BusinessFebruary 16, 1998
BUSINESS MEMO: MAY CO. EARNINGS UP
ST. LOUIS -- May Department Stores Inc. has reported that fourth-quarter earnings rose more than 6 percent from a year ago, boasted by healthy sales during the holiday season. The retailer earned $445 million, or $1.79 a share, compared with $418 million, or $1.59 a share, during the same period a year ago. Sales for the quarter rose 6 percent from $4 billion to $4.2 billion...
ST. LOUIS -- May Department Stores Inc. has reported that fourth-quarter earnings rose more than 6 percent from a year ago, boasted by healthy sales during the holiday season.
The retailer earned $445 million, or $1.79 a share, compared with $418 million, or $1.59 a share, during the same period a year ago. Sales for the quarter rose 6 percent from $4 billion to $4.2 billion.
The retailer opened 11 department stores in 1997, for a total of 369, and plans to open 21 stores this year.
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The St. Louis-based retailer operates 10 department store chains: Lord & Taylor, Hecht's, Strawbridge's, Foley's, Robinsons-May, Kaufmann's, Filene's, Famous-Barr, L.S. Ayres and Meier & Frank.
For the year, May earned $755 million, or $3.10 a share, compared with the same earnings of $755 million, or $2.84 a share, for the previous year. Sales for the year rose 7 percent from $11.65 billion to $12.35 billion.
More details to come.
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