Earnings
Target Says 1Q Profit Will Be Short Of Outlook
Target says its first-quarter adjusted profit will likely come in slightly below its forecast because of weaker-than-expected sales of seasonal and weather-sensitive items.
Best Buy 4th Quarter Loss Narrows
Best Buy Co. says its fourth-quarter loss narrowed as it cut costs to offset nearly flat sales during the key holiday quarter. It also says a deadline passed without a bid from its co-founder, Richard Schulze.
Target 4Q Hurt By Canada Investment, Weak Holiday
Target is setting its bullseye on Canada in 2013. Its investment in a Canadian launch this year and weaker-than-expected holiday sales caused Target Corp.’s net income to fall 2 percent in the fourth quarter of last year.
Best Buy Shares Jump On Holiday Results
Struggling consumer electronics chain Best Buy said Friday that a key revenue metric declined during the critical holiday season. But its flat performance in the U.S. was better than the past several quarters, and online revenue showed strong growth.
Key November Sales Figure Falls At Target
Target says a key revenue figure fell 1 percent in November, hurt by weak sales in the first two weeks of the month.
Best Buy Reports 3Q Loss Of $10M
Best Buy Co. reported another dismal quarter on Tuesday, recording a loss in the third quarter, hurt by a continued sales slump and charges related to restructuring. Shares fell more than 11 percent in morning trading to its lowest level in more than a decade.
3M Cuts 2012 Guidance, Citing ‘Economic Realities’
3M Co. is reducing its profit expectations for this year because of what it calls “current economic realities.”
Insurer UnitedHealth’s 3Q Profit Jumps 23 Percent
UnitedHealth Group’s third-quarter net income jumped 23 percent to trump expectations, as preparations for retiring Baby Boomers started to pay off for the nation’s largest health insurer. UnitedHealth also raised its 2012 earnings forecast.
Target Key Revenue Figure Up In September
Target says a key revenue figure rose 2.1 percent in September as shoppers picked up back-to-school items and groceries. Analysts expected a 2.2 increase for revenue in stores open at least one year.
General Mills Profit Climbs On Yoplait Overseas
General Mills Inc. is benefiting from its acquisition of Yoplait International, even as it struggles to expand its yogurt business at home.
Target Reports Flat 2Q Profits, But Sales Up
Target is reporting that net income for the second quarter was unchanged, with results dragged down by the retailer’s upcoming move into Canada. Yet customers are again spending money and the cheap chic discounter raised its earnings outlook.
Best Buy Profit Falls, Adj. Earns Tops Street View
Best Buy Co.’s fiscal first-quarter profit dropped 26 percent on restructuring charges as the struggling electronics retailer began implementing its turnaround plan. Its adjusted earnings and revenue both topped Wall Street’s expectations.
Target’s 1Q Profits Up 1.2 Percent
Target Corp. reported a 1.2 percent increase in first-quarter profit and raised its earnings forecast for the full year due to strong sales of its food and cheap chic fashions.
Kohl’s 1Q Profit Falls As It Lowers Prices
Kohl’s Corp. said Thursday that its first-quarter profit dropped 23 percent as it cut prices and indicated it expects earnings in the second quarter will be below analysts’ current expectations.
Delta Posts 1Q Profit On Fuel Hedges
Delta Air Lines reported a first-quarter profit on Wednesday as gains from hedging its fuel costs made up for losses in its day-to-day operations. The first three months of the year are usually the weakest for airlines because fewer people fly.
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