iPod developer to chair Palm board
SUNNYVALE, Calif. Former senior vp of hardware engineering and head of the iPod division at Apple, Jon Rubinstein, has joined Palm as executive chairman of the board.
Rubinstein joined Apple as senior vp of hardware engineering in 1997. As part of Apple’s turnaround, Rubinstein quickly overhauled the engineering teams, product roadmaps and manufacturing processes, resulting in a new, more nimble engineering department. In 2001, Rubinstein was instrumental in conceiving the iPod and became head of the business when it was spun off as a separate division in 2004. Additionally, Rubinstein led the team that built the iMac, and he incorporated into Apple products a pair of little-known technologies that became commonplace as a result – USB and Wi-Fi. Before joining Apple, Rubinstein spent two decades at a variety of other computer companies, including Hewlett-Packard and NeXT, and started his own computer company, Firepower Systems Inc.
Walgreens May sales aided by pharmacy
DEERFIELD, Ill. Walgreens today reported May sales of $4.6 billion, an increase of 10.7% from $4.1 billion for the same month in 2006. Sales in comparable-stores rose 6.4%.
Walgreens today reported May sales of $4.6 billion, an increase of 10.7% from $4.1 billion for the same month in 2006. Sales in comparable-stores rose 6.4%.
Comparable-store front-end sales increased 5% during May.
Calendar year-to-date sales were $22.5 billion, an increase of 13.3% from $20 billion in 2006.
Fiscal 2007 year-to-date sales for the nine months were $40.3 billion, up 14.5% from $35.2 billion. Comparable-store sales for the fiscal year to date increased 8.8%.
Dick’s reports strong 2Q results
PITTSBURGH For its second quarter ended Aug. 4, Dick’s Sporting Goods reported net income of $47.9 million compared to net income of $25.7 million last year. Earnings per diluted share increased 77% to 83 cents from 47 cents per diluted share last year.
Net sales for the quarter increased 38% to $1.01 billion due to a comparable-store sales increase of 7.2%.
Net income for the 26 weeks ended Aug. 4 increased 88% to $69.6 million and earnings per diluted share increased 78% to $1.21, as compared to prior year net income of $37.1 million, or 68 cents per diluted share.
Net sales increased 33% to $1.8 billion. Comparable-store sales increased 4.7%.
For the full year 2007, the company is increasing its earnings guidance from its previous estimate of $2.37 to $2.40 per diluted share to approximately $2.47 to $2.50 per diluted share. Comparable-store sales for Dick’s Sporting Goods stores are expected to increase approximately 2% compared to a 6% increase last year.
For the third quarter, the company anticipates consolidated earnings per diluted share of approximately 9 cents to 12 cents, as compared to 14 cents in 2006. Comparable-store sales for Dick’s Sporting Goods stores are expected to decrease approximately 1% to 3%, or be approximately flat to down 2%.