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                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, February 24, 1993                   TAG: 9302240084
SECTION: BUSINESS                    PAGE: A-9   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

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REPORTED EARNINGS

Lowe's

Lowe's Cos. Inc., a North Wilkesboro, N.C., building supplies chain operating Roanoke Valley stores, on Tuesday reported earnings per share of $1.16 for fiscal 1992 and 17 cents for the fourth quarter. Sales volume, earnings and cash dividends paid for the year were all at record highs.

Lowe's said 1992 sales were $3.85 billion, up 26 percent from $3.06 billion in 1991. Net earnings were $84.7 million, up 1,206 percent from $6.5 million.

Fourth-quarter sales were $910.3 million, up 28 percent from $709.6 million in the 1991 quarter. Net earnings were $12.3 million compared with a loss of $43.3 million. Earnings per share were 17 cents against a loss of 59 cents.

May Department Stores

May Department Stores Co., St. Louis-based parent of Hecht's and Payless ShoeSource stores, on Tuesday reported record earnings per share and increased its dividend rate 11 percent.

Earnings per share for the year rose 17 percent to $4.52 from $3.87. Net earnings were $603 million compared to $515 million in 1991. Sales rose 7.9 percent to $10.5 billion from $9.7 billion.

Fourth-quarter earnings per share were $2.40, up 19 percent from $2.01 in the year-earlier quarter. Net earnings were $319 million compared to $266 million. Net retail sales were $3.39 billion, up 10.0 percent from $3.09 billion.

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