May 6, 2013 |
American restaurants are expected to report dismal same-store sales for the first quarter, slammed by cold weather and cost-conscious consumers, but the industry hopes that Mom will come to the rescue. A forecast from Thomson Reuters shows eatery sales in a “deep freeze,” advancing a “sluggish” 1% after surging 6.3% during the same quarter in 2012. Bitter temperatures, especially in the Northeast, kept traffic minimal, according to the report. But even when diners ventured out, “they didn't want to spend much,” according to the report.
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%.
October 23, 2008 |
Biotech drug maker Amgen Inc. said Wednesday that its profit leaped in the third quarter, thanks to a comparison with a prior-year quarter weighed down by acquisition and restructuring charges. Because of higher sales and favorable exchange rates, the company raised its full-year earnings outlook even as it reported declining U.S. sales for its bestselling medication. Amgen earned $1.16 billion, or $1.09 a share, compared with $201 million, or 18 cents, a year earlier. Excluding one-time acquisition and restructuring costs, Amgen said it would have earned $1.23 a share, up 14% from the prior year.
April 8, 2009 |
Consumer borrowing fell in February by more than analysts expected as Americans cut back their use of credit cards by a record amount. The Federal Reserve said consumer borrowing dropped at an annual rate of $7.48 billion in February, or 3.5%, from January. Wall Street economists expected borrowing to slide $1 billion, according to a survey by Thomson Reuters. The decline was led by a record drop in borrowing on credit and charge cards, which fell at an annual rate of $7.8 billion, or 9.7%.
December 11, 2008 |
Korn/Ferry International said its fiscal second-quarter profit fell 20% as the financial crisis and overall economic weakness damped demand for the Los Angeles staffing company's services. Net income declined to $13.6 million, or 30 cents a share, from $17.1 million, or 37 cents, a year earlier. Revenue slipped 3.4% to $199.7 million. Analysts polled by Thomson Reuters predicted earnings of 29 cents a share on revenue of $206 million. Korn/Ferry said the global economic and financial crisis hurt business, and the average fee billed per executive search decreased by 4.5%, compared with a year earlier.
December 3, 2008 |
Staples Inc. said its fiscal third-quarter profit sank 43% because of hefty charges from restructuring and the acquisition of European rival Corporate Express. But excluding the charges, its results still beat Wall Street estimates, despite a decline in retail sales. For the three months ended Nov. 1, the Framingham, Mass.-based retailer said it earned $156.7 million, or 22 cents a share, down from $274.5 million, or 38 cents, a year earlier. Excluding one-time items, Staples earned 42 cents a share, a penny ahead of forecasts of analysts polled by Thomson Reuters.
January 11, 2010 |
The stock market has begun the new year with a good start -- and investors are looking to corporate profit reports that will start coming out today to give the nascent rally some legs. The fourth-quarter results are expected to be solid, if not spectacular. Average earnings of blue-chip companies (excluding financial firms) are projected to rise 8% over the year-earlier period, according to researcher Thomson Reuters. The average increase for companies in the Standard & Poor's 500 would be far higher -- 184% -- with banks and other financial firms in the mix, reflecting how badly that sector was faring during the 2008 financial crisis.
May 8, 2009 |
DirecTV Group Inc., the nation's largest satellite TV provider, said first-quarter earnings fell 46% even as subscriber growth hit a four-year high. The recession was largely to blame: The company increased promotions and customers pared their spending for premium channels and pay-per-view. The El Segundo company earned $201 million, or 20 cents a share, down from $371 million, or 32 cents, a year earlier. Revenue climbed 7% to $4.9 billion. Analysts expected profit of 33 cents a share on revenue of $4.96 billion, according to a Thomson Reuters poll.
August 20, 2008 |
Luxury goods retailer Saks Inc. reported a wider-than-expected loss for the second quarter and delivered a downbeat forecast for the year as its affluent customers cut back on apparel amid a slowing economy. Shares of the operator of Saks Fifth Avenue stores tumbled 93 cents, or 8.3%, to $10.29 a share. The New York-based retailer said it lost $31.7 million, or 23 cents a share, for the three months ended Aug. 2. That compares with a net loss of $24.6 million, or 17 cents, a year earlier.