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Subject: Companies In The Leading Industry
Date: Fri, 13 Nov 92 13:07:19 EST
Message-ID: <2.1992Nov13.130720@AmeriCast.com>

11/13/92


TITLE Companies In The Leading Industry #m#gmrama#m#J.C. Penney A
Leader In Department Stores After several years of consolida-
tions, cost-cutting and tighter inventory controls, the Retail -
Major Department Stores index has made a steady improvement this
year.  On Wednesday, the five- stock group added 2.1%, leaving it
up 29.7% for the year.  J.C. Penney Co. has been the group's most
consistent performer this year. The stock has climbed more than
50% as the company has continued to turn out same-store sales in-
creases each month. The growth is the result of J.C. Penney's
beefed up advertising highlighting its lower prices.  Last month,
the Dallas-based department store chain said it would cut $11
million in annual costs by restructuring its data processing net-
work in 1993. The company also said it planned to open five
stores in Mexico within the next four years.  May Department
Stores Co.-
 has been strong ever since the company last month announced the
closure of 12 stores in California and another in Cleveland as
part of a consolidation. The stock has climbed nearly 20% since
the beginning of October. Earnings climbed 18% in the most recent
quarter after being up 7% in the prior period. Profit is expected
to rise 9% to $4.40 a share for the year ending in January.

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