SECURITIES
From Times Staff and Wire Reports
Macy’s Junk Bonds Rise on Sales Projection: R. H. Macy & Co. Inc.’s junk bonds rose after it was reported that the retailer expects sales to rise 8.3% over the next two quarters. The company’s 14.5% junk bonds maturing in 1998 rose 50 cents to $84.50 for securities with a $100 face value. The report in the Wall Street Journal also said Macy projected its operating profits would rise 69% during the coming two quarters, which include the crucial Christmas season.
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