Frances' Wake
Hurricane Frances has taken its toll on the lives of Florida’s residents as well as the state’s retailers. Cincinnati-based Federated Department Stores Inc. is among those affected. The operator of Burdines, Bloomingdale’s and Macy’s in the Sunshine State estimated it will suffer at least a $20 million loss in business, which will reduce September same-store sales by at least 1.5 percent and by 3 to 4 cents per share for the third quarter. The hurricane at one point reached Category 4 strength, with winds up to 150 miles per hour, and knocked out power in many portions of the state as well as in Georgia.
