Federated Department Stores Inc. reported net income of $96 million for the first quarter, up from $46 million last year.
The retailer and parent company of Bloomingdales-By-Mail and Macys.com reported net sales of $3.5 billion for the quarter ended May 1, up 6.9% from $3.2 billion last year.
“The economy has improved and our customers are responding to our ongoing efforts to improve the shopping experience, as well as to our merchandising, pricing and marketing strategies,” said Terry J. Lundgren, CEO of the Cincinnati-based company in a statement.
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