May Department Stores: The St. Louis-based retailer...
From Times Staff and Wire Reports
May Department Stores: The St. Louis-based retailer said its 1989 net slipped 6.7% from 1988 to $498 million while its revenue rose 8% to $9.6 billion. Included in the figures is a net loss of $17 million from discontinued operations. Earnings from continuing operations, however, rose 15% to a record $515 million. Net retail sales for the 53 weeks of fiscal 1989 were $9.53 billion. The company cited strong performances by each of its store companies. Fourth-quarter earnings from continuing operations totaled $283 million, up 14%. Net retail sales for the 13 weeks ended Jan. 27, were $3.14 billion, up 7.6%.
