Retail Industry
Industry: Email Alert RSS FeedFederated has $46 million loss after special charges in period.(3rd qtr 1995)(Brief Article)
Daily News Record, November, 1995
NEW YORK (FNS) - While operating results of Federated Department Stores in the third quarter exceeded some analysts' expectations, special charges related to the operations of Broadway Stores and the consolidation costs of R.H. Macy & Co. and Broadway resulted in a bottom line loss of $46.4 million.
Federated stock rose 1 1/4 to 28 1/4 on the New York Stock Exchange Wednesday.
Before those items, Federated reported net profit of $45.2 million, or 25 cents a share, compared with Wall Street estimates of 17 cents a share. Special items included $39.1 million for business integration of Macy's and Broadway. About $7 million of that charge is applicable to Broadway.
Additionally, the impact of the Broadway Stores' operation on Federated's results is...
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