SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: September 2, 1998
FEDERATED DEPARTMENT STORES, INC.
151 West 34th St., New York, New York 10001
(212) 494-1602
-and-
7 West Seventh Street, Cincinnati, Ohio 45202
(513) 579-7000
Delaware 1-13536 13-3324058
(State of Incorporation) (Commission File No.) (IRS Id. No.)
Exhibit Index on Page 4
Item 5. Other Events
This Current Report on Form 8-K is being filed
with the Securities and Exchange Commission by Federated
Department Stores, Inc. ("Federated") for the purpose of
filing, as exhibits hereto, the Unaudited Consolidated
Balance Sheets of Federated as of August 1, 1998, January
31, 1998 and August 2, 1997 and the Unaudited Consolidated
Statements of Cash Flows for the 26 weeks ended August 1,
1998 and August 2, 1997, which are concurrently being posted
on Federated's website at www.federated-fds.com. The
Unaudited Consolidated Balance Sheets and Unaudited
Consolidated Statements of Cash Flows filed herewith should
be read in conjunction with the consolidated financial
statements, the notes thereto and the other information
contained in Federated's Annual Report on Form 10-K for the
fiscal year ended January 31, 1998. Because of the seasonal
nature of the department store business, the cash flows for
the 26 weeks ended August 1, 1998 and August 2, 1997 (which
do not include the Christmas season) are not indicative of
the cash flows for the entire fiscal year.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
The following exhibits are filed herewith:
99.1 Unaudited Consolidated Balance Sheets of Federated as of
August 1, 1998, January 31, 1998 and August 2, 1997.
99.2 Unaudited Consolidated Statements of Cash Flows of Federated
for the 26 weeks ended August 1, 1998 and August 2, 1997.
FEDERATED DEPARTMENT STORES, INC.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly
authorized.
FEDERATED DEPARTMENT STORES, INC.
Date: September 2, 1998 /s/ Dennis J. Broderick
Dennis J. Broderick
Senior Vice President, General
Counsel and Secretary
EXHIBIT INDEX
Exhibit
Number
99.1 Unaudited Consolidated Balance Sheets of Federated as of
August 1, 1998, January 31, 1998 and August 2, 1997
99.2 Unaudited Consolidated Statements of Cash Flows of Federated
for the 26 weeks ended August 1, 1998 and August 2, 1997
Exhibit 99.1
FEDERATED DEPARTMENT STORES, INC.
Consolidated Balance Sheets
(Unaudited)
(millions)
August 1, January 31, August 2,
1998 1998 1997
ASSETS:
Current Assets:
Cash $ 281 $ 142 $ 317
Accounts receivable 2,111 2,640 2,498
Merchandise inventories 3,361 3,239 3,372
Supplies and prepaid expenses 118 115 129
Deferred income tax assets 105 58 106
Total Current Assets 5,976 6,194 6,422
Property and Equipment - net 6,381 6,520 6,371
Intangible Assets - net 677 690 704
Other Assets 317 334 377
Total Assets $13,351 $13,738 $13,874
LIABILITIES AND SHAREHOLDERS' EQUITY:
Current Liabilities:
Short-term debt $ 34 $ 556 $ 1,505
Accounts payable and accrued
liabilities 2,517 2,416 2,482
Income taxes 67 88 4
Total Current Liabilities 2,618 3,060 3,991
Long-Term Debt 3,890 3,919 3,732
Deferred Income Taxes 977 939 836
Other Liabilities 557 564 559
Shareholders' Equity 5,309 5,256 4,756
Total Liabilities and Shareholders'
Equity $13,351 $13,738 $13,874
Exhibit 99.2
FEDERATED DEPARTMENT STORES, INC.
Consolidated Statements of Cash Flows
(Unaudited)
(millions)
26 Weeks Ended 26 Weeks Ended
August 1, 1998 August 2, 1997
Cash flows from operating activities:
Net income $ 167 $ 52
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization of property and
equipment 298 277
Amortization of intangible assets 13 14
Amortization of financing costs 4 13
Amortization of unearned restricted stock 1 1
Loss on early extinguishment of debt - 39
Changes in assets and liabilities:
Decrease in accounts receivable 331 337
Increase in merchandise inventories (122) (126)
Increase in supplies and prepaid expenses (3) (19)
(Increase) decrease in other assets not separately
identified 4 (5)
Increase (decrease) in accounts payable and
accrued liabilities not separately identified 45 (21)
Increase (decrease) in current income taxes (21) 3
Increase (decrease) in deferred income taxes (9) 4
Decrease in other liabilities not separately
identified (8) (5)
Net cash provided by operating activities 700 564
Cash flows from investing activities:
Purchase of property and equipment (189) (219)
Disposition of property and equipment 22 89
Decrease in notes receivable 200 200
Net cash provided by investing activities 33 70
Cash flows from financing activities:
Debt issued 300 850
Financing costs (7) (5)
Debt repaid (851) (1,356)
Increase in outstanding checks 79 11
Acquisition of treasury stock (154) (2)
Issuance of common stock 39 36
Net cash used by financing activities (594) (466)
FEDERATED DEPARTMENT STORES, INC.
Consolidated Statements of Cash Flows
(Unaudited)
(millions)
26 Weeks Ended 26 Weeks Ended
August 1, 1998 August 2, 1997
Net increase in cash $ 139 $ 168
Cash at beginning of period 142 149
Cash at end of period $ 281 $ 317
Supplemental cash flow information:
Interest paid $ 147 $ 212
Interest received 11 20
Income taxes paid (net of refunds received) 150 48
