P. M. BRIEFING : May Co. Sales, Earnings Increase

From Times wire services

May Department Stores Co. reported today that fourth-quarter earnings were $298 million, or $2.03 a share, contrasted with $230 million, or $1.52 a share, for the last quarter of 1987. Sales for the fourth quarter of 1988 were $3.995 billion, up from $3.165 billion in the fourth quarter of 1987.

Yearly 1988 earnings were reported as $503 million, or $3.42 a share, contrasted with $440 million, or $2.88 a share, for 1987. Sales for the year were $11.525 billion, up from $9.69 billion in 1987.

In 1988, Foley's of Texas and Filene's of Boston were added to May's group of companies. The consolidation of O'Neils into May Company of Ohio was completed, and Goldwaters was integrated into the Robinson's division.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World
67°