Federated Department Stores Inc. reported flat sales of $3.4 billion for its third quarter. But income from continuing operations jumped to $75 million compared with $26 million during the same period last year.
CEO James M. Zimmerman said in a statement that the company benefited from lower markdowns resulting from lower inventories. It also reduced expenses.
Federated realized an after-tax gain of $31 million from its sale of Arizona Mail Order and Figi
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