FINANCE

Casey’s General Stores earnings jump in Q2

BY CSA STAFF

San Francisco Casey’s General Stores reported that its fiscal second-quarter profit rose to $33.6 million, up nearly 23% from $27.3 million in the year-ago period. Meanwhile, revenue fell to $1.15 billion from $1.39 billion last year.

The company said its goal for fiscal 2010 is to increase the total number of stores 4%. At the mid-year point, the company had acquired four stores and completed seven new-store constructions.

“We are pleased with the recent acquisition environment and have written agreements for an additional 16 locations that are scheduled to close in December,” said president and CEO Robert J. Myers. “These stores are a perfect fit with our business model and we anticipate them being accretive immediately.”

The company also replaced 12 locations through the first six months.

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Walmart honors military families with $1.1M donation

BY CSA STAFF

FORT BRAGG, N.C. Walmart announced that, through a $1.1 million donation, it is helping more than 10,000 military children and families receive free toys, books, Walmart gift cards and gift packages. In addition, the company announced that it is honoring fallen veterans by helping to place wreaths on national cemeteries and memorial sites.

Walmart joined with Operation Homefront and Wreaths Across America in Fort Bragg, N.C., on Dec. 4 to launch the program, part of “Walmart Gives Back,” a holiday giving initiative focused on hunger relief and support for military families.

 

“Walmart has a history of supporting our troops. This holiday season, we recognize the sacrifices of our deployed servicemen and women – and their families back at home,” said Margaret McKenna, president of the Walmart Foundation. “We know that many military families have a tough time during the holidays. They miss their loved ones who are away, and we hope that our efforts will make their holiday easier and better.”

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Big Lots raises outlook after strong quarter

BY CSA STAFF

COLUMBUS, Ohio Big Lots reported third-quarter fiscal 2009 income from continuing operations of $30.3 million, or 37 cents per diluted share, compared with income from continuing operations of $12.4 million, or 15 cents per diluted share, in the third quarter of fiscal 2008.

Net sales for the third quarter of fiscal 2009 increased 1.3% to $1.03 billion, compared with $1.02 billion for the same period in fiscal 2008. Comparable-store sales for stores open at least two years at the beginning of the fiscal year decreased 0.2% for the quarter.

Big Lots has increased its fourth-quarter guidance for income from continuing operations to $1.09 to $1.14 per diluted share, a 9% to 14% increase compared with income from continuing operations of $1.00 per diluted share for the same period last year. The company has also raided its fiscal 2009 annual guidance for income from continuing operations to $2.15 to $2.20 per diluted share, a 14% to 16% increase compared to income from continuing operations of $1.89 per diluted share last year.

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