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From Times Staff and Wire Reports
Macy Reports Loss in May: R. H. Macy & Co. continued to lose money in May, reporting that it suffered a $38.9-million shortfall during the month. The department store company said it had an operating loss of $14 million during the four weeks ended May 30, plus nearly $25 million in interest expenses and costs associated with its Chapter 11 reorganization. Macy said it had sales of $474.7 million during the period.
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