May Department Stores 2Q Profit Tumbles
St. Louis, May Department Stores Co.’s second-quarter profit fell by nearly half from the year before, hurt by expenses from its planned sale to Federated Department Stores.
Quarterly income dropped to $52 million, or 16? a share, from $101 million, or 33? a share, a year ago. Merger-related costs amounted to about 13? a share, while divesting stores and a lowered tax reserve boosted earnings by about 8?.
Net sales totaled $3.45 billion for the quarter, up 17% from a year earlier. Same-store sales were down 1.6%.
May said its inventories are well-positioned going into the fall season.
Self-Checkout Transactions to Surpass $450 Billion by 2008
Franklin, Tenn., Anew study conducted by IHL Consulting Group found that self-checkout transactions for 2005 will be $161 billion. The study predicts the value of the transactions will be more than $450 billion by 2008. Analysts attribute the increase in transaction sales to the growing numbers of self-checkout systems in supermarkets, supercenters and home improvement centers.
The study found that 94% of respondents already had tried self-checkout. Men are 60% more likely than women to use self-checkout on nearly every trip to the store. According to the study, the biggest complaint from consumers about self-checkout is the need for employee assistance. Respondents said they needed help one out of every three times with self-checkout.
Read All About It: Wireless Security
New York City, Wireless security is an all-or-nothing proposition: If one part of the system is insecure, the whole system is insecure. In the article: “Is Your Data Safe?” Robert Danahy of Zebra Technologies explores some of the keys to network security. To read the article, click on the “Guest Commentaries” tab at the top of the page.