This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Federated Dept. Stores Lowers Same-Store Sales Forecast for 2001

Federated Department Stores (FD) reported weaker-than-expected same-store sales for March, forcing the company to lower its comparable sales guidance for the rest of the fiscal year.

The department store owner said same-store sales fell 3.2% for the month. According to Thomson Financial/First Call, analysts were expecting a decrease of 1.4%. Total sales for the five weeks ended April 7 fell 5.9% to $1.43 billion from $1.52 billion in the same period last year.

Federated, which operates several chains, including Bloomingdale's and Macy's, said "we are very disappointed with March sales. Weather was a factor in many parts of the country, but we think deteriorating consumer confidence in the wake of current economic uncertainty is also having a significant impact on our sales."

As a result, the company lowered its same-store sales guidance for 2001. The company now expects comp sales to stay flat or increase up to 1%, after previously expecting growth of 2%.

Shares of Federated fell $2.60, or 6.2%, or $39.05 in recent New York Stock Exchange trading.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $126.44 0.00%
FB $87.28 0.00%
GOOG $523.40 0.00%
TSLA $280.02 0.00%
YHOO $39.38 0.00%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs