FINANCE

O’Reilly Reports Positive Q2 Results

BY CSA STAFF

Springfield, Mo. O’Reilly Automotive reported that net income and sales increased for the second quarter ended June 30.

Net income for the quarter totaled $55.8 million, up 7.5% from $51.9 million for the same period in 2007. Sales for the three months making up the quarter were $704 million, up 9.5% from $643 million for the same period a year ago.

Gross profit also increased, reaching $317 million from $287 million for the second quarter of 2007, representing an increase of 10.4%. Same-store sales increased 3.4% for the second quarter, compared to 2.0% last year.

“We’re also excited about the potential of our acquisition of CSK Auto Corp., which closed July 11, and the opportunity to optimize our complementary business models, including the implementation of our dual-market strategy in CSK’s markets,” Greg Henslee, CEO and co-president stated.

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Zahari named president and ceo of Lalique North America

BY CSA STAFF

NEW YORK According to reports, Maz Zouhari has been named president and ceo of Lalique North America.

Zouhairi was previously serving as vp of sales and marketing. He succeeds Guillaume Gauthereau.

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Supervalu reports 9% net earnings increase

BY CSA STAFF

MINNEAPOLIS Supervalu reported sales and earnings for the first quarter of fiscal 2009. The company reported first quarter net sales of $13.3 billion compared to $13.3 billion last year, net earnings of $162 million, an increase of 9% compared to $148 million last year, and diluted earnings per share of 76 cents, an increase of 10% compared to 69 cents last year.

Jeff Noddle, Supervalu chairman and ceo said, While we are pleased with our record results and the continued progress of the Albertsons integration, the ongoing weakness in the economy combined with higher food and energy inflation has created conditions that make us take a more cautious view for the balance of the fiscal year. In light of the macroeconomic environment, we have updated our guidance and are responding with tighter expense controls and other cost-savings activities. We remain confident that we are doing the right things for the long-term health of our business and are effectively managing those factors under our control in order to create a foundation for sales momentum and future growth. 

The company said it expects earnings per diluted share for fiscal 2009 to be in the range of $3 to $3.16 per diluted share. Identical-stores sales growth, excluding fuel, is now projected to be approximately 0.5% compared to previous guidance of 1% to 2%.

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