Federated May comp sales down 3.3%

Cincinnati — Locally based Federated Department Stores Inc. reported total sales of approximately $1.2 billion for the four weeks ended June 2, 2001. This is a decrease of 7.1% from total sales of approximately $1.3 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 May sales were down 3.3%.