Market News

Harley-Davidson (HOG)

Motorcycle manufacturer Harley-Davidson, Inc. Thursday said it will keep its motorcycle operations in York, Pa., and move forward with plans to restructure those operations. The announcement follows yesterday’s ratification of a new seven-year labor agreement by company employees at York, represented by International Association of Machinists and Aerospace Workers (IAM) Local Lodge 175, and today’s decision by the Harley-Davidson Board of Directors to approve the restructuring plan and related funding.

Dec 3 · 1:28:00 PM · Source: Company News
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by Larry Etter

Abercrombie & Fitch (ANF)

Abercrombie & Fitch today reported net sales of $245.7 million for the four-week period ended November 28, 2009, an 8% decrease from net sales of $267.3 million for the four-week period ended November 29, 2008. November comparable store sales decreased 17%. Total Company direct-to-consumer net merchandise sales increased 3% to $24.5 million.
Fellow teen retailer Aeropostale also reported disappointing November sales, which does not bode well for the holiday shopping season.

Dec 3 · 12:29:00 PM · Source: PR Newswire
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by Rich Pike

Toll Brothers Inc. (TOL)

Toll Brothers Inc., the largest U.S. luxury-home builder, Thursday said its fiscal fourth quarter net loss widened to $111 million for the three months ended Oct. 31, or 68 cents a share, from $79 million, or 49 cents, a year earlier. Fourth-quarter costs fell 23 percent to $592 million from a year earlier, while revenue declined 30 percent to $486.6 million. Toll wrote down the value of its property and work in progress by $85.5 million in the quarter, down from $176 million a year earlier.
The earnings were below analyst expectations.

Dec 3 · 12:11:00 PM · Source: Company News
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by Larry Etter

Comcast (CMCSA)

Comcast, the largest U.S. cable company, and General Electric Thursday said they have signed a definitive agreement to form a joint venture that will be 51 percent owned by Comcast, 49 percent owned by GE and be managed by Comcast. The joint venture will consist of the NBC Universal (NBCU) businesses and Comcast's cable networks, regional sports networks and certain digital properties and certain unconsolidated investments.,
The companies said the venture will be well positioned to compete in "an increasingly dynamic and competitive media and digital environment."

Dec 3 · 12:02:00 PM · Source: Company News
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by Larry Etter

Charming Shoppes Inc. (CHRS)

Charming Shoppes, which specialises in plus-sized women's apparel, said Wednesday it lost $48.4 million, or 42 cents a share, from continuing operations in the third quarter, compared with a loss of $59.9 million, or 52 cents a share, in the year-ago quarter. Revenue fell 17 percent to $460.2 million. Comparable store sales fell 13 percent, compared with a 14 percent fall in the second quarter.

Dec 2 · 1:57:00 PM · Source: Company News
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by Larry Etter

Staples (SPLS)

Staples, the world's largest office supply retainer, said Tuesday that its third quarter net income rose to $269.4 million, or 37 cents a share, from $156.7 million, or 22 cents, a year earlier. Sales fell 6.2 percent to $6.52 billion in the 13 weeks ended Oct. 31.
Earnings and sales both topped Street estimates.

Dec 1 · 11:41:00 AM · Source: Company News Release
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by Larry Etter

Tiffany (TIF)

Tiffany & Co. said Wednesday that third quarter profits declined 1 percent to $43.3 million, or 35 cents a share, from $43.8 million a year earlier. Earnings from continuing operations, excluding some items, totaled 33 cents a share. Total revenue dropped 2.9 percent to $598.2 million in the three months ended Oct. 31. U.S. stores open at least a year decreased 10 percent after declining 27 percent in the previous quarter.
Sales and profits topped Street estimates and the company's CEO said Tiffany was "pleased to see that the rate of sales declines in the U.S. lessened as the quarter progressed. At the same time, many countries in Asia-Pacific and Europe achieved considerably better-than-expected sales."

Nov 25 · 12:36:00 PM · Source: Company News
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by Larry Etter

Borders Group Inc. (BGP)

Bookseller Borders Group Inc said Tuesday that it had a fiscal second quarter loss from continuing operations of $39 million, or 65 cents per share, basically unchanged from $39 million, or 64 cents per share, a year earlier. Sales fell 12.7 percent to $595.5 million from $682.1 million a year earlier.
The loss was larger than expected as online book sales continue to eat into the company's business.

Nov 24 · 12:09:00 PM · Source: Company News Release
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by Larry Etter

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