BRIEFCASE.Byline: -- Staff and Wire Services Wal-Mart has profit increase Wal-Mart Stores Inc. reported on Tuesday a better-than-expected 9.8 percent increase in fourth-quarter profits, helped by new strategy and cost-control measures at its flagship U.S. stores division. But the world's largest retailer still faces the challenge of reinvigorating sales at its U.S. stores amid fierce competition, analysts said. While profits and total sales were up around 10 percent each, Hoff noted that sales at stores open at least one year, a key measure of retail performance, only grew 1.3 percent in the fourth quarter after annual rates well over 5 percent early this decade. Wal-Mart forecast same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. growth between 1 and 3 percent in the current quarter. Wal-Mart said profit for the period ending Jan. 31 was $3.94 billion, or 95 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , up from $3.59 billion, or 87 cents, from one year prior. Even without a $98 million tax benefit worth 2 cents per share, Wal- Mart's earnings beat the 90 cents per share forecast by analysts surveyed by Thomson Financial Thomson Financial A major provider of information, analytical tools, and consulting services to the financial community. The firm, a division of Thomson Corporation, is best known to investors for its First Call segment, which publishes consensus earnings . Home Depot CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. not giving details ATLANTA -- As The Home Depot Inc. reported a 28 percent drop in fourth-quarter profit on Tuesday, its chief executive told analysts something they've heard before: The company plans to focus more on its retail stores and improve customer service. But this time, new CEO Frank Blake was mum on how he planned to achieve those goals, and the company did not provide guidance for 2007. Blake said he was withholding answers to those questions until Home Depot's investor conference next week. He did promise that things will be different under his watch compared to that of his predecessor, Bob Nardelli, who resigned in early January amid a furor over his hefty pay and Home Depot's lagging stock price. Home Depot shares fell Tuesday, and they are up only slightly since the close of trading on the day Nardelli's departure was announced. Blake said the world's largest home improvement store chain would rededicate Verb 1. rededicate - dedicate anew; "They were asked to rededicate themselves to their country" dedicate, devote, commit, consecrate, give - give entirely to a specific person, activity, or cause; "She committed herself to the work of God"; "give one's talents to a itself to improving the helpfulness and knowledge of its employees, bettering the shopping environment at its stores, enhancing its products and catering more to professional customers. Warner could make bid for EMI (ElectroMagnetic Interference) An electrical disturbance in a system due to natural phenomena, low-frequency waves from electromechanical devices or high-frequency waves (RFI) from chips and other electronic devices. Allowable limits are governed by the FCC. LONDON -- Struggling music company EMI Group PLC, beset by profit warnings and an accounting scandal in Brazil, was thrown a potential lifeline Tuesday with a possible new takeover bid by former suitor SUITOR. One who is a party to a suit or action in court. One who is a party to an action. In its ancient sense, suitor meant one Who was bound to attend the county court, also, one who formed part of the secta. (q.v.) Warner Music Group Warner Music Group (WMG) is one of the four major record labels. Warner Music Group also has a publishing arm, Warner/Chappell Music, which dates back to 1929, when Jack Warner, president of Warner Bros. Pictures Inc. . A tie-up would bring a badly needed infusion of top U.S. artists including Madonna and the Red Hot Chili Peppers Red Hot Chili Peppers are an American alternative rock band formed in Los Angeles, California in 1983. For most of its career, the group has consisted of vocalist Anthony Kiedis, guitarist John Frusciante, bassist Michael "Flea" Balzary, and drummer Chad Smith. to London-based EMI -- whose Beatles remix album has dropped off Billboard's top 40 and whose great hope for cross-Atlantic appeal, Robbie Williams, has drawn more publicity for rehab than music. EMI confirmed Tuesday it had been approached by Warner, but that it has received no specific proposal to assess. "A deal would be a no-brainer," said Richard Hunter, an industry analyst for Hargreaves Lansdown Stockbrokers, estimating about 350 million pounds ($680 million) in initial cost savings and synergies. Shares of both companies rose amid the news. |
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