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Federated May Meet May
By Nathan Slaughter
February 23, 2005

Shares of Federated (NYSE: FD) slipped lower yesterday after the company released year-end results that failed to generate much enthusiasm. The parent of upscale department store chains Bloomingdale's and Macy's posted a $20 million drop in fourth-quarter net income to $440 million on sales that edged up to $5.1 billion. With 12 million fewer shares outstanding, though, per-share earnings (excluding a one-time tax gain from last year) actually advanced 11% to $2.55...
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