TITLE

Federated beats Street as profits dip

AUTHOR(S)
Hogsett, Don
PUB. DATE
November 2003
SOURCE
Home Textiles Today;11/17/2003, Vol. 25 Issue 12, p10
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Second-quarter profits for year 2003 at Federated Department Stores Inc. slipped by 36.8 percent, to $67 million from $106 million in 2002. Sales at the department store retailer edged up by 0.2 percent, to $3.5 billion. Same-store sales inched up by 0.3 percent. Average gross margin improved by 70 basis points, to 40.0 percent from 39.3 percent. Operating costs increased by 110 basis points, to 35.0 percent of sales from 33.9 percent in the preceding year. Looking ahead to the 2003 holiday season, Federated reaffirmed its fourth-quarter earnings forecast of $2.15 to $2.20 a share, and said it anticipates same-store sales will range between a one percent drop to a one percent gain.
ACCESSION #
11452339

 

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