Coles Myer Full-Year Profit Rises 44% on Sales Growth
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Coles Myer Ltd., Australia&#39;s biggest retailer, said full-year profit rose 44 percent after boosting sales, cutting costs and increasing earnings at its department stores.
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Australian retailer Coles Group Ltd.  put itself up for sale on Friday after receiving a number of  takeover approaches, saying it believed it was worth more than  A$18.2 billion ($14.3 billion).
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The retailer said net income in the fourth quarter rose to $4.1 billion as its focus on low prices paid off. International growth also helped lift profit and sales.
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British supermarket Tesco, the country's biggest retailer, said that its net profit rose by almost a quarter during the first half of its financial year as it attracted more customers.
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Third-quarter profit rose 5 percent, helped by sales growth in its U.S. retail market and Canada, the company said.
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TORONTO - Grocery retailer Loblaw Companies Ltd. said Friday its third-quarter earnings grew by more than 18 per cent over the previous year.
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Citigroup Inc. , the world's largest financial services company, on Thursday said fourth-quarter profit rose, helped by growth in its consumer business.
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Campbell Soup Co.  posted higher  quarterly profit on Friday, helped by higher prices, and raised  its full-year profit forecast.
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The toymaker, which has avoided the recalls that plagued many of its competitors, said its fourth-quarter profit rose 24 percent on a 16 percent increase in sales.
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Carrefour, the world&#39;s No. 2 food retailer said Wednesday that its profit increased 5.3 per cent in the first half of the year, as robust international operations and lower finance costs helped
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CarMax Inc. , the largest U.S.  retailer of used cars, on Wednesday posted a 44 percent  increase in quarterly profit and boosted its full-year profit  outlook.
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COLES Myer Ltd said today it remains on track to reach its goal of achieving a profit of $800 million in 2005/06, after booking record earnings in 2003/04.
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The company reported net profit of $526 million on higher sales of agricultural and nutritional products in Latin America and it lifted its full-year outlook.
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French conglomerate Bouygues has said that its net profit in the third quarter of the year rose by 42 percent, driven by the strong growth of its construction and roadworks businesses.
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Supermarket giant Tesco sees first half profits jump 24.2% to Â£822m ($1.47bn) and said its sales of non-food items continues to grow.
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COLES Myer chief John Fletcher yesterday declared the company on track to reach $800 million in annual profit by 2006 after handing down the highest result in the company&#39;s history, with all key divisions firing.
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Anglo-Australian mining giant Rio Tinto has announced a 43 percent jump in in full-year net profit to a record 7.44 billion US dollars and forecast continued strong demand for commodities.