Federated Dep't Stores profits jump 26% in the third period; better sales, tighter controls cited.

Daily News Record, November, 1994

CINCINNATI (FNS) -- Driven by tight cost controls and higher sales, Federated Department Stores, Inc., reported comparable earnings jumped 25.7 percent in the third quarter ended Oct. 29.

In the latest quarter, Federated earned $44.3 million, or 35 cents a share. A year ago, excluding the effect of a one-time tax change, earnings totaled $35.3 million, or 28 cents. The tax adjustment reduced net earnings to $20.3 million, or 16 cents.

Sales in the quarter rose 7.7 percent to $1.93 billion from $1.79 billion, with same-store sales up 3.4 percent. Selling, general and administrative expenses as a percentage of sales declined to 31.7 percent from 33.8 percent, due to continued expense controls, greater productivity and increased revenue from credit...

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