May 22, 2009 |
Teen retailer Pacific Sunwear of California Inc. posted a smaller first-quarter loss that topped Wall Street expectations, despite a drop in same-store sales. Pacific Sunwear reported a loss of $8.7 million, or 13 cents a share, compared with a loss of $37.1 million, or 17 cents, a year earlier. Sales declined 16% to $223.5 million as sales at stores open at least one year slid 18%. But results still beat expectations of analysts polled by Thomson Reuters, who had forecast a loss of 29 cents a share and sales of $214.
May 20, 2009 |
Home Depot Inc. posted a 44% increase in its first-quarter profit Tuesday but didn't live up to the market's high expectations a day after rival Lowe's Cos. Inc. boosted its full-year outlook. The volatile housing market continued to drag down revenue and hurt business in states with the highest foreclosure rates, Home Depot said -- taking a decidedly less optimistic view than its chief competitor, whose own results Monday helped lead a market rally. "Getting to 'less bad' is not the same as getting to recovery," Chairman and Chief Executive Frank Blake said.
May 9, 2009 |
Sales of new espresso-based coffee drinks and chicken Snack Wraps helped boost McDonald's Corp.'s global sales by 6.9% in April. Same-store sales, or sales in stores open at least 13 months at the chain, rose 6.1% in the U.S. The increase comes even as the recession keeps consumers from spending on meals out. McDonald's has benefited from consumers' desire to save cash because its meals are typically less expensive than those at sit-down chains....
April 25, 2009 |
Some Americans' answer to the recession blues: Eat more cheesecake -- or at least don't eat a lot less. Shares of Cheesecake Factory Inc. rocketed 19% on Friday after the Calabasas Hills-based restaurant chain late Thursday reported better-than-expected first-quarter sales and earnings. Same-store sales were down 3.4% compared with a year earlier, but that was far better than the 6% decline that analysts, on average, had expected.
February 21, 2009 |
J.C. Penney Co. reported a 51% drop in fiscal fourth-quarter profit as customers sharply cut spending on clothing and other items. The results beat Wall Street expectations, but the chain projected a wider first-quarter loss than analysts had predicted. The retailer earned $211 million, or 95 cents a share, for the three months ended Jan. 31. That compares with $430 million, or $1.93, a year earlier. Sales declined almost 10% to $5.76 billion. Same-store sales, or sales at stores open at least a year, fell 10.8%.
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."
February 6, 2009 |
Rising Whopper sales failed to translate into bottom-line dollars for Burger King Holdings Corp. in the fiscal second quarter, the fast-food chain said. The nation's No. 2 hamburger chain reported that profit fell and missed Wall Street analysts' expectations by 4 cents a share owing to the effect of a stronger dollar. The Miami company also cut its full-year profit guidance, saying that as long as the dollar remained strong against other currencies, that would hurt Burger King's profit and cut into the benefit that fast-food companies are seeing from consumers seeking value during the recession.