Woolworths Yearly Profits Up 12.3 Percent
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Australian supermarket giant Woolworths Ltd. on Monday reported a 12.3 percent increase in net profit to 730.7 million Australian dollars (US$528 million; euro 428.
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The company reports improving fundamentals and posts a 79% increase in Q3 earnings.
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WOOLWORTHS has bounced back from its 12-month sales slump, yesterday producing a better than expected lift in food and liquor sales as it appeared to win customers away from rival Coles Myer in Victoria.
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Third-quarter profit rose 11 percent to $640 million, helped by growth in fees from asset management and providing back-office services to institutional clients.
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Quarterly profit beat expectations on strong growth in its international, ground and freight segments.
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Retailer Limited Brands Inc. raised its third-quarter profit outlook on Monday after reporting last week a 14 percent increase in sales at stores open at least a year.
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INVESTORS stocked up on Woolworths shares today on renewed faith that the supermarket leader could withstand heavy competition from rival Coles Myer.
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Woolworths Ltd. won aA$1.3 billion ($997 million) takeover battle against Coles Myer Ltd. for Australian Leisure &amp; Hospitality Group, cementing its position as the nation&#39;s biggest liquor retailer.
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Wal-Mart Stores (WMT), the world&#39;s largest retailer, reported a 12.7% rise in third-quarter earnings Tuesday, meeting Wall Street expectations.
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Weyerhaeuser Co.'s third-quarter  profit rose on higher prices for lumber and a large gain from  the sale of timberlands in Georgia, the company said on Friday.
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Profits got a boost despite sluggish sales from the challenging environment.
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Woolworths Ltd. won aA$1.3 billion ($997 million) takeover battle against Coles Myer Ltd. for Australian Leisure &amp; Hospitality, cementing its position as the nation&#39;s biggest liquor retailer.
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The retailer reports strong earnings and lifts its outlook.
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Hartford Financial Services Group Inc , the fourth-largest U.S. insurer by assets, said on Thursday its third-quarter net income rose 12 percent, helped by growth in its life insurance operations.
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Wells Fargo & Co. WFC.N and U.S.  Bancorp USB.N, two of the largest U.S. banks, on Tuesday both  said third-quarter profit rose 12 percent.
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Viacom Inc., the third-largest US media company, said third-quarter profit from continuing operations rose 12 percent, boosted by advertising gains at CBS and MTV.
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STOCKHOLM : Swedish fashion retailer Hennes and Mauritz posted a rise in profits for the third quarter, saying its price-cut strategy had paid off.