog. Sales results for the Group reflected continued weakness in customer demand as well as a planned drop in catalog circulation compared to last year. Also, Eddie Bauer shifted the mailing of its summer sale catalog from June last year to July this year. Newport News and Spiegel Catalog continue to be affected by more stringent credit-granting measures taken in the company's private-label credit card business. Sales from the Group's e-commerce channel fell 3 percent during the month. Total direct sales fell 31 percent and the Group's retail store sales decreased 6 percent. Also, The Spiegel Group named Fabian Mansson as president/CEO for its Eddie Bauer division.


· Sears, Roebuck and Co., Hoffman Estates, IL, produced total domestic store revenues during the five weeks ended July 6 of $2.8 billion, a 1.6 percent decrease compared with the five weeks ended July 7, 2001. Comparable domestic store revenues decreased 3.8 percent.


· Abercrombie & Fitch, New Albany, OH, recorded net sales of $117.7 million during the five-week period ended July 6, representing a 19 percent increase over last year's net sales of $99.3 million in June. The month's comparable store sales decreased 5 percent. Year-to-date, the company reported a net sales increase of 18 percent to $515.7 million from $436.8 million last year. Comparable stores sales decreased 6 percent for the year-to-date period.


· Limited Brands, Columbus, OH, reported a comparable store sales increase of 5 percent during the five weeks ended July 6 compared to the five weeks ended July 7, 2001. Net sales totaled $858.7 million, representing an increase of 8 percent compared to adjusted sales of $793.3 million last year. Adjusted sales in 2001 exclude sales from Lane Bryant, which was sold to Charming Shoppes Inc. in August 2001. Net sales during the five weeks ended July 7, 2001, including Lane Bryant, amounted to $878.1 million. The company reported a comparable store sales increase of 4 percent during the 22 weeks ended July 6 compared to the 22 weeks ended July 7, 2001. Net sales totaled $3.557 billion, an increase of 8 percent compared to adjusted sales of $3.302 billion last year. Net sales during the 22 weeks ended July 7, 2001, including Lane Bryant, were $3.707 billion.


· The Talbots Inc., Hingham, MA, reported that total company sales during the five weeks ended July 6 fell 1 percent to $161.8 million from $164.2 million during the five weeks ended July 7, 2001. Comparable store sales dropped 8.7 percent during the month, driven in part by extremely low levels of markdown inventory. Year-to-date sales for the 22 weeks ended July 6 fell 2 percent to $667.2 million from $678.8 million during the 22 weeks ended July 7, 2001. Comparable store sales fell 6.9 percent during the 22-week period.


· J. Crew Group Inc., New York, reported revenues for the five weeks ended July 6 of $65.4 million compared to $66.9 million for the five weeks ended July 7, 2001. Comparable store sales for the Retail division decreased 9.8 percent for the five weeks ended July 6 compared to the same five-week period last year. Net sales for the Direct division decreased 7.6 percent for the comparable five-week period. Revenues for the 22 weeks ended July 6 totaled $289.1 million compared to $290.6 million for the 22 weeks ended July 7, 2001. Comparable store sales for the Retail division decreased 11.8 percent for the 22-week period in 2002 compared to the same period last year. Net sales for the Direct division decreased 1 percent for the comparable 22-week period.


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