Predicted earnings reached by Federated stores

CINCINNATI - Federated Department Stores says its first-quarter earnings totaled $89 million, or 43 cents per share. <br> <br> That barely exceeded the 42-cent earnings per share projected by Wall Street analysts surveyed by Thomson Financial/First Call. <br> <br> Federated shareholders meet on Friday at its Cincinnati headquarters. The retailer&#39;s 461 stores include Macy&#39;s, Bloomingdale&#39;s, Lazarus and Rich&#39;s. <br> <br> Federated&#39;s earnings for the first quarter last year totaled $58 million, or 29 cents per share. But that included $26 million dollars in restructuring expenses for closing the retailer&#39;s former Stern&#39;s store division, based in New Jersey. <br> <br> Sales during the first quarter declined three percent to $3.453 billion.

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