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Earnings
By Times Wires
Published November 30, 2007
Sears Holdings Corp. The department store retailer, led by hedge-fund manager Chairman Eddie Lampert, said Thursday its third-quarter profit plunged due to a $223 million drop in gross margin, reflecting both lower sales and inventory-clearing markdowns. "We are very disappointed in our performance for the third quarter. We cannot blame our results entirely on the retail and macro-economic environments. We have much on which to improve and are working hard to do so," said Aylwin Lewis, Sears Holdings' chief executive and president. The operator of Sears and Kmart stores also warned it expects difficult economic conditions to persist in the near-term. 3rd Qtr Yr Ago Revenue $11.5-bil $11.9-bil Net Income $2-mil $196-mil Per Share 1 cent $1.27 Dell Inc. The electronics maker said earnings grew 27 percent in the third quarter, buoyed by growth in overseas markets like Brazil and by prices falling for memory chips and other components. 3rd Qtr Yr Ago Revenue $15.64-bil $14.42-bil Net Income $766-mil $601-mil Per Share 34 cents 27 cents H.J. Heinz Co. The maker of ketchup and sauces, one of the world's largest food companies, said Thursday its second-quarter profit climbed almost 19 percent as strong sales in Europe and emerging markets helped offset rising commodity costs. 2nd Qtr Yr Ago Revenue $2.52-bil $2.23-bil Net Income $227-mil $191.6-mil Per Share 71 cents 57 cents TiVo Inc. A narrower third-quarter loss was seen as a welcome sign of progress for the maker of digital video recorders, which has been trying to become profitable amid growing competition from cable and satellite TV operators. 3rd Qtr Yr Ago Revenue $75.5-mil $66-mil Net Income -$8.2-mil -$11.1-mil Per Share -8 cents -12 cents Warner Music Group Corp. The recording company said Thursday its fourth-quarter profit fell 58 percent because of a challenging recorded music environment. 4th Qtr Yr Ago Revenue $869-mil $854-mil Net Income $5-mil $12-mil Per Share 3 cents 8 cents FY 07 FY 06 Revenue $3.39-bil $3.52-bil Net Income -$21-mil $60-mil Per Share -14 cents 40 cents
[Last modified November 30, 2007, 01:05:13]
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by Corey
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11/30/07 06:22 PM
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I'm so glad to see Sears suffering for their pompous/righteous attitude towards customers. In the early days they would not take Visa/MC, only allowing Sears credit cards. The other day they charged me 10% to return a $500 item they misrepresnted!!
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