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Article: May Department Stores announces record expansion and capital program; is optimistic about 1988 results. (Acquisition of Foley's in Houston and Filene's in Boston, 1300 new department and specialty stores planned)
- Article from:
- PR Newswire
- Article date:
- June 17, 1988
CopyrightCOPYRIGHT 1988 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MAY DEPARTMENT STORES ANNOUNCES RECORD EXPANSION
AND CAPITAL PROGRAM; IS OPTIMISTIC ABOUT 1988 RESULTS
ST. LOUIS, June 17 /PRNewswire/ -- The May Department Stores Company (NYSE: MA) reported today at its 79th Annual Meeting of Shareowners that the company will open more than 1,300 new department and specialty stores by the end of 1992 as part of a record $3.8 billion five-year capital expenditure program. Shareowners were also told that the company is optimistic about achieving its 14th consecutive year of record-setting sales and earnings results.
David C. Farrell, chairman and chief executive officer, said, "While the beginning ...