R. H. Macy Projects Cash-Flow Drop: The...
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From Times Staff and Wire Reports
R. H. Macy Projects Cash-Flow Drop: The New York-based retailing giant projected a sharp drop in cash flow for its fiscal year ending July 31, almost entirely related to its weak selling season last Christmas. For fiscal 1990, Macy projected cash flow--earnings before interest payments, taxes and depreciation--of $743.2 million, down 19.7% from a year earlier. But Macy projected a 6.7% rise in cash flow for its fiscal 1990 fourth quarter.
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