May Department Stores’ Profit Falls 83%

May Department Stores Co., the owner of Robinsons-May, said fiscal third-quarter profit plunged 83% because of costs related to the company’s purchase of the 62-store Marshall Field’s chain.

Net income fell to $8 million, or 2 cents a share, from $47 million, or 15 cents, a year earlier. Sales in the three months ended Oct. 30 rose 17% to $3.48 billion, helped by the acquisition of Marshall Field’s in July, St. Louis-based May said.

Shares of May fell 16 cents to $26.88 on the New York Stock Exchange.