USA: Federated's August Sales Drop 5.5 Per Cent
Federated Department Stores Inc today reported total sales of $1.203 billion for the four weeks ended September 1, 2001. This is a decrease of 5.5 per cent from total sales of $1.272 billion for the same period last year, in part reflecting the strategic downsizing of Fingerhut and the closing of the Stern's division. On a comp-store basis, Federated's August sales were down 2.6 per cent.
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