Wednesday Afternoon Earnings Roundup
Springfield, Mo., • O’Reilly Automotive recorded a net income of $42.9 million in the second quarter, up 27.3% from the same quarter a year ago. Product sales increased 19.8% to $521.2 million, supported by same-store sales growth of 9.6%.
• Guitar Center Inc. posted a consolidated net income growth of 6.3% to $12.9 million in the second quarter. Consolidated net sales increased 18.5% to $402.3 million on comps growth of 7%.
• Cache Inc. posted a net income of $3 million for its second quarter, down nearly one-third from its year-ago net income of $4.4 million. However, net sales increased 7.9% to $67 million on same-store sales growth of 5%.
Cache also said that it plans to open 25 new stores in its 2005 fiscal year. The retailer opened four locations in the second quarter, bringing its total store openings for the year to date to nine.
Walgreen Chicago-area Pharmacists Return to Work
Deerfield, Ill., Chicago-area Walgreen Co. staff pharmacists voted last night to return to work following a work stoppage that began on July 6. Walgreen was given the news by the National Pharmacists Association, which acts as a bargaining agent for staff pharmacists at Chicago-area Walgreens locations.
The pharmacists originally walked off the job to protest what they saw as low staffing levels and increased workloads.
Borders Picks Three Board Members
Ann Arbor, Mich., Borders Group Inc. has elected three new members to its board of directors, effective Aug. 1: Donald G. Campbell, senior executive VP and chief administrative and business development officer of The TJX Cos.; Brian T. Light, executive VP of business delivery for Staples Inc.; and Michael Weiss, the retired president and CEO of Limited Brands subsidiary Express.