Chicago Sun-Times Latest news from the Chicago Sun-Times Online en-us (Editor) Newspapers Chicago Sun-Times 84 34 30 Copyright 2014 <![CDATA[ Supervalu loses money in 3Q, cuts outlook for year ]]>

MINNEAPOLIS (AP) — Supervalu Inc. says it lost money in its fiscal third quarter as the grocer dealt with hefty charges and promotions that were less effective than hoped. The operator of Albertsons, Jewel-Osco and other chains also cut its full-year earnings outlook. Its stock dropped 69 cents, or 8 percent, to $7.90 in premarket trading Tuesday. Supervalu lost $202 million, or 95 cents per share, for the period ended Dec. 4. A year ago it earned $109 million, or 51 cents per share. Quarterly charges totaled $252 million, or $1.19 per share. Adjusted earnings were 24 cents per share, … ]]> Tue, 11 Jan 2011 10:04:37 -0600 <![CDATA[ Sears expects 4Q, full-year earnings to top Street ]]>

HOFFMAN ESTATES, Ill. (AP) — Sears Holdings Corp. expects its fourth-quarter and full-year adjusted earnings to top Wall Street’s expectations. The Edward Lampert-led company, which runs its namesake stores as well as Kmart locations, predicted on Tuesday that earnings for the year ending Jan. 29 will be between $1.16 and $1.88 per share. Analysts anticipate earnings of 88 cents per share. For the fourth quarter, Sears expects adjusted earnings of $3.39 to $4.12 per share. That would beat analysts’ $3.12 per share estimate. The outlooks exclude items such as store closings and impairment charges. Sears of Hoffman Estates, Ill. said … ]]> Tue, 11 Jan 2011 09:36:00 -0600 <![CDATA[ Walgreen 1Q profit jumps 19 percent ]]> Lead story image

NEW YORK (AP) — Walgreen Co. said Wednesday that its net income jumped 19 percent in the fiscal first quarter as thousands of newly renovated stores and more successful promotions boosted sales at the largest drugstore operator in the U.S. Over the past few years, Walgreen has spent hundreds of millions of dollars remodeling its stores in order to improve sales and reduce inventory costs. After months of uneven results, Wednesday’s results indicated the company’s plans may be paying off. Walgreen shares soared as high as $40.20 Wednesday, the stock’s highest price since October 2009. The Deerfield, Ill., company said … ]]> Wed, 22 Dec 2010 16:13:31 -0600 <![CDATA[ McRib boosts McDonald’s November sales ]]> Lead story image

NEW YORK (AP) — McDonald’s Corp. says a key sales figure rose 4.8 percent in November, helped in the U.S. by the popularity of the limited-time McRib sandwich. The world’s largest burger chain also said Wednesday weaker foreign currencies will hurt its fourth-quarter earnings by a penny to 2 cents per share. Sales in restaurants open at least 13 months rose 4.9 percent in the U.S. and Europe and 2.4 percent elsewhere. The figure is considered a key measure of a restaurant chain’s health because it excludes stores that open and close during the period. McDonald’s McRib promotion ran nationally … ]]> Thu, 09 Dec 2010 01:20:18 -0600 <![CDATA[ Heinz 2Q net income rises on overseas growth ]]>

NEW YORK - H.J. Heinz Co.'s second-quarter net income rose 9 percent, helped by growth in overseas markets such as Latin America, more demand for its ketchup and price increases. The maker of Classico pasta sauce and Ore-Ida potatoes said Friday that net income rose to $251.4 million, or 78 cents per share. That's up from $231.4 million, or 73 cents per share, in the same period last year. That beat analyst expectations of 76 cents per share, according to a poll by Thomson Reuters. Foreign currency exchange hurt net income by 3 cents per share. Higher selling prices and … ]]> Thu, 09 Dec 2010 01:20:13 -0600 <![CDATA[ Higher prices help Tyson Foods return to 4Q profit ]]>

SPRINGDALE, Ark. - Tyson Foods Inc. has returned to a fourth-quarter profit, partly helped by higher prices and increasing sales of pork and prepared foods. The improvement is a sign that the meat producer, based in Springdale, Ark., is getting past an industrywide downturn brought on by a combination of higher production costs and slumping demand as shoppers cut spending. Tyson said Monday that it earned $213 million, or 57 cents per share, for the three months ended Oct. 2. That compares with a loss of $457 million, or $1.23 per share, a year ago. Removing an impairment charge of … ]]> Sun, 05 Dec 2010 16:08:00 -0600 <![CDATA[ Toll Brothers posts profit for 4Q on tax benefit ]]>

HORSHAM, Pa. - Toll Brothers Inc. posted a surprise fiscal fourth-quarter profit on Thursday, helped by a large tax benefit. But revenue slipped and signed contracts declined 27 percent amid a weak housing market. The nation's largest builder of luxury homes reported net income of $50.5 million, or 30 cents per share, for the three months ended Oct. 31. That compares with a loss of $111.4 million, or 68 cents a share, in the prior-year period. Analysts expected a loss of 8 cents per share. Toll Brothers had a $59.9 million tax benefit in the quarter versus a tax expense … ]]> Sun, 05 Dec 2010 16:08:00 -0600 <![CDATA[ Grocer Kroger rings up 3Q profit ]]>

CINCINNATI - Kroger Co. rang up better sales and returned to third-quarter profitability behind a focus on building customer loyalty in a rough economy, but the nation's largest traditional grocery operator says shoppers remain cautious. The Cincinnati-based grocer reported Thursday that net income was $202.2 million, or 32 cents a share. That compares with a loss of $875 million, or $1.35 a share, a year earlier. Its revenue was $18.7 billion, a 5.9 percent increase from last year's third quarter. Analysts expected earnings of 32 cents a share and revenue of $18.5 billion for the quarter that ended Nov. 6. … ]]> Sun, 05 Dec 2010 16:08:00 -0600 <![CDATA[ Sears Holdings loss widens in 3rd quarter ]]>

NEW YORK - Sears Holdings Corp.'s third-quarter loss widened more than expected, dragged down by continued weak revenue at its long-suffering Sears chain. Business at its Kmart stores held up better, but they still saw a key revenue measure edge downward. The discount chain is expected to face even more pressure in the holiday quarter amid stiffer competition from rivals like Target and Wal-Mart, both of which are sharpening their merchandising in groceries. In premarket trading, shares fell 2 percent to $64.85, down from $66.20 at Wednesday's close. Sears Holdings, led by billionaire Edward Lampert, posted a loss of $218 … ]]> Thu, 18 Nov 2010 16:40:00 -0600 <![CDATA[ MasterCard posts 2Q profit jump of 15 percent ]]>

NEW YORK - MasterCard Inc. on Tuesday said increased use of credit and debit cards overseas helped lift its third-quarter profit by 15 percent. The payments processor recorded a net income of $518 million, or $3.94 per share for the three months ended Sept. 30, compared with $452 million, or $3.45 per share, in the year-ago quarter. Revenue rose 5 percent to $1.43 billion, from $1.36 billion last year. Analysts polled by Thomson Reuters, on average, were expecting profit of $3.54 per share, on revenue of $1.41 billion. Purchases on credit and charge cards in the U.S. dipped 0.7 percent, … ]]> Sat, 06 Nov 2010 08:34:03 -0600 <![CDATA[ Weak cereal sales dampen Kellogg's 3Q results ]]>

BATTLE CREEK, Mich. - Kellogg Co.'s third-quarter net income fell 6 percent as cereal sales softened, competition intensified and the effects of a cereal recall lingered. The world's largest cereal maker had warned investors it would be a weak quarter and lowered its guidance twice in the past few months. It gave a cautious 2011 outlook on Tuesday. The news sent Kellogg's stock down 70 cents to $50.05 in premarket trading. Kellogg, whose brands include Eggo and Keebler, earned $338 million, or 90 cents per share, for the period ended Oct. 2. That's down from $361 million, or 94 cents … ]]> Sat, 06 Nov 2010 08:34:03 -0600 <![CDATA[ Comcast drives growth with pricier bundles ]]>

NEW YORK - Comcast Corp., the country's biggest cable TV company, continues to generate more money by attracting customers to pricier bundles of TV, Internet and phone service - even as a sluggish economy hampers efforts to sign up new subscribers. Comcast released third-quarter results Wednesday that showed its revenue is growing at its fastest clip since the fourth quarter of 2008. Net income dipped 8 percent, but only because of one-time costs, including legal bills and other expenses related to its pending takeover of NBC Universal. Comcast is hoping to win federal approval for its purchase of a controlling … ]]> Fri, 05 Nov 2010 12:50:00 -0600 <![CDATA[ Sprint Nextel posts first revenue gain in years ]]>

NEW YORK - Sprint Nextel Corp. on Wednesday reported its first quarterly revenue increase in three years, as improvements in Sprint-branded and prepaid service offset the continued flight of subscribers from the Nextel network. But its net loss widened compared with a year ago, when a large tax benefit boosted results. Investors also figured that the subscriber gains came at a high price, and they sent shares down. Sprint, the country's third-largest wireless carrier, gained a net 644,000 subscribers in the July-September period, compared with a loss of 545,000 in the same quarter last year. It ended September with 48.8 … ]]> Fri, 05 Nov 2010 12:48:01 -0600 <![CDATA[ Allstate's profit surges as investments improve ]]>

Property and casualty insurer Allstate Corp. said Wednesday that its net income surged 66 percent in the third quarter as investment losses eased. The performance nevertheless missed Wall Street expectations and the Northbrook-based company's stock slipped in after-hours trading. For the three months ended Sept. 30, the company earned $367 million, or 68 cents per share. That's compared with $221 million, or 41 cents per share, in the year-ago period. Not including one-time charges, the company said it earned 83 cents per share in the quarter. By that measure, analysts polled by Thomson Reuters on average expected a profit of … ]]> Fri, 05 Nov 2010 12:48:01 -0600 <![CDATA[ Motorola posts 3Q sales jump, first since 2006 ]]>

NEW YORK - Motorola Inc. on Thursday posted its first year-over-year quarterly sales rise since 2006, when its Razr phone was still cutting-edge technology. The company's phone division reported an operating profit for the first time in three years. It hadn't expected that to happen until next quarter. The division is pulling out of a deep dive by betting on smart phones like the Droid X. Revenue rose 6 percent to $5.8 billion in the July to September period. The Schaumburg, Ill., company reported net income of $109 million, or 5 cents per share. That's up from $12 million, or … ]]> Fri, 05 Nov 2010 16:14:00 -0600