National Intergroup Inc.: The Pittsburgh consumer, industrial...
From Times Staff and Wire Reports
National Intergroup Inc.: The Pittsburgh consumer, industrial and equity investment firm reported net income of $56 million, contrasted with a net loss of $16 million a year earlier. Sales totaled $2.8 billion, a gain of 22%. The firm attributed the results to significant improvement in its FoxMeyer Drug operations; the completion of Ben Franklin Stores’ restructuring and reported gains; the divestiture of its aluminum businesses at a profit, and the reduction of long-term debt by 60%, or $265 million, from a year ago.
