(Reuters) - Analysts on average were expecting a rise of 0.8 percent, according to a Reuters poll, and Federated itself had forecast April same-store sales would increase 2.5 percent to 4 percent. April marked the third straight month that Federated posted weaker-than-expected same-store sales.
Cincinnati, Ohio-based Federated, which plans to change its name to Macy's Inc., said total sales were $1.84 billion for the four weeks that ended May 5, down 2.1 percent from the year-ago period.
Read more at Reuters.com Market News
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