Federated Department Stores Inc., Cincinnati, said “improved sales trends and good inventory management led to stronger profitability in the latter part of the quarter” in reporting its fiscal fourth quarter and full-year results yesterday.
In the fourth quarter ended Jan. 31, total sales rose 0.7 percent compared with the prior-year period. On a same-store basis, sales increased 1.4 percent.
Sales for the 52 weeks of fiscal 2003 decreased 1.1 percent to $15.26 billion compared with $15.44 billion in fiscal 2002. On a same-store basis, annual sales dropped 0.9 percent.