Federated Sees Q1 Gains
Federated Department Stores Inc.'s sales for its first quarter ended April 30 totaled $3.61 billion, a 2.5 percent gain over the same period last year, the Cincinnati-based retailer reported yesterday.On a same-store basis, year-to-date sales increased 2.6 percent.
Net income for the quarter totaled $123 million, up 27 percent over last year.
In addition, first-quarter operating income totaled $252 million, or 7 percent of sales. In the year-ago period, operating income reached $217 million, or 6.2 percent of sales.
Also during the first quarter, the company generated $56 million in cash flow from operating activities compared with $73 million in the same period last year.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters
