USA: Federated's First Quarter Produces Increased Sales, Earnings
Federated Department Stores, Inc. today reported net income of $89 million for the first quarter of 2000, up 2.0 percent from net income of $87 million for the first 13 weeks of last year. Diluted earnings per share were 41 cents for the first quarter of 2000, compared to 40 cents for the first quarter of 1999. James M. Zimmerman, Federated's chairman and chief executive officer, said the company is pleased with its first quarter performance, which exceeded expectations. "We were especially happy with the 13 percent increase we experienced in operating income, which was driven by a strong performance in our department stores," Zimmerman said. Addressing the direct-to-customer segment, Zimmerman noted that this year's results reflect Fingerhut's inclusion in the full quarter compared to just one month following its March acquisition by Federated last year, as well as increased e-commerce spending.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- China leads US apparel sources with falling prices
- Hard hit Turkish industry is not knocked out
- Vietnam grows share of US apparel imports in 2016
- "Power of the many" drives change at Otto Group
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Carter's, Kohl's, L Brands
- Bangladesh crackdown has cost garment sector $100m
- Adidas and Burberry recognised for sustainability
- Inditex and H&M boycott Dhaka Apparel Summit
- Macy's will "do the right thing", says Lundgren
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022