Federated, Wal-Mart Say Snow Slowed Sales

Federated Department Stores Inc., J.C. Penney Co. and Wal-Mart Stores Inc. said February sales at stores open at least a year slowed after a blizzard kept many people from shopping on Presidents Day.

Federated, parent of Macy’s, said same-store sales would decline as much as 8.5%, more than its previous forecast of as much as 5%. Sales at Bentonville, Ark.-based Wal-Mart are near the low end of its estimate for a gain of 2% to 4%. Plano, Texas-based J.C. Penney, whose February period ended Saturday, said department store sales fell as much as 3%.

Shares of Cincinnati-based Federated dropped 76 cents to close at $24.82, and Wal-Mart fell $1.26 to $47.64. J.C. Penney fell 95 cents to $19.39. All three trade on the NYSE.