NEW YORK — The WWD weekly stock index was up 1.5 percent for the week ended July 15, keeping pace with the Dow Jones Industrial Average, which closed up 1.4 percent. Federated Department Stores stock declined 5/8 to close at 19 5/8 as the company reached an agreement to merge with Macy’s. Among Federated’s major competitors, Dillard Department Stores, was up 1/2 to 33 1/2, while May Department Stores Co. declined 1/4 to 38 5/8.
Phillips-Van Heusen Inc. fell 11 percent, or 2 3/4, to 21 7/8, after a Smith Barney Shearson analyst lowered her rating on the stock to “neutral” from “outperform.”
Wal-Mart Stores, which is back on many of Wall Street’s favorite-stock lists after a sales slowdown in 1993, closed up 1 to 25 3/8.
— Fairchild News Service

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