Federated Department Stores
said Wednesday that same-store sales in December were up just 1.2% compared with the same period last year. It attributed the "disappointing" results to "heightened consumer concerns over a slowing economy."
The New York-based parent company of the Macy's and Bloomingdale's chains said total sales in the five weeks ended Dec. 30, 2000 were $3.29 billion, down 0.6% from sales of $3.31 billion for the same period last year.
For the full-year 2000, Federated's same-store sales rose 2%, while total sales grew 3.3% to $17.3 billion, up from $16.75 billion in the same 48-week period of 1999.
Federated closed at $34.38 in Tuesday trading on the
New York Stock Exchange