R. H. Macy & Co.: The owner...
From Times staff and Wire reports
R. H. Macy & Co.: The owner of Bullock’s and I. Magnin, along with its namesake Macy’s stores, saw its losses quadruple in the fiscal year ended July 28. The New York-based retailer posted a loss of $215.3 million for the 12 months. Sales rose 4.2% to $7.27 billion. In its fourth quarter, Macy’s lost $79.9 million on sales that climbed 2.6% to $1.63 billion. A year earlier, it lost $57.4 million. The company said its performance was hurt by the national slowdown in spending.
