Sales into Profits

Last week Montgomery Ward & Co. reported March sales at the highest level of any month since 1930 and 62.6% above March 1933. Ward sales were not news, for almost every report of retail volume for the Easter season had revealed thumping big gains. But with accountants still footing figures for Industry's first quarter, no one knows precisely how much the swift advance has meant in profits. What was news in the Ward statement was President Sewell Lee Avery's estimated earnings of $1,000,000 for February and March. In the same two months of last year Ward lost $1,900,000. In all the months of last year it earned only $2,000,000.

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