Target Corp.’s third-quarter net income dropped 47 percent, stung by costs related to its expansion into Canada. Its adjusted profit beat analysts’ estimates, but revenue fell short. The department store operator also lowered its full-year adjusted earnings forecast.
Delta Air Lines made more than a billion dollars in the third quarter as more passengers paid a little bit extra to fly. Even its new oil refinery turned a small profit. The profit of $1.37 billion worked out to $1.59 per share. Not counting gains from fuel hedges, the company would have earned $1.2 billion, or $1.41 per share.
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 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 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 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 Co. is reducing its profit expectations for this year because of what it calls “current economic realities.”
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.
General Mills Inc. is benefiting from its acquisition of Yoplait International, even as it struggles to expand its yogurt business at home.
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 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 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 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 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.
UnitedHealth Group Inc.’s first-quarter net income rose 3 percent as enrollment and revenue gains countered an increase in operating costs, and the health insurer raised its 2012 earnings forecast.