USA: FDS Lowers Earnings Estimates For Q2 And The Year
Federated Department Stores, Inc today revised its earnings guidance for the second quarter and fiscal 2001. The company said that as a result of continued weak sales in its department store segment, second quarter earnings now are expected to be between 40-50 cents a share, excluding restructuring charges. This is down from an earlier forecast of 70-75 cents a share on the same basis.
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