USA: Federated Department Stores Reveals Sales Slide
US retail giant Federated Department Stores Inc on Tuesday posted a slide in same-store sales for the fourth quarter and fiscal 2001 and announced plans to open 14 new stores during fiscal 2002. The company blamed a weakening economy for the fact that same-store fourth quarter sales were down 3.9 per cent while total fourth quarter sales reached $5.13 billion this year, compared to $5.6bn in the year-ago period.
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