May Department Stores reported earnings of $81...
May Department Stores reported earnings of $81 million, or 60 cents a share, in the quarter ended May 2, up from $76 million, or 56 cents a share, in the same period a year ago, when earnings fell 5%.
The St. Louis-based department store retailer reported revenue of $2.39 billion, up from $2.31 billion.
Earnings were slightly below analysts’ expectations. May stock was up 37.5 cents at $55.875 on the NYSE.
Chairman David C. Farrell, noting that the retail environment has been difficult, said: “We are encouraged somewhat by our most recent sales results and, while having planned conservatively, we look forward to a continuing improvement in the economy.”
May now operates 319 department stores, including Lord & Taylor, Hecht’s, May Co., Filene’s and Foley’s, and 3,304 specialty shoe stores.
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