Advertisement
YOU ARE HERE: LAT HomeCollectionsMay Department Stores
IN THE NEWS

May Department Stores

BUSINESS
June 26, 2003 | From Associated Press
May Department Stores Co. said it laid off about 1,500 workers in sales management and support positions, or 1.3% of its overall workforce. The St. Louis-based company said last month that first-quarter profit rose $2 million, but sales declined 7.2% May runs 447 department stores, including Lord & Taylor and Filene's. A few positions are expected to be trimmed at many of the stores, but the cuts will not affect the number of sales associates. May shares rose 12 cents to $22.60 on the NYSE.
Advertisement
BUSINESS
February 14, 2003 | From Bloomberg News
May Department Stores Co. said fourth-quarter profit dropped 10% after the retailer reduced clothing prices to keep holiday shoppers from going to discounters. Net income declined to $387 million, or $1.26 a share, from $431 million, or $1.36. Sales fell 4.4% to $4.37 billion. Shares of St. Louis-based May rose 9 cents to $19.15 on the NYSE.
BUSINESS
November 12, 2002 | From Bloomberg News
May Department Stores Co. said profit fell 69%, the seventh straight quarterly decline, due to costs from combining divisions and a drop in sales. Third-quarter net income slumped to $16 million, or 5 cents a share, from $52 million, or 16 cents, in the year-earlier period. Sales in the three months ended Nov. 2 fell 4.1% to $3.05 billion, the St. Louis company said. Sales at stores open at least a year fell 7.3%.
BUSINESS
August 13, 2002 | RACHEL KATZ, BLOOMBERG NEWS
May Department Stores Co., the owner of Lord & Taylor and Filene's stores, said profit fell 38%, the sixth straight quarterly decline, because of costs of combing four chains into two divisions. Its fiscal second-quarter net income dropped to $69 million, or 22 cents a share, from $111 million, or 35 cents, a year earlier. Sales in the three months ended Aug. 3 declined 1.7% to $3.1 billion, the company said.
BUSINESS
May 14, 2002 | Reuters
May Department Stores Co. reported a 36% drop in quarterly earnings because of charges for combining some operations. May, which operates 436 department stores, said net income for its fiscal first quarter ended May 4 fell to $70 million, or 23 cents a diluted share, from $109million, or 34 cents, a year earlier.
BUSINESS
March 12, 2002 | ABIGAIL GOLDMAN, TIMES STAFF WRITER
The biggest department store companies, among retailing's worst performers in the last year, might be hoping to consolidate their way out of trouble. But analysts and others say a flurry of deals is unlikely. And, they add, merging alone is not the answer to more successfully competing with discount chains such as Wal-Mart Stores Inc., Kohl's Corp. and Target Corp.
BUSINESS
October 30, 2001 | Leslie Earnest
Irvine Co. said that a Robinsons-May store will open at the Irvine Spectrum Center next fall, serving as an anchor for the shopping and entertainment center's third and final phase. The store is being created specifically for "non-mall locations," said Irvine Co., which owns the Irvine center. At 140,000 square feet, the Spectrum store will be less than half the size of the Robinsons-May at South Coast Plaza in Costa Mesa. Robinsons-May could not be reached for comment.
BUSINESS
August 14, 2001 | Bloomberg News
May Department Stores Co.'s fiscal second-quarter profit fell 18% to $111 million, or 35 cents a share, because of sluggish sales and higher costs. The results matched the average estimate of analysts polled by Thomson Financial/First Call. May, the first major retailer to report results in the fiscal quarter, said revenue was up just 1.6% to $3.17 billion and sales at stores open at least a year fell 3.1%.
Los Angeles Times Articles
|