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Financial/Banking

  • Cabela’s Q1 profit up on strong sales

    Sidney, Neb. -- Cabela's said Thursday that stronger revenue helped its fiscal first-quarter profit more than double from results weighed down by a hefty charge a year ago.

    The reported net income of $17.8 million in the three months ended April 2, up from $8.1 million a year earlier.

    The year-ago period included an $11.9 million charge related to a 2009 FDIC compliance examination.

    Revenue increased 5% to $586.7 million, from $559.6 million. Same-store sales rose 8.9%.

  • Safeway Q1 profit falls on tax charge

    Pleasanton, Calif. -- Taxes related to Safeway's effort to pay down debt reduced its first-quarter net income, but the company's adjusted results beat Wall Street's expectations as its revenue rose, the Associated Press reported.

    The company earned $25.1 million for the quarter, compared with $96 million a year earlier. This includes a tax charge related to a plan to pay down its U.S. debt with part of a $1.1 billion dividend in cash and debt from its Canadian operations.

  • Tractor Supply approves $600 million share buyback

    Brentwood, Texas -- Tractor Supply Co. said Thursday it approved a $600 million stock buyback program, increases its existing share buyback program to $1 billion. The program was established in February 2007, and is extended through April 30, 2015.

    The chain said it will also increase its quarterly cash dividend to 12 cents per share.

  • Costco plans buyback, raises dividend

    Issaquah, Wash. -- Costco Wholesale Corp. said Tuesday that its board of directors has approved a $4 billion share buyback program. The company also raised its quarterly dividend by 17% to 24 cents, up from 20.5 cents.

    The share buyback program expires in April 2015 and replaces a previous plan set to expire in July which had $800 million remaining.

  • Jones Q1 profit down 34% on charges, costs

    New York City -- Jones Group's net income fell 34% in the first quarter, weighed down by higher costs and charges tied to an acquisition.

    Jones Group earned $25.9 million, compared with $39.4 million a year ago.

    Jones Group said its quarterly results included about $11 million in costs and charges tied to its Stuart Weitzman acquisition and other restructuring and strategic review costs. Last year's quarter included costs and charges totaling approximately $3 million.

  • Consumer confidence up

    New York City -- Consumer confidence recovered somewhat in April, though the impact of rising gasoline prices is still evident, according to data released Tuesday by the Conference Board.

    The confidence index hit 65.4 in April, from an upwardly revised 63.8 in March. The reading is still below the 72.0 mark of February.

  • RadioShack to sell $300 million in debt

    Dallas -- RadioShack Corp. said Monday that it plans to sell $300 million in debt that will come due in 2019.

    The retailer said it plans to use the proceeds from the sale of the senior notes for general corporate purposes, which may include stock buybacks.

  • Westwood Town Center sold

    New York City -- Westwood Town Center, a shopping center located in West Seattle, has sold for $78.1 million.

    The buyer was MEPT Westwood Village LLC. The seller was Wesbild Holdings of Vancouver, B.C.

    Newmark Realty Capital of Seattle arranged $39 million of the financing of the center.
     

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