May 22, 2009 |
Gap Inc. reported that its first-quarter profit fell almost 14% as the clothing chain faced sluggish consumer demand during the recession, but the results narrowly beat Wall Street estimates. The San Francisco-based retailer, which operates Banana Republic and Old Navy stores as well as the Gap, said Thursday that it earned $215 million, or 31 cents a share, for the three months that ended May 2. In the same period a year earlier it earned $249 million, or 34 cents. Revenue dropped 8% to $3.13 billion.
February 12, 2009 |
Limiting price increases hurt earnings at supermarket company Stater Bros. Holdings Inc. The San Bernardino grocery company, the largest independent supermarket chain in Southern California, said earnings fell 68% to $3.5 million in its first quarter ended Dec. 28. Sales rose 2% to $959 million compared with the same period a year earlier. Same-store sales, an important measure of a retailer's health, rose 1.4%. "Our plan is to assist our customers during these very tough economic times," said Jack Brown, chief executive of the 165-store chain, "and the plan is working."
November 21, 2008 |
Apparel chain Gap Inc. reported that its fiscal third-quarter profit rose 3.4% as cost-cutting efforts like inventory control offset a sales slump. The company also affirmed its profit guidance for the full year. The San Francisco company said after the markets closed that it earned $246 million, or 35 cents a share, in the three months ended Nov. 1. That compares with $238 million, or 30 cents, a year earlier. Sales fell 7.6% to $3.56 billion. Analysts surveyed by Thomson Reuters had expected earnings of 34 cents a share on revenue of $3.57 billion.
August 16, 2008 |
J.C. Penney Co. reported a 36% drop in second-quarter profit and issued a downbeat outlook for the current quarter as shoppers cut back on clothing spending in a tough economy. The Plano, Texas-based department store chain said it earned $117 million, or 52 cents a share, compared with $182 million, or 81 cents, a year earlier. Sales fell 2.5% to $4.28 billion. Same-store sales, or sales at stores opened at least a year, fell 4.3%. Same-store sales are considered a key indicator of a retailer's health.
August 14, 2008 |
Macy's Inc. posted lower second-quarter profit Wednesday and warned that its full-year earnings would be below expectations. Macy's earned $73 million, or 17 cents a share, in the quarter that ended Aug. 2, compared with $74 million, or 16 cents, a year earlier. Excluding two one-time items, Macy's earned 29 cents a share from continuing operations. Analysts surveyed by Thomson Reuters had expected earnings of 19 cents a share on revenue of $5.75 billion. Revenue fell 3% to $5.7 billion, while same-store sales, or sales at stores open at least a year, dropped 2.1%.