Bon Marche Parent Posts Loss

Federated Department Stores Inc. said Tuesday it lost $37.9 million during the first quarter because of acquisition expenses.

Federated’s loss was due primarily to the costs of absorbing Broadway Stores Inc.

The $37.9 million loss translated to 18 cents per share and compared with a loss of $57 million, or 31 cents per share, in the first quarter of 1995 that was due to the costs of acquiring Macy’s and Bullock’s stores.

Without the Broadway expenses, the company would have posted earnings of $9.3 million, or 4 cents a share, in the latest quarter, which ended May 4.

Sales totaled $3.3 billion, up from $2.9 billion.

“We are very pleased with our performance,” said Allen Questrom, Federated’s chairman and chief executive officer.

Federated stores include Bloomingdale’s, The Bon Marche, Broadway, Bullock’s, Burdines, Emporium, Goldsmith’s, Lazarus, Macy’s, Rich’s, Stern’s, Weinstock’s, Aeropostale and Charter Club.

In other earnings reports Wednesday:

Multibillionaire Warren Buffett’s investment company reported a huge jump in first-quarter profits, largely due to a $1.5 billion one-time gain from Capital Cities/ABC stock.

Berkshire Hathaway Inc. exchanged its 20 million shares of Capital Cities stock in March for mostly Walt Disney Co. stock and some cash when Walt Disney bought Capital Cities.

The $1.5 billion investment gain reflects the difference between what Berkshire paid for the Capital Cities stock and its value at the time of the exchange.

With the exchange, Berkshire’s net earnings in the three months ended March 31 jumped nearly 11 times to $1.67 billion, from $139 million in the same quarter last year.

Net earnings per share jumped to $1,398 in the first quarter of this year, up from $118 in the first quarter of 1995.

Excluding one-time investment gains and losses, Berkshire’s first-quarter profits rose 11 percent to $160.2 million, from $144 million in the year-ago period.

Campbell Soup Co. said its third-quarter earnings rose 14 percent on strong sales in its soup and Pace Mexican sauce lines.

Campbell said it earned $145 million, or 58 cents per share, in the quarter ended April 28, up from $127 million, or 51 cents per share, a year earlier.

Sales rose to $1.83 billion from $1.74 billion.

David W. Johnson, chairman, president and chief executive officer, said gains in soup sales both in the U.S. and overseas were a key factor in the company’s performance.