EARNINGS
H.J. Heinz Co. said second-quarter earnings rose to $198.9 million on $2.2 billion in revenue, up from $191.5 million on $2.09 billion in the same period last year. The company said revenue was boosted by higher-volume potato sales. Heinz warned that it may have to write down an investment in Hain Celestial Group, which specializes in organic foods.
World Wrestling Entertainment said second-quarter profit fell 74 percent, to $4.5 million, from $17.1 million in the same period last year. Revenue fell to $83.9 million, from $94.4 million a year ago, on declines in event attendance and pay-per-view and advertising sales.
Wal-Mart Stores, which opposes trade unions for its 1.2 million U.S. workers, will allow them for its employees in China, where it plans to open as many as 15 stores next year for a total of 58. Above, a cyclist passes by a Wal-Mart Supercenter in Shenzhen, China. The Bentonville, Ark.-based retailer is competing for a foothold in China with Paris-based Carrefour and Germany's Metro Group as the Chinese government prepares to ease store ownership restrictions starting Dec. 11.
(Dennis Owen -- Bloomberg News)
|
|
Deere & Co. said fiscal fourth-quarter profit surged fivefold to $356.7 million as farmers took advantage of higher income and expiring tax breaks to replace aging tractors and combines. Revenue for the three months ended Oct. 31 rose 32 percent, to $5.2 billion.
The New York Stock Exchange lost $1.6 million in the third quarter as legal fees rose, compared with earnings of $6.9 million in the comparable 2003 period. The fees reflect litigation to recover money from former chairman Dick Grasso and a probe into alleged wrongdoing by auctioneers known as specialists, among other matters, a spokeswoman said.
H&R Block swung to a second-quarter loss of $52.2 million, from a profit of $10.4 million in the same period last year, partly because of falling income from its mortgage segment. Revenue declined to $539.3 million, from $568.9 million a year ago.
El Paso Corp., which owns the nation's largest interstate network of natural-gas pipelines, posted second-quarter profit of $16 million, compared with a loss of $1.24 billion in the same period a year ago. Last year's second-quarter results included a write-down in the value of refining and telecommunications businesses, as well as the costs from a $1.7 billion settlement with California over charges that El Paso manipulated prices during the state's 2000-01 energy crisis. Revenue declined to $1.52 billion, from $1.57 billion a year ago.
Sports Authority said its third-quarter loss narrowed to $2.2 million, from $7.7 million in the same period last year. The sporting goods retailer said it earned $700,000 excluding costs from its merger with Gart Sports. Revenue fell to $545 million, from $552.5 million a year ago. Same-store sales declined 1.9 percent for the period.
Michaels Stores said third-quarter profit rose 11 percent, to $42.5 million, from $38.2 million in the same period last year. Sales increased to $799.9 million, from $755.2 million a year ago.
Brown-Forman said second-quarter profit climbed 16 percent, bolstered by the weak dollar and sales of Jack Daniel's whiskey. The Louisville provider of spirits and consumer goods said net income for the quarter ended Oct. 31 was $102.6 million, compared with $88.2 million during the comparable period a year ago. Sales rose 8 percent, to $779.7 million from $724.5 million.
Dollar Tree Stores said third-quarter profit declined to $31.9 million, from $36.2 million in the same period last year, because stores didn't open on time and hurricanes damaged some stores and merchandise. Revenue increased to $724 million, from $665.2 million a year ago. Same-store sales rose 0.7 percent in the quarter.
Compiled from reports by the Associated Press, Bloomberg News, Dow Jones News Service and Washington Post staff writers.
