Retail Industry
Industry: Email Alert RSS FeedYule tidings bode well for Federated, Allied. (Federated Department Stores Inc., Allied Stores Corp.)
Footwear News, October, 1990 by Doherty, Bryan; Rutberg, Sidney
Yule tidings bode well for Federated, Allied
NEW YORK (FNS) - Federated Department Stores Inc. and Allied Stores Corp. are heading into the Christmas season with inventory in good shape and expectations for reasonably good sales.
Inventories are "more than $300 million" below year-ago levels, which represents a 10 percent reduction, said Allen Questrom, chairman and chief executive officer of parent Federated Stores Inc. (FSI), Cincinnati, after disclosing details of the company's six-year business plan.
Questrom also said 80 percent of the inventory is less than three months old. He said Christmas business "won't be ebullient, but I expect the customers to be out. It's mandatory."
Company projections, which assume there will be a...
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