• Target Corp. said that its Q4 profit was down more than 40 percent to $609 million, from $1.03 billion during the same period a year ago. Q4 sales declined 1.6 percent to $19 billion from $19.3 billion a year ago. Same-store sales dropped 5.9 percent.
The company has said that it is cutting jobs, eliminating bonuses and trimming inventories as ways to be more efficient.
• United Natural Foods reports that its Q2 profit was up 50 percent to $13.6 million, from $9.1 million during the same period a year ago. Revenue rose 2 percent to $847.6 million.
• HJ Heinz reports that its third fiscal quarter profit was up 11 percent to $242.3 million, from $218.5 million a year earlier. Q3 revenue fell 7.5 percent to $2.41 billion, from $2.61 billion a year earlier.
The company has said that it is cutting jobs, eliminating bonuses and trimming inventories as ways to be more efficient.
• United Natural Foods reports that its Q2 profit was up 50 percent to $13.6 million, from $9.1 million during the same period a year ago. Revenue rose 2 percent to $847.6 million.
• HJ Heinz reports that its third fiscal quarter profit was up 11 percent to $242.3 million, from $218.5 million a year earlier. Q3 revenue fell 7.5 percent to $2.41 billion, from $2.61 billion a year earlier.
- KC's View:
