Toys ‘R’ Us 4Q earnings up 39.3%
WAYNE, N.J. Toys “R” Us reported that for the fourth quarter ended Feb. 2, the company reported a 39.3% increase in net earnings to $312 million, up from $224 million for the fourth quarter ended Feb. 3, 2007. Net sales reached $5.827 billion for the 2007 fourth quarter, up 2.6% from $5.679 billion in the fourth quarter of fiscal 2006.
For the year ended Feb. 2, the company reported a 40.4% increase in net earnings to $153 million, up from $109 million for the year ended Feb. 3, 2007. Net sales increased 5.7% to $13.794 billion from $13.05 billion in fiscal 2006.
“We are very pleased with the continued progress we made in 2007 to improve company performance across all segments of our business,” said Jerry Storch, chairman and ceo of Toys “R” Us. “Better gross margins, improved comparable store sales and the positive impact of new store openings all contributed to higher net earnings for both the fourth quarter and the year. These results are especially gratifying given the difficult economic climate and the unique challenges experienced by the toy industry during the past year.”
Cabela’s posts 1Q sales increase
SIDNEY, Neb. Cabela’s posted total revenue of $535.5 million for its first quarter ended March 29, an increase of 15.9% over last year’s $462.1 million.
Net income for the quarter increased 39.4% to $10 million, or 15 cents per diluted share, compared to $7.1 million, or 11 cents per diluted share, for the like 2007 period.
“We are very pleased with our 70% growth in consolidated operating income for the first quarter of the year, despite ongoing challenges in the consumer environment,” said president and ceo Dennis Highby. ” … We remain focused on improving retail store profitability and are already seeing positive benefits from initiatives we put in place last year. We have improved four-wall contribution and lowered inventory per square foot in our comp stores. At the same time, we remain on track with our store expansion plans and expect to open a new store in Scarborough, Maine, on May 15 and another in Rapid City, S.D., in August.
“We are committed to taking the necessary steps to improve our business across the board and are pleased with the traction we are getting with our initiatives to drive retail profit improvement,” continued Highby. “We remain confident our leadership position in the marketplace will afford us significant growth opportunities well into the future.”
Walgreens posts 7.9% April sales boost
DEERFIELD, Ill. Walgreens today announced April sales of $4.85 billion, an increase of 7.9% over last year’s $4.49 billion. Comparable-store sales rose 1.6% while comparable-store front-end sales decreased 3.1%.
April sales were affected negatively this year due to an earlier Easter that helped boost sales in March. Sales for the two months, combined, increased 9.2% over 2007. Comparable-store sales for March/April rose 3% while comparable-store front-end sales rose 4%.
Front-end sales for the drugstore chain were aided by allergy medicine Zyrtec, which recently switched from prescription only to over-the-counter.
Aril pharmacy sales rose 10.8% and comparable-pharmacy sales rose 4.2%.
Walgreens opened 38 drugstores in April—including four relocations—acquired eight and closed 3. At April 30, the company operated 6,614 locations.