May Department Stores Co.

EARNINGS

November 10, 1992

This St. Louis-based parent of Hecht's reported a healthy 17 percent gain in third-quarter earnings from continuing operations yesterday, though a series of special charges resulted in a $190 million loss.

Before the extraordinary charges, May's earnings for the 1 weeks ended Oct. 31 came to $108 million, or 81 cents per fully diluted share, compared with $91 million, or 69 cents a share, the previous year.

Net retail sales were $2.59 billion for the quarter, a 7 percent gain from $2.42 billion last year.

The charges lowered third-quarter, after-tax earnings by $298 million, or $1.44 a share.

Three months ended 10/31

.. ... .......Revenue........... Net.................. Share

92...........2,671,000,000.... (190,000,000)...... (1.44)

91.......... 2,561,000,000...... 91,000,000......... 0.69

% change.............. +4.2............... --............ --

Nine months ended 12/31

..................Revenue. .............. Net............... Share

'92............. 7,545,000,000......... 284,000,000...... $2.12

'91............. 7,253,000,000......... 249,000,000........1.86

% change............... +4.0..... ........... +14.1.... ....+14.0

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