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Dr Pepper Snapple Group encouraged by 2013 opportunities
PLANO, Texas — Unseasonably cold and wet weather and cautious consumer spending negatively impacted business at Dr Pepper Snapple Group, which reported second quarter 2013 net sales of $1.61 billion, a 1% decrease from $1.62 for the same period last year.
Reported income from operations for the quarter was $285 million, including $7 million of unrealized commodity mark-to-market losses. Reported income from operations was $300 million in the prior year period, including $6 million of unrealized commodity mark-to-market losses.
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Holiday shifts impact Michaels Q2
IRVING, Texas — Holiday shifts adversely affected quarter-to-date performance at Michaels Stores, which reported net sales of $631 million for the nine-week period ending July 6, a decrease of 0.1% from $631.8 million for the comparable period last fiscal year.
Same-store sales for the same fiscal period declined 2.7%. The company's quarter-to-date performance was also adversely affected by the timing of media activity due to the impact of the 53rd week in fiscal 2012. However, as a result of the shifts, the company has seen improvement in July sales performance.
