May Department Stores Sales, Profit Climb

May Department Stores Co., operator of Robinsons-May, said fourth-quarter profit increased 9.8% as it cut costs and customers splurged on makeup and perfume, boosting sales for the first time in seven quarters.

Net income rose to $425 million, or $1.38 a share, from $387 million, or $1.26, a year earlier, the St. Louis-based company said. Sales increased 2.8% to $4.49 billion.

Shares of May fell 15 cents to $35.06 on the NYSE.