May Day

May Department Stores report 29 percent earnings drop
Posted November 7, 2000

May Department Stores (St. Louis) reported its third-quarter earnings have dropped 29 percent. The operator of 428 department stores, including Lord & Taylor, Filene's and Hecht's, cited poor back-to-school sales and problems clearing out spring and summer merchandise. Net income was $85 million, compared to $138 million a year earlier.