THREE KEY RETAILERS SCORE HEALTHY NET GAINS IN 4TH QUARTER
NEW YORK — Despite widespread price cutting in the fourth quarter, three of the nation’s key retail organizations checked in with solid profit increases Tuesday.
At May Co., margins were down but an inventory accounting gain helped bring about a 9.9 percent increase in profits. Page 16.
Improved inventory control and a strong performance by women’s apparel contributed to a 14.5 percent gain at Nordstrom. Page 18.
At Ann Taylor, where new product lines appear to be kicking in, profits nearly doubled before special year-ago charges. Page 15.