GameStop (NYSE:GME) said first-quarter profit rose to $80.4 million, or 56 cents a share, from $75.2 million, or 48 cents a share, in the year-ago period. Revenue at the Grapevine, Texas, video game retailer increased to $2.28 billion, from $2.1 billion. Analysts expected GameStop to earn 54 cents a share on revenue of $2.2 billion. GameStop expects second-quarter earnings of 20 cents to 23 cents a share, including 4 cents a share for strategic initiatives. The retailer continues to expect 2011 earnings of $2.82 a share to $2.92 a share, and full-year comparable store sales increases of 3.5% to 5.5%. Analysts expect GameStop to earn 28 cents a share in the second quarter and $2.92 a share for the year. In other news, Williams-Sonoma (NYSE:WSM) the San Francisco home-furnishings retailer, reported fiscal first-quarter net income rose 62% on 7.4% higher revenue. For the quarter ended May 1, profit reached $31.6 million, or 29 cents a share, from $19.5 million, or 18 cents, in the year-earlier period. Adjusted earnings were 30 cents a share against 23 cents. Shares outstanding fell 2.2% to 107.2 million. Revenue rose to $770.8 million from $717.6 million. A survey of analysts by FactSet Research produced consensus estimates of 28 cents a share of profit on $765.8 million of sales. -Marketwatch
McDonald’s (NYSE:MCD) got a letter from 550 health experts Wednesday accusing the fast food giant of ignoring the impact its products — and its marketing — have on America’s children. "McDonald’s and industry front groups have refused to address the dangerous toll that fast food and predatory marketing is taking on our kids," they wrote. "In the decades to come, one in three children will develop type 2 diabetes as a result of diets high in McDonald’s-style junk food, according to the Centers for Disease Control and Prevention," the experts noted. -Daily Finance
Federal Reserve policy makers neared agreement on the sequence of tools they will use to withdraw record monetary stimulus, with little accord on when to start. The central bank should first end its policy of reinvesting proceeds from maturing securities and later raise interest rates and sell assets, majorities of policy makers said at their April 26-27 meeting, according to minutes released yesterday. The caveat: Talks about the exit strategy don’t mean that tightening “would necessarily begin soon,” the report said. -Bloomberg
Sears Holdings (NASDAQ:SHLD) the Hoffmann Estates, Ill., parent of Sears and Kmart stores, swung to a fiscal first-quarter loss from a year-earlier profit on 3.4% lower revenue and a 3.6% decline in domestic same-store sales. For the quarter ended April 30, the loss was $170 million, or $1.58 a share, compared with net income of $16 million, or 14 cents, in the year-earlier period. On an adjusted basis, Sears posted a loss of $1.39 a share versus profit of 16 cents. Shares outstanding fell 6% to 107.8 million. Revenue fell to $9.71 billion from $10.05 billion. A survey of analysts by FactSet Research produced consensus estimates of a loss of 99 cents a share on $9.73 billion of revenue. Bad weather, economic pressure on customers, and the economic- stimulus measures that benefited the year-earlier period all hurt results, President and Chief Executive Lou D’Ambrosio said in a Thursday statement. "However, we also fell short on executing with excellence."
McDonald’s (NYSE:MCD) got a letter from 550 health experts Wednesday accusing the fast food giant of ignoring the impact its products — and its marketing — have on America’s children. "McDonald’s and industry front groups have refused to address the dangerous toll that fast food and predatory marketing is taking on our kids," they wrote. "In the decades to come, one in three children will develop type 2 diabetes as a result of diets high in McDonald’s-style junk food, according to the Centers for Disease Control and Prevention," the experts noted. -Daily Finance
Sears Holdings (NASDAQ:SHLD) the Hoffmann Estates, Ill., parent of Sears and Kmart stores, swung to a fiscal first-quarter loss from a year-earlier profit on 3.4% lower revenue and a 3.6% decline in domestic same-store sales. For the quarter ended April 30, the loss was $170 million, or $1.58 a share, compared with net income of $16 million, or 14 cents, in the year-earlier period. On an adjusted basis, Sears posted a loss of $1.39 a share versus profit of 16 cents. Shares outstanding fell 6% to 107.8 million. Revenue fell to $9.71 billion from $10.05 billion. A survey of analysts by FactSet Research produced consensus estimates of a loss of 99 cents a share on $9.73 billion of revenue. Bad weather, economic pressure on customers, and the economic- stimulus measures that benefited the year-earlier period all hurt results, President and Chief Executive Lou D’Ambrosio said in a Thursday statement. "However, we also fell short on executing with excellence."
0 comments:
Post a Comment