J.C. Penney and Dayton Hudson Report Strong Earnings: Penney said its earnings were up nearly 30% excluding a onetime gain a year ago, while Dayton Hudson reported a 31% earnings gain. Penney continued a string of successful quarters, while Dayton Hudson rebounded from disappointing earnings a year ago. Penney said it earned $223 million, or 84 cents per share, in the quarter ended April 30, on sales of $4.35 billion, compared to $206 million, or 78 cents per share, on sales of $3.96 billion a year ago. Dayton Hudson reported earnings of $39 million, or 48 cents per share, in the quarter ended April 30, up from $30 million, or 35 cents per share, in the same quarter last year. The company's Target discount stores, its strongest division, reported a 15% increase in total revenue. Its weakest division, Mervyn's, a mid-priced department store, had a 2% revenue gain.
From Times Staff and Wire Reports
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