O’Reilly Automotive 2Q income rises 5.2%
SPRINGFIELD, Mo. O’Reilly Automotive Inc. tuesday announced that net income for the second quarter ended June 30 totaled $51.9 million, up 5.2% from $49.3 million for the same period in 2006. Diluted earnings per common share for the second quarter of 2007 increased 4.7% to 45 cents on 116.1 million shares compared to 43 cents for the second quarter of 2006 on 115.2 million shares. Sales for the three months ended June 30 totaled $643 million, up 8.8% from $591 million for the same period a year ago.
Net income for the first six months of 2007 totaled $100.3 million, up 11.6% from $89.9 million for the same period a year ago. Diluted earnings per common share for the first six months of 2007 increased 11.5% to 87 cents on 115.9 million shares compared to 78 cents a year ago on 114.9 million shares. Sales for the first six months of 2007 totaled $1.26 billion, up 11.4% from $1.13 billion for the same period a year ago.
Comparable-store sales for stores open at least one year increased 2% and 4.3% for the second quarter and first six months of 2007, respectively.
“Considering the difficult economic conditions and unfavorable weather in several of our key markets, we’re pleased with the effort our team put into delivering another successful and profitable quarter,” stated Greg Henslee, ceo and co-president. “We continue to focus on opportunities to improve our operating efficiency while maintaining our commitment to providing the very best customer service in the industry.”
Former Xbox president jumps to EA
REDWOOD CITY, Calif. Former Xbox president Peter Moore has joined Electronic Arts as president of the EA Sports label, effective September. Moore will report to EA ceo John Riccitiello.
At Microsoft, Moore was the president of the Xbox and Games for Windows businesses as well as game development at Microsoft Game Studios. Moore joined Microsoft in January 2003, originally as the head of marketing for the Xbox and Games division, bringing with him more than 20 years of experience and leadership in consumer businesses. Prior to joining Microsoft, he was president and coo of SEGA of America, where he was responsible for overseeing SEGA’s video game business in North America. Before that, Moore was senior vp of marketing at Reebok International Ltd., and earlier in his career, he was president of Patrick USA, the U.S. subsidiary of the popular French sportswear company, managing all the company’s marketing, sales, finance and distribution.
Blue Holdings names new ceo
COMMERCE, Calif. Blue Holdings Inc., a designer, manufacturer and distributor of high-end fashion jeans and denim apparel, today announced the appointment of Glenn Palmer as ceo and president, effective immediately. Palmer brings 30 years of corporate finance, operations and apparel industry experience to Blue Holdings, having served in a broad range of senior management roles at Cerberus Capital Management, Amerex Group, Inc., Best Manufacturing Group, LLC, Liz Claiborne, Bonaventure Textiles USA and Ellen Tracy.
Current ceo and president Paul Guez will continue to serve as chairman of Blue Holdings’ board of directors. Guez will continue to be very active in the strategic direction of the company, as well as focusing on further developing the global licensing business.
Prior to joining Blue Holdings, Palmer was at Cerberus Capital Management, a leading private investment firm, where he served as ceo and president of Rafaella Apparel Group, a $250 million apparel manufacturing company. In this position, he led a $172 million debt financing and effectively managed the company through the Federated/May Company acquisition.