May Department Stores Reports Record Earnings
- Share via
May Department Stores Co. reported record revenue and earnings for fiscal 1984.
Net earnings for the 53 weeks ended Feb. 2 were $214.1 million, a 14% increase over the $187 million in earnings for 1983, company officials said. Revenue for 1984 rose 13.7% to $4.7 billion from $4.2 billion last year.
May directors on Wednesday approved a 16-cent increase in the yearly dividend rate for common stock to $1.88 a share.
May President David C. Farrell said each of the company’s retail segments showed substantial improvement in 1984, adding: “The fourth quarter, even though in competition with a very strong 1983, produced a record-setting result of $1.6 billion in sales and net earnings of $110 million.”
May Department Stores operates 145 department stores, 59 discount stores and 1,680 self-service shoe stores.
For detailed data and results of other companies, please see tables, Page 15.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
