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Retailing

March 19, 1993|From Times Staff and Wire Reports

Carter Hawley Reports a Profit: Carter Hawley Hale Stores, parent of the Broadway department store chain, said it had net income of $27.8 million in its fourth quarter ended Jan. 30, 1993. The Los Angeles-based retailer said the quarterly profit was partly a result of cost-cutting restructuring programs. The company, which emerged from Chapter 11 bankruptcy protection in October, 1992, had a loss of $102.4 million during the same period a year ago. Net income for the fiscal year was $1.2 billion--reflecting reorganization-related gains--contrasted with a net loss of $216.9 million the previous fiscal year.

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