Federated's Q3 sales up, earnings down
Federated Department Stores Inc. reported sales in the third quarter ended Oct. 28 totaled $5.886 billion - a 6 percent increase compared to the same period last year. On a same-store basis, Federated's sales were up 5.9 percent.
Cincinnati-based Federated also reported earnings of 3 cents per diluted share from continuing operations in the third quarter compared with diluted earnings per share of 87 cents for the same 13-week period last year.
For the year-to-date period, Federated's sales totaled $17.811 billion, up 39 percent over last year. On a same-store basis, year-to-date sales increased 3.5 percent.
During the same period, Federated reported diluted earnings from continuing operations of 41 cents per share compared with $1.76 per share in the same period of 2005.