Federated Department Stores Inc. said Wednesday its earnings nearly doubled in its second quarter, and the company sees sales growth picking up in the second half of the year.
The owner of Bloomingdale’s and Macy’s reported net income of $148 million (84 cents per share), compared with $78 million (43 cents) in the year-ago period, when the company took a $59 million charge (20 cents a share) to buy back $274 million of long-term debt.
Sales rose 1.2 percent to $3.62 billion from $3.58 billion last year. Sales at stores open at least a year were up 1.1 percent.
