business news in context, analysis with attitude

...with brief, occasional, italicized and sometimes gratuitous commentary...

• yesterday reported a second quarter profit of $7 million, down from $191 million during the same period a year ago, on sales that were up 29 percent to $12.83 billion.

The Seattle Times reports that "Amazon is plowing most of its money back into things like new technology, digital content and distribution centers. It has announced plans for 18 new warehouses this year, with a third of those already completed. Amazon reported 69,100 employees worldwide at the end of June, up from 65,600 three months earlier."

World domination comes at a cost. I think more highly of a company where the money is being invested in the future than one where "cutting our way to prosperity" seems to be the rule, except of course when it comes to retention bonuses for the top execs. But that's just me.

• Whole Foods said yesterday that its third quarter profit was $116.8 million, up 32 percent from the same quarter last year. Total sales for the quarter rose 14 percent to $2.7 billion, with same-store sales up 8.2 percent.

• Starbucks yesterday said that its fiscal third quarter earnings rose 19 percent from a year ago, to $333.1 million, on revenue that was up 13 percent to $3.3 billion. Analysts, who wanted more, quite naturally were disappointed, which was reflected in the company's share price, which went down more than 10 percent.

Wasn't it just last week that Apple's quarterly profits were up 20 percent, and the stock tanked? Somebody should make these folks do what we used to do to our kids whenever they wanted something but didn't get it - sing them a chorus of "You Can't Always get What You Want." Oy.
KC's View: