Many Retailers Enjoy Rise In Third-Quarter Earnings --- Dayton Hudson, Limited, AnnTaylor Post Gains; Penney's Net Falls 24

Specialty retailers and discount stores continued to fare well. Boosted by strong sales at its Target stores, Dayton Hudson's net income rose 27%. Limited's net income increased 3.5% as its apparel companies reported improved performance for the third consecutive quarter. And profit jumped...

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Bibliographic Details
Published inThe Wall Street journal. Eastern edition
Main Author By Wall Street Journal staff reporters Rebecca Quick in New York, Emily Nelson in Dallas and James P. Miller in Chicago
Format Newspaper Article
LanguageEnglish
Published New York, N.Y Dow Jones & Company Inc 17.11.1999
EditionEastern edition
Subjects
Business conditions
Chain stores
Company reports
Corporate profits
Dilution
Earnings per share
Financial performance
Industrywide conditions
Net income
Net losses
Retail sales
Retail stores
Retailing industry
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Summary:Specialty retailers and discount stores continued to fare well. Boosted by strong sales at its Target stores, Dayton Hudson's net income rose 27%. Limited's net income increased 3.5% as its apparel companies reported improved performance for the third consecutive quarter. And profit jumped 52% at AnnTaylor. But Penney reported net income of $142 million, or 51 cents a diluted share, down from $186 million, or 68 cents a share, a year earlier. That slightly topped the 50cent-a-share consensus of analysts surveyed by First Call/Thomson Financial. Revenue rose 5.7% to $7.98 billion. Limited said its stronger than expected earnings were fueled by continued strength at its apparel companies, particularly its Express chain. Limited reported net income of $40.7 million, or 18 cents a diluted share, compared with $39.4 million, or 17 cents a share, a year earlier. The per-share figure outpaced analysts' expectations, which were for 15 cents a share.
ISSN:0099-9660