Federated Earnings Drop

Thu., Aug. 11, 1994

From Staff

Federated Department Stores Inc. said Wednesday its second-quarter earnings fell due to the costs of absorbing Joseph Horne Co. stores.

Federated said it earned $3.8 million, or 3 cents per share, in the quarter ended July 30, compared with $8.9 million, or 7 cents per share, in the same period a year earlier.

However, without the costs of acquiring the 10 Horne stores in Pennsylvania, Federated would have earned $19.9 million, or 16 cents per share.

Sales for the second quarter totaled $1.6 billion, up 6.2 percent from $1.5 billion a year ago.

Federated, based in Cincinnati, operates 232 stores in 26 states under the names of Abraham & Straus, Bloomingdale’s, The Bon Marche, Burdines, Goldsmith’s, Jordan Marsh and Lazarus.

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Federated Earnings Drop

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