Company Earnings
• Foodmakers Heinz, Smucker post higher earnings
(AP)
<p>AP - With consumers looking for comfort foods and ways to save money, foodmakers H.J. Heinz Co. and J.M. Smucker Co. posted higher earnings Friday and said they're benefiting from price increases and the trend of more people eating at home.
• A look at how Heinz, Smucker did in the quarter
(AP)
AP - Here's a look at how foodmakers H.J. Heinz Co. and J.M. Smucker Co. fared in the most recent quarter:
• Smucker posts 3 percent 2Q earnings gain
(AP)
AP - J.M. Smucker Co., the nation's top maker of jams and jellies and now into the coffee market, said Friday that its earnings rose 3 percent in its second fiscal quarter, due to price increases and families choosing to have meals at home in hard times.
• Heinz 2nd-quarter profit jumps 22 percent
(AP)
AP - Foodmaker H.J. Heinz Co. said Friday that strong sales of products such as Ore-Ida frozen potatoes and frozen meals boosted fiscal second-quarter profit by 22 percent as cash-strapped consumers cooked more meals at home.
• AnnTaylor posts loss
(Reuters)
Reuters - AnnTaylor Stores Corp reported a quarterly loss on Friday as the financial crisis exacerbated already weak sales trends, and the women's clothing retailer said it expected consumer spending to remain soft through the current fourth quarter.
• Heinz profit rises, helped by hedges
(Reuters)
Reuters - H.J. Heinz Co posted a higher quarterly profit as price increases, currency hedging and strong sales in North America and emerging markets helped offset higher commodity prices and slower growth in Europe.
• NZ dairy farmers facing big earnings cut
(AP)
AP - New Zealand's dairy farmers, a mainstay of the isolated South Pacific nation's exports, face a 24 percent fall in payments for milk this year because of slumping world prices, a new blow for an economy already in recession.
• Dell 3Q profit falls as PC spending slows
(AP)
AP - Dell Inc.'s fiscal third-quarter profit sank 5 percent as concerns about the deepening economic crisis crimped corporate spending on computers and other technology products.
• Dell profit tops Street view, shares rise
(Reuters)
Reuters - Dell Inc, the world's No. 2 PC maker, posted a better-than-expected quarterly profit on Thursday as cost cuts offset lower revenue, sending its shares up about 6 percent.
• Gap's 3Q profit edges up 3.4 percent on cost cuts
(AP)
AP - Gap Inc. reported Thursday that its third-quarter profit rose 3.4 percent as cost-cutting efforts offset a sales slump. The apparel chain also affirmed its profit guidance for the full year but said the tough times will last at least another six months.
• US thrifts swing to $4B loss in 3Q
(AP)
AP - U.S. thrifts lost $4 billion in the third quarter as they set aside $7.9 billion to cover losses from bad mortgages and other loans amid worsening conditions in the U.S housing market, their government regulator said Thursday.
• Barnes & Noble swings to 3Q loss
(AP)
AP - Barnes & Noble Inc. reported a larger than expected loss for the third quarter on Thursday and gave little indication that the holidays would be much brighter.
• Ahold 3Q earnings fall despite higher sales
(AP)
AP - Royal Ahold NV, the Dutch owner of U.S. grocery chains including Stop & Shop and Giant, on Thursday said third-quarter earnings fell 8.9 percent on higher taxes and a worse performance by a Scandinavian chain. But shares rose as the figures beat analyst expectations.
• Air France-KLM profit plunges in second quarter
(AP)
AP - Air France-KLM Group said Thursday its profit plunged in the second quarter as higher oil prices and financial charges weighed on the airlines' earnings.
• Children's Place profit up
(Reuters)
Reuters - Children's Place Retail Stores Inc's quarterly profit almost doubled, driven by higher sales and improved gross margins, but the apparel retailer said it expects a challenging holiday season.
• PepsiCo stands by 2008 earnings outlook
(Reuters)
Reuters - PepsiCo Inc reiterated its full-year 2008 earnings outlook on Thursday and said it would discuss innovation plans for 2009 for its North American beverage unit later in the day.
• Limited Brands 3Q profit falls, but beats forecast
(AP)
AP - Limited Brands Inc. said Wednesday its third-quarter profit dropped 66 percent as sales fell in the tough economy. But the results beat analyst expectations.
• Gas and food boost 3Q profit at BJ's Wholesale
(AP)
AP - Shoppers hunting for bargains on food, gasoline and other staples helped warehouse club operator BJ's Wholesale Club Inc. report a 24 percent increase in third-quarter profit Wednesday. The company also raised its outlook for the year.
• UK credit agency Experian 1H profit rises 15 pct
(AP)
AP - British credit agency Experian PLC said Wednesday its net profit rose 15 percent in the first half on strong growth in Latin America and a successful cost savings program.
• BJ's Wholesale profit jumps 24 percent
(Reuters)
Reuters - BJ's Wholesale Club Inc posted a 24 percent rise in quarterly profit on Wednesday, helped by an increase in shoppers coming to its stores and stronger-than-expected results from its gasoline stations.
