Earnings highlights: GE, Alcoa, Marriott, Pepsi Bottling, Wal-Mart, Boeing and others

Alcoa Inc. (NYSE: AA) Q2 earnings decline on materials costs but beat analysts estimates (see transcript).
Apollo Group Inc. (NASDAQ: APOL) solid Q3 results were accompanied by a share buyback program.
Boeing Co. (NYSE: BA) warned that Q2 results will include a delay-related charge of 22 cents per share.
Cash America International Inc. (NYSE: CSH) predicted Q2 earnings above previous guidance.
EZcorp Inc. (NASDAQ: EZPW) predicted better-than-expected Q3 results due to strong sales.
Family Dollar Stores Inc. (NYSE: FDO) beat Q3 expectations and raised its Q4 guidance.
Flow International Corp. (NASDAQ: FLOW) swung to a better-than-expected Q4 profit on strong demand.
General Electric Co. (NYSE: GE) reported mixed Q2 results and offered an uninspiring Q3 outlook (transcript).
Helen of Troy Ltd. (NASDAQ: HELE) Q1 results were colored by write-downs and other charges.
International Speedway Corp. (NASDAQ: ISCA) Q2 earnings soared while revenue slipped.
Levis Strauss Q2 profitability plunged due to declining sales and higher administrative costs.
Marriott International Inc. (NYSE: MAR) topped Q2 estimates but lowered its guidance (see transcript).

Continue reading Earnings highlights: GE, Alcoa, Marriott, Pepsi Bottling, Wal-Mart, Boeing and others

Earnings highlights: GE, Alcoa, Marriott, Pepsi Bottling, Wal-Mart, Boeing and others originally appeared on BloggingStocks on Sat, 12 Jul 2008 12:40:00 EST. Please see our terms for use of feeds.

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Levi Strauss' profitability plunges on declining sales

Zac Bissonnette — Wed, 09 Jul 2008 10:22:00 EST

Filed under: Earnings Reports, Bad News, Recession

It's a really bad time to be in low-end apparel. Levis Strauss, which is privately owned but has publicly-traded bonds and therefore reports its earnings, saw its second quarter operating income decline from $118 million to $52 million, driven by an 8% decline in revenue and increased selling, general and administrative costs.

President and CEO John Anderson commented that "The retail environment in the United States remained challenging. . . Increasingly difficult economic conditions in many markets worldwide are impacting consumer spending, but our brands remain strong."

The Wall Street Journal reports (subscription required) that the company's bonds that come due in 2015 have fallen to 95.75 cents on the dollar after 5.5 cent drop in the past week -- the debt carries junk ratings and, given the absolute garbage that's rated investment grade these days, that's saying something.

With all the awful reports coming out on fashion and apparel companies lately -- and the beatings the stocks have taken -- you have to wonder whether they're becoming a good contrarian play. People will buy new clothes eventually, won't they?

Levi Strauss' profitability plunges on declining sales originally appeared on BloggingStocks on Wed, 09 Jul 2008 10:22:00 EST. Please see our terms for use of feeds.

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