Federated Department Stores Posts 3Q Profit
Cincinnati, Federated Department Stores, Inc. reported earnings of $74 million in the third quarter ended Oct. 30, an increase of 10.4% when compared with earnings of $67 million in the prior-year period. Same-store sales rose 0.4% during the 13-week period, while overall sales increased 0.2% to $3.49 billion.
May, Abercrombie Post 3Q Results
New Albany, Ohio, Abercrombie & Fitch Co. posted net income of $40.1 million in the third quarter, down from $50.5 million in the year-ago period. The decline came despite a 17% increase in sales to $520.7 million and same-store sales growth of 1%.
In other financial news, The May Department Stores Co. recorded net earnings of $8 million in the third quarter, down from $47 million last year. Although the retailer’s net sales were 17% higher at $3.48 billion, the merchant’s same-store sales fell 3.4%.
Ahold Plans Move to Amsterdam
Zaandam, The Netherlands, Royal Ahold will move its headquarters from Zaandam to Amsterdam, probably in the fourth quarter of 2005, the grocery giant says. The company says the move is part of an overall repositioning of Ahold’s group support office.