R. H. Macy Projects Cash-Flow Drop: The...
From Times Staff and Wire Reports
R. H. Macy Projects Cash-Flow Drop: The New York-based retailing giant projected a sharp drop in cash flow for its fiscal year ending July 31, almost entirely related to its weak selling season last Christmas. For fiscal 1990, Macy projected cash flow--earnings before interest payments, taxes and depreciation--of $743.2 million, down 19.7% from a year earlier. But Macy projected a 6.7% rise in cash flow for its fiscal 1990 fourth quarter.
