BusinessMay 15, 2000
BUSINESS MEMO: MAY EARNINGS DOWN
May Department Stores Co.'s first-quarter earnings dropped 1.7 percent from a year ago, though diluted earnings per share rose 2.9 percent and sales were up 3.5 percent. The St. Louis-based company said Monday it earned $120 million, or 35 cents a share, for the quarter ending April 29, compared with earnings of $122 million, or 34 cents a share, in the first quarter of 1999...
May Department Stores Co.'s first-quarter earnings dropped 1.7 percent from a year ago, though diluted earnings per share rose 2.9 percent and sales were up 3.5 percent.
The St. Louis-based company said Monday it earned $120 million, or 35 cents a share, for the quarter ending April 29, compared with earnings of $122 million, or 34 cents a share, in the first quarter of 1999.
Sales were $3.04 billion, up from $2.94 billion a year earlier.
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May's stock rose 38 cents to $28.75 in trading on the New York Stock Exchange.
May also announced three executive promotions last week: Thomas D. Fingleton to executive vice president for finance and operations; Kenneth L. Wilkerson to chairman of Hecht's; and Mark J. Weikel to chairman of Foley's.
May operates 422 stores in 36 states and the District of Columbia, including a Famous-Barr operation at Cape Girardeau. Its stores include Lord & Taylor, Hecht's, Strawbridge's, Foley's, Robinson-May, Filene's, Kaufmann's, Famous-Barr, L.S. Ayres, The Jones Store, Meier & Frank and ZCMI.
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