Market News

Gap, Inc. (GPS)

Gap Inc. reported net sales of $838 million for the four-week period ended February 27, 2010, which represents a 5 percent increase compared with net sales of $795 million for the four-week period ended February 28, 2009. The company’s comparable store sales for February 2010 were up 3 percent compared with a 12 percent decrease in February 2009.
One of the themes we keep seeing is comp stores sales for retailers in February. However, the stat in this Gap press releases reminds us how bad last February was for retailers - Gap comp sales were down 12% YoY last Feb. Now they went up 3% from there - still down significantly from two years ago.

Mar 5 · 11:11:00 AM · Source: Company Press Release
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by Rich Pike

Family Dollar (FDO)

Family Dollar reported that net sales for the second quarter ended February 27, 2010, increased 4.9% to $2.09 billion from $1.99 billion in the second quarter ended February 28, 2009. Comparable store sales for the quarter increased 3.6%. The Company now expects that earnings for the second quarter will be between $0.75 and $0.80 per diluted share. The Company expects to report second quarter financial results on April 7, 2010, before the market opens.
Everyone is all giddy about retailers' announcements lately that comp store sales are up over last year. We should all keep in mind that at this time last year everyone thought the world was going to melt down. So, these are easy comps to beat.

Mar 5 · 11:04:00 AM · Source: Company Press Release
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by Rich Pike

Ford (F)

Ford announced that Fusion sales to buyers new to Ford rose to 60 percent of total Fusion sales in February, up from 54 percent in January and 49 percent in 2009; Fusion Hybrid sales to buyers new to Ford increased to 82 percent last month from 70 percent in January and 63 percent in 2009.
These look like great numbers for Ford. Fusion’s share of the midsize car segment in 2010 has increased to 12.2 percent, up 4.4 points from the 7.8 percent share in the first two months of 2009. If Ford has a brand winner here, that can propel them for years to come.

Mar 5 · 10:54:00 AM · Source: Company Press Release
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by Rich Pike

Best Buy (BBY)

NASDAQ.com is reporting that barely a week after Wal-Mart Stores Inc. (WMT) signaled its latest push to sell and rent movies over the Internet, Best Buy Co. (BBY) is preparing to roll out its own, revamped digital-download service.

In an Internet posting, Best Buy said its best customers are allowed one free movie rental download each month from Blue Sky Video by Best Buy, which the retailer said is "coming out soon."
Best Buy in November announced it would develop an on-demand movie and entertainment service as part of a multiyear partnership with streaming service Sonic Solutions' (SNIC) Roxio CinemaNow. The deal, which included Best Buy acquiring warrants to purchase shares of Sonic Solutions' stock, also allowed Best Buy to embed the service on various electronic devices.

Mar 4 · 10:53:00 AM · Source: NASDAQ.com
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by Rich Pike

The Buckle (BKE)

The Buckle announced today that comparable store net sales, for stores open at least one year, for the four-week period ended February 27, 2010 increased 5.1 percent from comparable store net sales for the four-week period ended February 28, 2009. Net sales for the fourweek fiscal month ended February 27, 2010 increased 9.7 percent to $69.4 million from net sales of $63.3 million for the prior year four-week fiscal month ended February 28, 2009.
The Buckle has grown nicely over the years in the center of the US. They are now expanding into the east and west coasts.

Mar 4 · 10:32:00 AM · Source: Company Press Release
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by Rich Pike

CBS (CBS)

CBS Corporation announced today a new employment agreement with President and Chief Executive Officer Leslie Moonves. The agreement supersedes the prior contract, which was to conclude in 2011, and extends his employment with the CBS Corporation through February 22, 2015.

Feb 25 · 2:07:00 PM
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by Larry Etter

News Corp (NWSA)

News Corporation announced today it has reached an agreement to sell bTV, its Bulgarian terrestrial TV business, to Central European Media Enterprises (CME), the leading broadcaster in Central and Eastern Europe, for $400 million in cash.
The sale completes News Corporation's program of exiting its substantial Eastern European free-to-air broadcasting businesses. The transaction is subject to regulatory approval by the Bulgarian Commission for the Protection of Competition and other customary closing conditions.

Feb 18 · 12:22:00 PM · Source: Company Press Release
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by Rich Pike

Amazon (AMZN)

Amazon.com today introduced "Kindle for BlackBerry," a new application available as a free download from Amazon.com that lets customers enjoy over 420,000 books, including 102 of 112 New York Times Bestsellers, on a range of BlackBerry devices.
"Since the launch of our popular Kindle for iPhone app last year, customers have been asking us to bring a similar experience to the BlackBerry, and we are thrilled to make it available today," said Ian Freed, Vice President, Amazon Kindle. "Kindle for BlackBerry is a great way for customers to continue reading their current book wherever they are - in between meetings, at the grocery store or waiting in the doctor's office. We think customers are going to love how easy and fun it is to read their Kindle books on their BlackBerry."

Feb 18 · 12:18:00 PM · Source: Company Press Release
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by Rich Pike

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