MAY <MA> REPORTS STRONG 1ST QTR START
May Department Stores Co, reporting
record results for the fourth quarter ended January 31, said it
is encouraged about the new fiscal year by a strong start in
February and March.
    The company said its merger last year with Associated Dry
Goods, which was accounted for as a pooling of interests, is
"going very well." May said "We are acting more like one
company every day. Our expansion schedule is on track."
    May said it plans to invest more than 600 mln dlrs this
year to open 11 department stores, eight discount stores and
more than 240 specialty outlets.
    The company reported fourth quarter earnings of 213 mln
dlrs, or 1.38 dlrs a share, up from 195 mln dlrs, or 1.24 dlrs
a share a year earlier. Revenues advanced to 3.37 billion dlrs
from 3.12 billion dlrs.
 Reuter
