Hudson&#39;s Bay Has Second-Quarter Loss as Sales Fizzle
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Hudson&#39;s Bay Co., Canada&#39;s biggest department store chain, said it had its first second-quarter net loss in seven years as unseasonably cool weather damped demand for summer clothing.
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Falling production and refinery problems dents BP's second-quarter earnings, which dipped 1% to $6.09bn.
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The company reported a $2.15 billion tax benefit but said overall revenue dipped because of a 19 percent drop in traditional wholesale services.
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The maker of digital video recorders reported a net loss of $17.7 million in the second quarter, which included an $11.2 million inventory write-off.
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Quarterly net income was $46.3 million against a year-earlier loss, but sales continued to fall at the retailer amid intense competition in the electronics sector.
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Homebuilder to report large sales declines and even larger inventory write-offs for the second quarter.
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Speculation of a possible deal between Hudson&#39;s Bay Co. and American retailer Target Corp. heated up again as the Canadian icon prepared to release its quarterly results today, but the Bay&#39;s largest shareholder downplayed the rumours.
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Circuit City Stores Inc., the No. 2 US electronics chain, said its second-quarter loss narrowed to $11.9 million as the company sold more plasma-screen televisions and benefited from the acquisition of a Canadian retailer.
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For the second time in less than two months, a prospective buyer of the prime Fan Pier land in South Boston has pulled out of a deal.
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The value of goods shipped from Canada&#39;s factories fell by 0.6 per cent in September, Statistics Canada reported Monday, a decline that came as a surprise to analysts who were expecting a slight gain.
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Shares of Bob Evans Farms Inc. fell Monday after the family restaurant chain reported Tuesday that second-quarter earnings fell 41 percent because of soft same-store sales and higher food and labor costs.
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Lennar, a leading home builder, said that it had a second-quarter loss as inventories of unsold homes rose.
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Second-quarter profit fell by two-thirds at plane and train maker Bombardier Inc. (BBDb.TO: Quote, Profile, Research) as its regional aircraft business lagged a rebound
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Dillard&#39;s Inc. reported that its loss narrowed in the second quarter to nearly half of what it was a year ago, but it was still far more than Wall Street expected as the chain was dragged down by sluggish sales.
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Losses are growing for the book retailer Borders Group Inc. as it faces a difficult sales environment and a shortage of exciting new releases.
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Lower margins and a disappointing outlook hammer Cree's stock.
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The profit decline by Sears Holdings, the combination of Sears and Kmart, will be the second consecutive quarter of steeply falling profits for the retailer.