OTHER NEWS - Feb. 25, 1993
From Times Staff and Wire Reports
May Department Stores Shows 20% Rise in Quarterly Profit: May Department Stores Co., the nation’s largest department store retailer, said its fiscal fourth-quarter net income rose 20%, a sign that a recent restructuring has helped strengthen the retailer. Earnings climbed to $319 million, or $2.53, from $266 million, or $2.12, a year earlier. Net retail sales for the 13 weeks ended Jan. 30 increased 10%, to $3.39 billion from $3.09 billion. May also declared a two-for-one stock split and increased its dividend by 11%. The stock split, subject to shareholder approval, would increase the number of shares outstanding to 700 million, from 350 million.
