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Federated Promises to Build a Better Fingerhut
Federated Department Stores' (FD Quote) catalog and e-commerce businesses continue to eat away at profits.
The company Tuesday topped Wall Street estimates for fourth-quarter earnings, but the company is still plagued by credit problems at its Fingerhut catalog business. Federated did provide a sliver of hope for the ailing unit, saying delinquencies declined in the latest quarter and that Fingerhut should return to profit in 2001. The company also promised to give investors more information about its struggling non-department store businesses.
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