Federated Department Stores Inc., based in Cincinnati, reported a 26% drop in fourth-quarter net earnings, as problems at its Fingerhut catalog unit and charges from closure of its Sterns stores hurt profits, according to Reuters.
Overall net income for the quarter ended Feb. 3 fell to $332 million from $448 million a year ago.
Sales in the quarter rose to $6.12 billion from $5.97 billion a year ago.
Network
