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

DATE: THURSDAY, February 24, 1994                   TAG: 9402240107
SECTION: BUSINESS                    PAGE: C-9   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

REPORTED EARNINGS

The May Department Stores Co., St. Louis-based parent of the Hecht's chain and Payless ShoeSource stores and the largest department store retailer in the country, reported record 1993 sales of $11 billion, up 7.6 percent from $10.2 billion in 1992. Earnings per share were $2.65, up 17.3 percent from $2.26 per share. Net earnings were $711 million compared with $603 million in 1992.

Fourth-quarter sales totaled $3.57 billion, up 7.6 percent from $3.32 billion in the 1992 period. Earnings per share were a record $1.37, up 14.2 percent from $1.20. Net earnings were $365 million, compared with $319 million.

Southland Corp.

Southland Corp., operator of the 7-Eleven convenience store chain with a regional headquarters in Roanoke, reported 1993 net earnings increased $67 million and fourth-quarter net earnings were up $3 million from 1992.

Net earnings for the year were $71.2 million, or 17 cents per share, compared with a loss of $131.4 million, or 32 cents, in 1992. For the quarter, the company reported a net loss of $36.4 million, or 9 cents per share, compared with a loss of $29.4 million, or 7 cents, in the 1992 quarter.

1993 revenues of $6.8 billion were down 9.1 percent from 1992. For the quarter, revenues were $1.6 billion, down 5.9 percent.

Smithfield Foods

Smithfield Foods Inc., Smithfield, Va., parent of Valleydale Foods Inc. of Salem, on Wednesday reported third-quarter net income of $11.7 million, or 69 cents per share, up sharply from $508,000, or 2 cents per share, in the 1993 quarter. Sales increased to $429 million from $339.4 million.

In the first nine months of fiscal 1994, net income was $12.3 million, or 70 cents per share, up from $3.5 million, or 20 cents, in the 1993 period. Sales were $1 billion, up from $833.3 million.

Hechinger Co.

Hechinger Co., Landover, Md.-based building-supply chain with a store in Roanoke, on Wednesday reported net earnings of $24.8 million, or 59 cents per share, for the year ended January 29, compared with a net loss of $26.3 million, or 63 cents, in fiscal 1992. Sales increased 12 percent, to $2.1 billion from $1.9 billion. Comparable-store sales were up 3 percent.

Fourth-quarter net earnings were $1.2 million, or 3 cents per share, compared with $2.8 million, or 7 cents, in the year-earlier quarter. Sales were up 16 percent, to $482.3 million from $415.8 million. Comparable-store sales were up 3 percent.

Fleetwood Enterprises

Fleetwood Enterprises Inc., Riverside, Calif. producer of recreational vehicles and manufacturered housing with operations in Rocky Mount, on Wednesday reported third-quarter net income of $12,112,000, or 26 cents per share, up from $10,811,000, or 23 cents, in the 1993 quarter. Revenues climbed to a record $548.6 million, up 23 percent from $445.0 million a year ago.

For the nine months, earnings were $42.8 million, or 93 cents per share, after a one-time charge of $1.5 million, or 3 cents per share, in the first quarter to reflect a change in accounting for income taxes. This compares with $40.9 million, or 89 cents per share, for the 1993 period. Nine-month revenues increased 19 percent to $1.65 billion, the highest in the company's history. This compares with $1.39 billion for the 1993 period.