FINANCE

Carrefour Profit Up 3.1%

BY CSA STAFF

Paris Carrefour SA said Friday its profit rose 3.1% in its first half of 2008.

CEO Jose Luis Duran called it a “strong performance” in a challenging environment.

The company indicated that it plans to cut prices in its home market of France on about 300 products and reduce costs by about $150 million to keep its momentum going.

Net income rose to 751.8 million euros ($1.1 billion) in the six months through June from 729.1 million euros a year earlier. The company reported a 1.2% increase in profit from recurring operations to 750 million euros ($1.1 billion).

Sales increased 8% to 41.94 billion euros ($61.95 billion) from a year ago.

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Zale reports 2Q loss

BY CSA STAFF

DALLAS Zale Corp. reported a net loss from continuing operations for the fourth quarter of fiscal 2008 of $4.9 million, or 15 cents per share, compared to net earnings from continuing operations of $0.7 million, or 1 cent per diluted share, for the fourth quarter of fiscal 2007.

Revenues for the fourth quarter ended July 31 were $456 million compared to $430 million last year, an increase of 6.1%. Comparable store sales for the fourth quarter increased 6.1%.

For the full year ended July 31, 2009, the company expects diluted EPS in the range of $1.10 to $1.25. Comparable-store sales are expected to be in the range of negative 1% to flat.

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DSW posts 2Q sales, income growth

BY CSA STAFF

COLUMBUS, Ohio DSW announced net income of $11 million on net sales of $357.2 million for the second quarter ended Aug. 2, compared with net income of $6.5 million on net sales of $348.7 million for the second quarter ended Aug. 4, 2007. Same-store sales decreased 6.9% for the comparable period versus an increase of 5.9% last year.

Diluted earnings per share were 25 cents for the second quarter this year compared with 15 cents last year. The company said the year-over-year increase in second quarter earnings was attributed to merchandise margin rate.

For the fiscal year ending Jan. 31, 2009, the company reiterates its estimated annual same-store sales in the negative mid-single digits and annual earnings per diluted share in the range of 75 cents to 85 cents.

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