May Acquisition Boosts Federated’s 3Q

Cincinnati, Federated Department Stores posted net income of $436 million. That’s more than quadruple the $74 million it recorded in the year-ago period, but it includes results from the recently acquired May Department Stores Co.

Federated’s net sales for the third quarter were $5.78 billion, up 64.1% from last year. Same-store sales grew 0.6%.