Federated Keeps Sales Outlook

October same-store sales rise 7.7%, ahead of the high end of its earlier guidance.
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Federated Department Stores

(FD)

said October same-store sales rose 7.7%, ahead of the high end of its earlier guidance.

Total sales of $1.86 billion for the four weeks ended Oct. 28 fell 7.9% from last year. For the third quarter, the company's total sales rose 6% to $5.89 billion. Same-store sales for the quarter were up 5.9%.

Federated, the owner of Macy's and Bloomingdale's, expects same-store sales to increase by 3% to 5% in November and in the fourth quarter. The company continues to expect total fourth-quarter sales of $9.1 billion to $9.4 billion.