Sears sees quarterly profit decline; shares down
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Sears Holdings Corp.  on Tuesday forecast lower quarterly profit and admitted that it needed to become more relevant to consumers and control its costs, sending its shares down as much as 7 percent in premarket trading.
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Sears Canada Inc., the country&#39;s third-biggest department store chain, said third-quarter profit rose 4.5 percent, less than it expected, as sales of clothing were hurt by unseasonable weather.
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Stocks fell on Tuesday after disappointing earnings from Procter & Gamble and U.S. Steel and a Wall Street Journal article that cast doubt on the chances for a Federal Reserve interest rate cut on Wednesday.
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Talbots Inc.  said on Wednesday that quarterly net profit tumbled, hurt by heavy markdowns and declining sales at its flagship Talbots chain, sending its shares down nearly 15 percent in early electronic trading.
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Retailer Macy's Inc.  cut its quarterly profit outlook on Thursday as June same-store sales came in lower than expected, and its shares fell nearly 4 percent.
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Sears Holdings Corp. posted its lowest profit in nearly two years Thursday after another round of weak sales at Kmart and Sears stores sent the retailer's net income tumbling 40 percent.
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Kraft Foods Inc. KFT.N on Tuesday  posted lower quarterly profit, weighed down by restructuring  charges.
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Sears Holdings Corp.  on Tuesday forecast lower quarterly profit and admitted that it needs to become more relevant to consumers and control its costs, sending its shares down more than 7 percent in premarket trading.
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Sears Holdings said Thursday that its second-quarter profit had tumbled 40 percent because of lower overall sales and weaker operating results from Kmart and its domestic Sears operations.
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U.S. Steel Corp  posted a 35 percent decline in third-quarter profit on Tuesday, worse than Wall Street had expected, and forecast weak fourth-quarter earnings, sending the steelmaker's shares down 6 percent.
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Sears, Roebuck and Co. S.N on  Tuesday said it would restate its fourth-quarter 2004 earnings,  cutting them by 5 cents to 10 cents a share, due to an error in  accounting for construction allowances.
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Campbell Soup Co  posted lower quarterly profit on Friday, hurt by higher commodity costs and promotional spending.
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Sears, Roebuck and Co.  on Tuesday said it would restate its fourth-quarter 2004 earnings, cutting them by 5 cents to 10 cents a share, due to an error in accounting for construction allowances.
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AnnTaylor Stores Corp  posted lower quarterly profit on Friday as the women's apparel retailer suffered weak customer traffic at its Ann Taylor and LOFT chains, forcing markdowns on many items.
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Retailer Sears Holdings Corp.  posted a 20 percent rise in quarterly profit on Thursday, helped by a legal settlement and other special gains, but sales declined at both its Sears and Kmart units.
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Shares of Lowe's Cos  fell more than 5 percent on Tuesday after the home improvement retailer cut its profit forecast for this year amid the slumping U.S. housing market.
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Top U.S. consumer electronics retailer Best Buy Co. Inc.  on Tuesday posted a weaker-than-expected quarterly profit, dragged down by sales of lower margin products such as notebook computers and video game consoles.