May Department Stores Sales, Profit Climb
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From Bloomberg News
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.
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