Federated Department Stores Inc. on Wednesday reported a jump in quarterly net income, boosted by its sale of credit card assets to Citigroup Inc.
The company, parent of Macy’s and Bloomingdale’s, posted third-quarter net income of $436 million ($1.79 per share), compared with $74 million (42 cents) for the like period a year earlier. Analysts, on average, were expecting earnings of 23 cents per share.
