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News > Companies
May Co. 1Q profit jumps
May 10, 1999: 9:25 a.m. ET

Department store's per-share earnings beat Wall Street estimates by a penny
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NEW YORK (CNNfn) - May Department Stores Co., owner of Lord & Taylor, Filene's and other retail chains, reported an 11 percent jump in fiscal first-quarter earnings, beating Wall Street estimates by a penny per share.
     May (MAY) said it earned $122 million on a net basis for the quarter ended May 1, or 34 cents per diluted share, compared with $110 million, or 29 cents per share, a year earlier. The First Call consensus estimate was 33 cents per share for the latest quarter.
     The figures are adjusted to reflect a 3-for-2 stock split paid in March.
     Sales for the quarter totaled $2.9 billion, compared with $2.72 billion a year earlier.
     Last week, the St. Louis-based retailer reported a healthy increase in April same-store sales, or sales at stores open at least a year, of 7.7 percent. Retail analysts said many stores may beat first-quarter earnings estimates on the strength of strong April sales gains industry-wide.Back to top

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