Federated Predicts Sales Won't Reach Forecast
Federated Department Stores Inc. said yesterday that same-store store sales for November/December would likely fail to reach the bottom end of its forecasted range of flat to down 2.5 percent.The company said that sales did not strengthen as much as anticipated during the third week of December.
In its weekly sales update for the third week of December, Federated, Cincinnati, also cited the difficulty in forecasting due to the "anticipated volume of the next few days before Christmas as well as the week after Christmas."
The update included sales from Dec. 15-21.
The combined November/December period includes Nov. 3 through Jan. 4.
