USA: Federated Raises Q1 Profit Guidance
The owner of Macy's and Bloomingdale's, Federated Department Stores Inc, on Thursday posted a 5.9 per cent slide in April same-store sales but raised its profit guidance. The firm said total sales for the month fell to $1.09 billion from $1.16bn in the year-ago period, while first quarter sales fell 2.9 per cent year-on-year to $3.45bn.