Net earnings of Federated Department Stores, Inc., were $26.3 million (55 cents a share) in the second quarter, an increase of 17.6 per cent from the $22.4 million (47 cents) reported for the same quarter of 1976.

Sales in the second quarter were 1.02 million compared with last year's $981.8 million, an increase of 10.1 per cent.

Net earnings for the first six months of 1977 were $52.2 million ($1.09) a 5.5 per cent increase from the same period of year ago. Sales were $2.1 milllion compared with last year's $1.9 million, an increase of 9.8 per cent.

Among Federated's division is the Bloomingdale's chain of stores.

SCM Corp. reported record earnings and sales for fiscal 1977, the fourth year profits hit a new high.

SCM subsidiaries include Smith Corona, Glidden, Allied Paper and Durkee Foods.

For the year ended June 30, earnings rose 23.1 per cent to $87.4 million ($4.1 a share) from $30.4 million ($3.30) the year before.

Net income for the fourth quarter was $11.4 million ($1.22), up 12.3 per cent from $10.1 million (1.09).

Sales for the year were $1.4 billion, up from $1.3 billion, while sales for the quarter rose from $355.9 million to $365 million.

Quaker Oats Co, Said its profits for the fourth quarter ended June 30 rose 4.7 per cent from a year before. But the diversified food, restaurant, toy and chemical company warned that upcoming "heavy promotional spending" well leave earnings "well below" year-ago levels for its first quarter ending Sept. 30.

Quaker said it earned $10.6 million (45 cents a share) in the fourth period against $10.2 million (43 cents) the year before. Sales rose from $336.3 million to $376.6 million.

For fiscal 1977, Quaker's profits totaled $67.6 million ($3.01) on sales of $1.6 billion. In the previous year, earnings were $53.1 million ($2.31) on sales of $1.5 billion. Fiscal 1976 results reflected a charge against earnings of 57 cents a share from the company's sale of its Marx Toys division, Quaker said.

F. W. Woolworth Co., the nation's largest variety store chain, said net earnings for the second quarter ending July 31 fell to $3.4 million (8 cents a share) from $16.1 million (52 cents) a year ago. Sales were $1.3 billion, up from $1.2 billion.

The company attributed the 78 per cent earnings drop to "unsatisfactory operating results" in domestic Woolworth, Woolco and Richman Bros. stores, and foreign currency fluctuations, particularly the decline in value of the Canadian dollar.

Meanwhile, Allied Stores Corp., a large department store organization whose operations include Jordan Marsh and Pomeroy stores, said net earnings in the second quarter ending July 31 were $4.7 million (24 cents a share) compared with $4.4 million (23 cents) a year ago. Sales were $401.8 million, up from $392 million.

The Royal Dutch-Shell Group of Companies a Holland-based firm that controls the Shell Oil Co., reported a 7.3 per cent increase in earnings for the second quarter to $528 million from $492 million for the same quarter of 1976. Revenues increased to $10.2 billion from $8.4 billion.